Chicago, Feb. 27 – Morgan Stanley Finance LLC priced $1.81 million of 0% dual directional buffered participation securities due May 7, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus of the index return subject to a maximum return of par plus 90%.
Investors will receive par plus 100% of absolute return of the index if it declines but by no more than the 20% buffer and will be exposed to any decline in the index beyond the buffer.
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 participation securities
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Underlying index: | S&P 500 index
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Amount: | $1.81 million
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Maturity: | May 7, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If return of index is positive, par plus of index return subject to a maximum return of par plus 90%; par plus 100% of absolute return of index if it declines but by no more than 20%; exposure to loss of index beyond buffer
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Initial level: | 4,300.17
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Buffer level: | 3,440.136, 80% of initial level
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Upside leverage: | 100%
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Cap: | 90%
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Absolute return: | 100%
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Buffer: | 20%
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Pricing date: | May 4, 2022
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Settlement date: | May 9, 2022
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0%
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Cusip: | 61773Q6Z7
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