By Sarah Lizee
Olympia, Wash., March 17 – Morgan Stanley Finance LLC priced $1 million of 0% trigger securities due March 13, 2025 linked to a basket of three indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket components are the Dow Jones industrial average, the S&P 500 index and the Nasdaq-100 index, each with a 33.3333% weight.
If the final value of each individual index is greater than or equal to its initial index value, the payout will be par plus 1.5 times the return of the basket.
If the final value of any individual index is less than its initial index value by up to 30%, the payout will be par plus the absolute value of the basket’s return.
If the final value of any individual index is less than 70% of its initial level, but the final basket value is greater than the initial basket value, the payout will be par plus the 1.5 times the basket return plus the return of the least performing index.
If the final value of any individual index is less than 70% of its initial level, and the final basket value is less than or equal to the initial basket value, investors will be fully exposed to the decline of the least performing index.
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: | Trigger securities
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| Underlying basket components: | Dow Jones industrial average, S&P 500 index and Nasdaq-100 index, each with a 33.3333% weight
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| Amount: | $1 million
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| Maturity: | March 13, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final value of each individual index is greater than or equal to its initial index value, par plus 1.5 times the return of the basket; if the final value of any individual index is less than its initial index value by up to 30%, par plus the absolute value of the basket’s return; if the final value of any individual index is less than 70% of its initial level, but the final basket value is greater than the initial basket value, par plus the 1.5 times the basket return plus the return of the least performing index; if the final value of any individual index is less than 70% of its initial level, and the final basket value is less than or equal to the initial basket value, investors will be fully exposed to the decline of the least performing index
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| Initial levels: | 25,018.16 for Dow, 2,882.23 for S&P, 8,372.266 for Nasdaq
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| Trigger levels: | 17,512.712 for Dow, 2,017.561 for S&P, 945.629 for Russell
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| Pricing date: | March 10
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| Settlement date: | March 13
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | None
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| Cusip: | 61770FTU0
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