By Wendy Van Sickle
Columbus, Ohio, April 15 – Morgan Stanley Finance LLC priced $1.51 million of 0% trigger Performance Leveraged Upside Securities due April 14, 2025 linked to the worst performing of the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes above its initial level, the payout at maturity will be par plus 165% of the lesser-performing index’s return.
If the final level of either index is less than or equal to its initial level but the final level of each index is greater than or equal to its trigger level, the payout will be par. For each index, the trigger level is 70% of its initial level.
If the final level of either index is less than its trigger level, investors will be exposed to the decline of the lesser-performing index from its initial level.
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 Performance Leveraged Upside Securities
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| Underlying indexes: | Dow Jones industrial average and S&P 500
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| Amount: | $1.51 million
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| Maturity: | April 14, 2025
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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 165% of lesser-performing index’s return; if final level of either index is less than or equal to initial level but final level of each index is greater than or equal to trigger level, par; if final level of either index is less than trigger level, exposure to decline of lesser-performing index from initial level
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| Initial levels: | 2,789.82 for S&P, 23,719.37 for Dow
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| Trigger levels: | 1,952.874 for S&P, 16,603.559 for Dow, or 70% of initial levels
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| Pricing date: | April 9
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| Settlement date: | April 15
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61770FK96
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