By William Gullotti
Buffalo, N.Y., Sept. 15 – Morgan Stanley Finance LLC priced $2.55 million of 0% trigger Performance Leveraged Upside Securities due June 28, 2024 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the index finishes above its initial level, the payout at maturity will be par plus triple the index return, subject to a maximum payout of $1,208.80 per $1,000 face amount of notes.
If the index finishes at or below its initial level but at or above its 75% trigger level, the payout will be par.
If the index finishes below its trigger level, investors will be fully exposed to the index’s decline 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: | Trigger Performance Leveraged Upside Securities
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| Underlying index: | S&P 500 index
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| Amount: | $2.55 million
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| Maturity: | June 28, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus three times any index gain, subject to a maximum payout of par plus 20.88%; par if index finishes flat or falls by up to 25%; otherwise, full exposure to losses
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| Initial index level: | 4,280.7
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| Trigger level: | 3,210.525; 75% of initial level
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| Pricing date: | June 25
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| Settlement date: | June 30
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.75%
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| Cusip: | 61773FBW2
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