By Sarah Lizee
Olympia, Wash., Aug. 21 – Morgan Stanley Finance LLC priced $1.1 million of 0% buffered Performance Leveraged Upside Securities due Aug. 24, 2023 linked to an equally-weighted basket of three stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the common stocks of BP plc, ConocoPhillips and Exxon Mobil Corp.
If the return of basket is greater than or equal to its initial value, the payout will be par plus 154% of the basket return, up to par plus 80%.
If the basket falls by up to 10%, the payout will be par.
If the basket falls by more than 10%, investors will lose 1% for every 1% decline of the basket beyond 10% buffer.
The notes are guaranteed by Morgan Stanley.
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 basket: | BP plc, ConocoPhillips and Exxon Mobil Corp., equally weighted
|
| Amount: | $1.1 million
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| Maturity: | Aug. 24, 2023
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| Coupon: | 0%
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| Price: | Par
|
| Payout at maturity: | If the return of basket is greater than or equal initial value, par plus 154% of basket return, up to par plus 80%; if the basket falls by up to 10%, par; if the basket falls by more than 10%, 1% loss for every 1% decline of the basket beyond 10% buffer
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| Initial levels: | $22.24 for BP, $39.65 for Conoco, $41.96 for Exxon
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| Buffer level: | 90% of initial basket level
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| Pricing date: | Aug. 19
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| Settlement date: | Aug. 24
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.85%
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| Cusip: | 61771BL77
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