By Wendy Van Sickle
Columbus, Ohio, Dec. 24 – Morgan Stanley Finance LLC priced $1 million of 0% bearish equity-linked partial principal at risk securities due June 17, 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 return is negative, the payout at maturity will be par plus 1.5% for every 1% that the index declines from its initial level, capped at par plus 24%.
If the index return is flat or positive, investors will receive 90% of par.
Morgan Stanley & Co. LLC is the underwriter.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Bearish equity-linked partial principal at risk securities
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| Underlying index: | S&P 500
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| Amount: | $1 million
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| Maturity: | June 17, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the index return is negative, par plus 1.5% for every 1% that the index declines from its initial level, capped at par plus 24%; if the index return is flat or positive, investors will receive 90% of par
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| Initial level: | 3,168.8
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| Pricing date: | Dec. 16
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| Settlement date: | Dec. 18
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| Underwriter: | Morgan Stanley & Co. LLC
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| Fees: | 1%
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| Cusip: | 61769H5G6
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