By Angela McDaniels
Tacoma, Wash., June 6 – Morgan Stanley Finance LLC priced $3.45 million of 0% dual directional buffered participation securities due June 4, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the index finishes above its initial level, the payout at maturity will be par plus the index return, subject to a maximum return of 23%.
If the final index level is less than or equal to the initial index level but greater than or equal to 85% of the initial index level, the payout will be par plus the absolute value of the index return.
If the final index level is less than 85% of the initial index level, investors will lose 1% for every 1% that the index declines beyond 15%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional buffered participation securities
|
| Underlying index: | S&P 500
|
| Amount: | $3,425,000
|
| Maturity: | June 4, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index finishes above initial level, par plus index return, subject to maximum return of 23%; if final index level is less than or equal to initial index level but greater than or equal to 85% of initial index level, par plus absolute value of index return; if final index level is less than 85% of initial index level, 1% loss for every 1% that index declines beyond 15%
|
| Initial level: | 2,752.06
|
| Pricing date: | May 31
|
| Settlement date: | June 5
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.75%
|
| Cusip: | 61768D8F5
|
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