By Wendy Van Sickle
Columbus, Ohio, Jan. 3 – Morgan Stanley Finance LLC priced $2 million 0% buffered securities due Jan. 5, 2028 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
If the final index level is greater than the initial level, the payout at maturity will be par plus 310% of the index return, up to par plus 62%.
If the index declines by up to 12%, the payout will be par. Investors will be exposed to losses beyond 12%.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Buffered securities
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| Underlying index: | Russell 2000
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| Amount: | $2 million
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| Maturity: | Jan. 5, 2028
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If the index gains, par plus 310% of the return up to par plus 62%; par if index falls by up to 12%; exposure to losses beyond 12%
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| Initial level: | Arithmetic average of closing levels from Dec. 16, 2022 to and including March 20, 2023
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| Final index level: | Arithmetic average of closing levels from Oct. 1, 2027 to and including Dec. 31, 2027
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| Pricing date: | Dec. 20
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| Settlement date: | Dec. 23
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.5%
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| Cusip: | 61774Q595
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