By Susanna Moon
Chicago, May 2 – Morgan Stanley Finance LLC priced $500,000 of 0% buffered Performance Leveraged Upside Securities due Oct. 29, 2020 linked to the Dow Jones industrial average, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the index finishes at or above its initial level, the payout at maturity will be par plus 2 times the gain up to a maximum payment of $1,230 per $1,000 principal amount.
Investors will receive par if the index falls by up to 10% and will be exposed to any losses beyond 10%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Buffered Performance Leveraged Upside Securities
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| Underlying index: | Dow Jones industrial average
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| Amount: | $500,000
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| Maturity: | Oct. 29, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 200% of any gain capped at 23%; if index falls by up to 10%, par; 1% loss per 1% decline beyond 10%
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| Initial level: | 24,083.83
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| Pricing date: | April 25
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| Settlement date: | April 30
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.75%
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| Cusip: | 61768CS40
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