By Kiku Steinfeld
Chicago, Oct. 20 – Morgan Stanley Finance LLC priced $424,000 of 0% buffered participation securities due July 30, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The payout at maturity will be par plus any index gain, capped at 31%.
Investors will receive par if the index declines by up to 15% and will lose 1% for every 1% index decline beyond 15%.
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 participation securities
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| Underlying index: | S&P 500
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| Amount: | $424,000
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| Maturity: | July 30, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus any index gain, capped at par plus 31%; par if index falls by up to 15%; exposure to losses beyond 15%
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| Initial index level: | 4,401.46
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| Buffer level: | 3,741.241 or 85%
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| Pricing date: | July 27
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| Settlement date: | July 30
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 4.25%
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| Cusip: | 61773FDN0
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