By Wendy Van Sickle
Columbus, Ohio, March 6 – Morgan Stanley Finance LLC priced $2.8 million of 0% dual directional buffered participation securities due Dec. 1, 2022 linked to the worse performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes above the initial level, the payout at maturity will be par plus the gain of the laggard index.
If either index falls but not by more than 15%, the payout will be par plus the absolute value of the return of the laggard index.
Otherwise, investors will lose 1% for each 1% loss of lesser-performing index beyond the buffer.
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: | Dual directional buffered participation securities
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| Underlying index: | S&P 500, Russell 2000
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| Amount: | $2.8 million
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| Maturity: | Dec. 1, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of each is greater than initial index level, par plus the gain of lesser-performing index return; if lesser-performing index falls by up to 15%, par plus absolute value of lesser-performing index return; otherwise, 1% loss for each 1% loss lesser-performing index beyond 15%
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| Initial levels: | 2,954.22 for S&P and 1,476.431 for Russell
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| Buffer levels: | 2,511.087 for S&P and 1,254.966 for Russell; 85% of initial levels
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| Pricing date: | Feb. 28
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| Settlement date: | March 4
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 61770FGB6
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