By Wendy Van Sickle
Columbus, Ohio, April 5 – Morgan Stanley Finance LLC priced $7.56 million of 0% market-linked securities – leveraged upside participation to a cap and contingent downside due March 31, 2034 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 165% of any gain, capped at par plus 50%.
Investors will receive par if the index falls by up to 30% and will be fully exposed to losses if the index declines more than 30%.
Morgan Stanley guaranteed the notes.
Wells Fargo Securities, LLC and Morgan Stanley & Co. LLC are the agents.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Market-linked securities – leveraged upside participation to a cap and contingent downside
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Underlying index: | S&P 500 index
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Amount: | $7,559,000
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Maturity: | March 31, 2034
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 165% of any gain, capped at par plus 50%; par if index falls by up to 30%; 1% loss for each 1% decline from initial level
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Initial level: | 5,254.35
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Buffer level: | 3,678.045; 70% of initial level
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Pricing date: | March 28
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Settlement date: | April 3
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Agents: | Wells Fargo Securities LLC and Morgan Stanley & Co. LLC
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Fees: | 4.37%
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Cusip: | 61776LML8
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