By Kiku Steinfeld
Chicago, Feb. 11 – Morgan Stanley Finance LLC priced $544,000 of 0% trigger Performance Leveraged Upside Securities due Feb. 7, 2024 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the ETF finishes above its initial level, the payout at maturity will be par plus 150% of the ETF return, capped at $2,200 for each $1,000 principal amount of notes.
If the ETF finishes at or below its initial level but at or above its trigger level, the payout will be par. The trigger level is 70% of the initial ETF level.
If the ETF finishes below its trigger level, investors will be fully exposed to the ETF’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
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| Underlying ETF: | ARK Innovation ETF
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| Amount: | $544,000
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| Maturity: | Feb. 7, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If ETF finishes above initial level, par plus 150% of ETF return, capped at $2,200 for each $1,000 principal amount of notes; if ETF finishes at or below initial level but at or above trigger level, par; if ETF finishes below trigger level, full exposure to decline
|
| Initial level: | $146.89
|
| Trigger level: | $102.823, 70% of initial levels
|
| Pricing date: | Feb. 2
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| Settlement date: | Feb. 5
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.5%
|
| Cusip: | 61771ET65
|
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