By Sarah Lizee
Olympia, Wash., March 31 – Morgan Stanley Finance LLC priced $1.87 million of 0% trigger Performance Leveraged Upside Securities due March 28, 2024 linked to the lesser performing of the S&P 500 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If each asset finishes above its initial level, the payout at maturity will be par plus 270% of the return of the least performing asset.
If any asset finishes at or below its initial level but each one finishes at or above its trigger level, 70% of its initial level, the payout will be par.
If any asset finishes below its trigger level, investors will lose 1% for every 1% that the least performing asset declines from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Trigger Performance Leveraged Upside Securities
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| Underlying assets: | S&P 500 index and iShares MSCI Emerging Markets ETF
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| Amount: | $1,871,000
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| Maturity: | March 28, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each asset finishes above its initial level, par plus 270% of the return of the least performing asset; if any asset finishes at or below its initial level but each one finishes at or above its trigger level, par; if any asset finishes below its trigger level, 1% loss for every 1% that the least performing asset declines from its initial level
|
| Initial levels: | 2,237.40 for index, $30.61 for ETF
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| Trigger levels: | 1,566.18 for index, $21.427 for ETF; 70% of initial levels
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| Pricing date: | March 23
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| Settlement date: | March 26
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| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.25%
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| Cusip: | 61770FWL6
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