By William Gullotti
Buffalo, N.Y., Jan. 17 – Morgan Stanley Finance LLC priced $2.01 million of 0% dual directional buffered jump securities due July 16, 2026 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout at maturity will be the greater of par plus the lesser-performing index return and par plus 28%.
If the lesser-performing index declines by up to 20%, the payout will be par plus the absolute value of the lesser-performing index’s return.
If the final level of either index is less than its downside threshold level, investors will lose 1% for every 1% that the lesser-performing index declines beyond 20%.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Dual directional buffered jump securities
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| Underlying indexes: | S&P 500 index, Russell 2000 index
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| Amount: | $2.01 million
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| Maturity: | July 16, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above initial level, the greater of par plus the lesser-performing index return and par plus 28%; if the lesser-performing index falls by no more than 20%, par plus absolute value of lesser-performing index’s return; if final level of either index is less than downside threshold level, 1% loss for every 1% that lesser-performing index declines beyond 20%
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| Initial levels: | 3,969.61 for S&P, 1,844.051 for Russell
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| Downside thresholds: | 3,175.688 for S&P, 1,475.241 for Russell; 80% of initial levels
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| Pricing date: | Jan. 11
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| Settlement date: | Jan. 17
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61774TNA6
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