By Wendy Van Sickle
Columbus, Ohio, Nov. 12 – Morgan Stanley Finance LLC priced $500,000 of 0% dual directional trigger Performance Leveraged Upside Securities due Nov. 4, 2023 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If each index finishes above its initial level, the payout at maturity will be par plus 107% of the return of the lesser-performing index.
If either index finishes at or below its initial level but each index finishes at or above its trigger level, 70% of its initial level, the payout will be par plus the absolute value of the return of the lesser-performing index.
If either index finishes below its trigger level, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
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 trigger Performance Leveraged Upside Securities
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $500,000
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| Maturity: | Nov. 4, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes above initial level, par plus 107% of return of lesser-performing index; if either index finishes at or below initial level but each index finishes at or above trigger level, par plus absolute value of return of lesser-performing index; if either index finishes below trigger level, 1% loss for every 1% that lesser-performing index declines from initial level
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| Initial index levels: | 2,711.74 for S&P and 1,511.413 for Russell 2000
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| Trigger level: | 1,898.218 for S&P and 1,057.989 for Russell 2000; 70% of initial levels
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| Pricing date: | Oct. 31
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| Settlement date: | Nov. 5
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.8%
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| Cusip: | 61768DGH2
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