By Sarah Lizee
Olympia, Wash., May 13 – Morgan Stanley Finance LLC priced $2.41 million of 0% dual directional buffered participation securities due July 6, 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 at or above the initial level, the payout at maturity will par plus the return of the index, capped at par plus 10%.
If the index falls but by no more than the 10% buffer, the payout will be par plus the absolute value of the return.
If the index falls by more than 10%, investors will lose 1% for every 1% decline beyond the 10% buffer.
Morgan Stanley & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional buffered participation notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $2,410,210
|
| Maturity: | July 6, 2021
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the index finishes at or above the initial level, par plus the return of the index, capped at par plus 10%; if the index falls but by no more than the 10% buffer, par plus the absolute value of the return; if the index falls by more than 10%, 1% loss for every 1% decline beyond the 10% buffer
|
| Initial level: | 2,929.80
|
| Buffer level: | 2,636.82, 90% of initial level
|
| Pricing date: | May 8
|
| Settlement date: | May 13
|
| Agent: | Morgan Stanley & Co. LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.25%
|
| Cusip: | 61769P586
|
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