New York, Dec. 7 – Morgan Stanley Finance LLC priced $2.82 million of 0% Trigger Performance Leveraged Upside Securities due Nov. 5, 2024 linked to the Financial Select Sector SPDR Fund, 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 200% of the return of the fund subject to a maximum return of par plus 30.15%. Investors will receive par if the return of the fund is negative but ends at or above the trigger and will lose 1% for every 1% decline if it ends 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 Performance Leveraged Upside Securities
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| Underlying fund: | Financial Select Sector SPDR Fund
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| Amount: | $2,818,180
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| Maturity: | Nov. 5, 2024
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If return of the fund is positive, par plus 200% of the gain of the fund subject to a maximum return of par plus 30.15%; par if the fund declines but finishes at or above trigger level; otherwise, 1% loss for every 1% fund decline from initial level
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| Initial level: | $40.26
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| Trigger level: | $32.208; 80% of initial level
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| Pricing date: | Oct. 29
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| Settlement date: | Nov. 3
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3% including a structuring fee of 0.5%
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| Cusip: | 61773G259
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