Chicago, Sept. 30 – Morgan Stanley Finance LLC priced $1.55 million of 0% dual directional buffered participation securities due Sept. 1, 2022 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, subject to the maximum upside payment of $1,340 per $1,000 principal amount of notes.
If the index falls but by no more than the 15% buffer, the payout will be par plus the absolute value of the return.
If the index falls by more than 15%, investors will lose 1% for every 1% decline beyond the 15% buffer.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional buffered participation notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $1,550,000
|
| Maturity: | Sept. 1, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the index finishes at or above the initial level, par the return of the index, capped at 134% of principal amount; if the index falls but by no more than the 15% buffer, par plus the absolute value of the return; if the index falls by more than 15%, 1% loss for every 1% decline beyond the 15% buffer
|
| Initial level: | 2,869.16
|
| Buffer level: | 2,438.786; 85% of initial level
|
| Pricing date: | Aug. 27
|
| Settlement date: | Aug. 30
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.75%
|
| Cusip: | 61769HRN7
|
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