By Taylor Fox
New York, March 23 – Morgan Stanley Finance LLC priced $1.58 million of 0% Performance Leveraged Upside Securities (PLUS) notes due Sept. 15, 2022 linked to an ETF basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Financial Select Sector SPDR fund, with a 50% weight, and the Industrial Select Sector SPDR fund, with a 50% weight.
If the final basket level is at least the initial level, the payout at maturity will be par plus 300% of the increase in the basket up to $1,240.
Investors will be exposed to any decline.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Performance Leveraged Upside Securities
|
| Underlying basket: | Financial Select Sector SPDR fund, with a 50% weight, and the Industrial Select Sector SPDR fund, with a 50% weight
|
| Amount: | $1,580,000
|
| Maturity: | Sept. 15, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of any basket gain if basket finishes above initial level up to 124%; otherwise, full exposure to losses of basket
|
| Initial levels: | $34.52 for Financial Select and $95.42 for Industrial Select
|
| Pricing date: | March 10
|
| Settlement date: | March 15
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 1.5%
|
| Cusip: | 61771VJR2
|
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