By Susanna Moon
Chicago, Dec. 10 – Morgan Stanley Finance LLC priced $30.18 million of 0% dual directional trigger jump securities due Nov. 3, 2023 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par of $10 plus the greater of the index return and 37.1%.
If the index falls by up to its 80% trigger level, the payout will be par plus the absolute value of the index return.
Otherwise, investors will be fully exposed to any losses.
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 trigger jump securities
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Underlying index: | S&P 500
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Amount: | $30,183,460
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Maturity: | Nov. 3, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains, par plus greater of return and 37.1%; if index falls by up to 20%, par plus absolute return; otherwise, 1% loss per 1% decline
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Initial level: | 2,711.74
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Trigger level: | 2,169.392, 80% of initial level
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Pricing date: | Oct. 31
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Settlement date: | Nov. 5
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3%
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Cusip: | 61768T399
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