By Angela McDaniels
Tacoma, Wash., March 26 – Morgan Stanley Finance LLC priced $250,000 of 0% buffered Performance Leveraged Upside Securities due March 25, 2021 linked to the Financial Select Sector SPDR fund, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the ETF return is positive, the payout at maturity will be par plus double the ETF return, subject to a maximum return of 21.5%. Investors will receive par if the ETF declines by 10% or less and will lose 1% for every 1% that it may decline beyond 10%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Buffered Performance Leveraged Upside Securities
|
| Underlying ETF: | Financial Select Sector fund
|
| Amount: | $250,000
|
| Maturity: | March 25, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If ETF return is positive, par plus 200% of ETF return, subject to 21.5% maximum return; par if ETF drops 10% or less; 1% loss for every 1% decline beyond 10%
|
| Initial share price: | $25.34
|
| Pricing date: | March 22
|
| Settlement date: | March 27
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.75%
|
| Cusip: | 61768DS22
|
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