By William Gullotti
Buffalo, N.Y., May 9 – Morgan Stanley Finance LLC priced $7 million of 0% accelerated return securities due May 1, 2031 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the index is positive, the payout at maturity will be par plus 142.5% of the index return.
Investors will receive par if the index declines up to 50% and lose 1% for every 1% that the index declines from its initial level if it declines beyond trigger 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: | Accelerated return securities
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| Underlying index: | S&P 500 index
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| Amount: | $7 million
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| Maturity: | May 1, 2031
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index return is positive, par plus 142.5% of index return; if index declines up to 50%, par; otherwise, 1% loss for every 1% of index decline from initial level
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| Initial level: | 4,175.2
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| Trigger level: | 2,087.6; 50% of initial level
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| Pricing date: | April 27
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| Settlement date: | May 2
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.9%
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| Cusip: | 61773Q5C9
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