New York, Nov. 17 – Morgan Stanley Finance LLC priced $1.92 million of 0% dual directional buffered participation securities due Oct. 31, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus the index return, subject to a maximum return of 150%.
Investors will receive par plus the absolute value of the index return if it declines but by no more than the 20% buffer and will be exposed to any decline in the index beyond the buffer.
The notes are guaranteed by Morgan Stanley.
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 index
|
| Amount: | $1,917, 000
|
| Maturity: | Oct. 31, 2028
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If return of index is positive, par plus index return, subject to cap of 150%; par plus absolute value of index return if it declines but by no more than 20%; exposure to loss of index beyond buffer
|
| Initial level: | 4,137.23
|
| Upside leverage: | 107%
|
| Cap: | None
|
| Buffer: | 20%
|
| Pricing date: | Oct. 26
|
| Settlement date: | Oct. 31
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 4.25%
|
| Cusip: | 61775MDB9
|
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