By Wendy Van Sickle
Columbus, Ohio, Nov. 22 – Morgan Stanley Finance LLC priced $3.65 million of 0% buffered participation securities due Oct. 25, 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 return is positive, the payout at maturity will be par plus the index return. Investors will receive par if the index declines by 25% or less and will lose 1% for every 1% that it declines beyond 25%.
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 participation securities
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| Underlying index: | S&P 500
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| Amount: | $3.65 million
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| Maturity: | Oct. 25, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus any index gain; par for losses up to 25%; 1% loss for every 1% drop beyond 25%
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| Initial level: | 2,582.14
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| Buffer level: | 1,936.605, 75% of initial level
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| Pricing date: | Nov. 20
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| Settlement date: | Nov. 24
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3%
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| Cusip: | 61768CUW5
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