Chicago, Aug. 19 – Morgan Stanley Finance LLC priced $2 million of 0% dual directional buffered participation securities due Feb. 16, 2023 linked to the worst performing of the Nasdaq-100 index, S&P 500 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the worst performing index is positive, the payout at maturity will be par plus 100% of the return of the worst performing index subject to a maximum return of par plus 10.5%.
Investors will receive par plus 100% of absolute return of the worst performing index if it declines but by no more than the 10% buffer and will be exposed to any decline in the worst 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 indexes: | Nasdaq-100 index, S&P 500 index and Russell 2000 index
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| Amount: | $2 million
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| Maturity: | Feb. 16, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If return of worst performing index is positive, par plus 100% of that index's return subject to a maximum return of par plus 10.5%; par plus 100% of absolute return of worst performing index if it declines but by no more than 10%; exposure to loss of worst performing index beyond buffer
|
| Initial levels: | 13,565.87 for Nasdaq, 2,016.616 for Russell, 4,280.15 for S&P
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| Upside leverage: | 100%
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| Cap: | 10.5%
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| Absolute return: | 100%
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| Buffer: | 10%
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| Pricing date: | Aug. 12
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| Settlement date: | Aug. 17
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 61774DY27
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