By Susanna Moon
Chicago, Jan. 2 – Morgan Stanley Finance LLC priced $1.94 million of 0% accelerated return securities due Dec. 19, 2023 linked to the MSCI Emerging Markets index, according to a 424B2 filed with the Securities and Exchange Commission.
If the index closes at or above its initial level, the payout at maturity will be par plus 121% of the index gain.
If the index falls by up to 20%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline beyond 20%.
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: | Accelerated return securities
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| Underlying index: | MSCI Emerging Markets index
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| Amount: | $1,944,000
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| Maturity: | Dec. 19, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index gains, par plus 121% of return; if index falls by up to 20%, par plus absolute return; otherwise, 1% loss per 1% decline beyond 20%
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| Initial level: | 971.90
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| Pricing date: | Dec. 14
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| Settlement date: | Dec. 19
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3%
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| Cusip: | 61768DTQ8
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