Chicago, May 1 – Morgan Stanley Finance LLC priced $1.45 million of 0% dual directional buffered PLUS due Aug. 1, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gains the payout will be par plus 120% of the index return subject to a maximum return of par plus 9.2%.
The payout will be par plus 1.2 times the absolute value of the index return if the index declines but by no more than the 15% buffer, capped at par plus 18%.
Investors will lose 1% for every 1% that the index declines beyond the buffer.
The securities are non-callable.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Dual directional buffered PLUS
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| Underlying index: | S&P 500 index
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| Amount: | $1.45 million
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| Maturity: | Aug. 1, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index gains par plus 120% of index return subject to a maximum return of par plus 9.2%; par plus 1.2 times absolute value of index return if index declines but by no more than the 15% buffer, capped at par plus 18%; 1% loss for every 1% that index declines beyond buffer
|
| Initial level: | 4,927.93
|
| Buffer level: | 4,188.741, 85% of initial level
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| Upside leverage: | 120%
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| Buffer: | 15%
|
| Call: | Non-callable
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| Pricing date: | Jan. 29
|
| Settlement date: | Jan. 31
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.35%
|
| Cusip: | 61771WTW8
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