By Susanna Moon
Chicago, Dec. 22 – Morgan Stanley Finance LLC priced $3.46 million of 0% buffered jump securities due Dec. 13, 2021 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.
The notes are guaranteed by Morgan Stanley.
If each index finishes at or above its initial level, the payout at maturity will be par plus the greater of the upside payment of 25% and the gain of the worse performing index.
If either index falls by up to its 80% downside threshold, the payout will be par.
Otherwise, investors will be exposed to any decline of the worse performing index beyond 20%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Buffered jump securities
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| Underlying indexes: | S&P 500, Russell 2000
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| Amount: | $3,462,000
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| Maturity: | Dec. 13, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index gains, par plus greater of 25% and gain of worse performing index; if either index falls by up to 20%, par; otherwise, 1% loss per 1% decline of worse performer beyond 20%
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| Initial levels: | 2,651.50 for S&P and 1,521.724 for Russell
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| Pricing date: | Dec. 8
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| Settlement date: | Dec. 13
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 61768CWF0
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