By Sarah Lizee
Olympia, Wash., April 24 – Morgan Stanley Finance LLC priced $2.1 million of 0% trigger Performance Leveraged Upside Securities due April 20, 2023 tied 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 above its initial level, the payout at maturity will be par plus 300% of the index return, capped at 29.02%.
If the index finishes at or below its initial level but at or above its trigger level, the payout will be par. The trigger level is 75% of the initial index level.
If the index finishes below its trigger level, investors will be fully exposed to the index’s decline from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Trigger Performance Leveraged Upside Securities
|
| Underlying index: | S&P 500
|
| Amount: | $2,104,000
|
| Maturity: | April 20, 2023
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index finishes above initial level, par plus 300% of index return, capped at 29.02%; if index finishes at or below initial level but at or above trigger level, par; if index finishes below trigger level, full exposure to decline
|
| Initial index level: | 2,874.56
|
| Trigger level: | 2,155.92, 75% of initial level
|
| Pricing date: | April 17
|
| Settlement date: | April 22
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.75%
|
| Cusip: | 61770FP42
|
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