By William Gullotti
Buffalo, N.Y., Feb. 4 – Morgan Stanley Finance LLC priced $6.87 million of 0% dual directional buffered participation securities due Feb. 5, 2025 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout at maturity will be par plus the gain up to a maximum payout of par plus 25.1%.
If the index declines up to 10%, the payout will be par plus the absolute value of the return.
Otherwise, investors will lose 1% for each 1% decline beyond 10%.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional buffered participation securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $6,872,800
|
| Maturity: | Feb. 5, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is greater than initial index level, par plus index return, up to a maximum payout of par plus 25.1%; if the index falls by up to 90% buffer level, par plus absolute value of the return; otherwise, 1% loss for each 1% decline beyond 10%
|
| Initial level: | 4,515.55
|
| Buffer level: | 4,063.995; 90% of initial levels
|
| Pricing date: | Jan. 31
|
| Settlement date: | Feb. 3
|
| Agent: | Morgan Stanley & Co. LLC with Morgan Stanley Wealth Management handling distribution
|
| Fees: | 3%
|
| Cusip: | 61773N783
|
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