New York, Dec. 20 – Morgan Stanley Finance LLC priced $22.05 million of 0% trigger jump securities due Dec. 20, 2028 linked to the iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the fund is positive, the payout at maturity will be par plus the greater of the fund return and 40%. Investors will receive par if the fund declines but finishes at or above the 80% trigger level and will lose 1% for every 1% that the fund declines if it finishes below the trigger level.
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: | Trigger jump securities
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| Underlying ETF: | iShares Russell 2000 Value ETF
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| Amount: | $22,045,000
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| Maturity: | Dec. 20, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If fund return is positive, par plus greater of fund return and 40%; par if fund declines but finishes at or above trigger level; 1% loss for every 1% that fund declines if it finishes below trigger level
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| Initial level: | $153.03
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| Upside payment: | 40%
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| Trigger: | $122.424, 80% of initial level
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| Pricing date: | Dec. 15
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| Settlement date: | Dec. 20
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.5% including a structuring fee of 0.5%
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| Cusip: | 61775MY91
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