Chicago, Aug. 8 – Morgan Stanley Finance LLC priced $1.45 million of 0% review notes due Dec. 21, 2023 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 notes will be automatically called at par plus a 10% call premium if the index closes at or above its initial level on Dec. 30, 2022.
If the notes are not called and the index finishes positive, the payout at maturity will be par plus the greater of the index return and par plus 20%.
If the index declines but finishes at or above 85% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% that the index declines from the initial level.
Morgan Stanley & Co. LLC is the agent with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Review notes
|
| Underlying index: | S&P 500 index
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| Amount: | $1,450,000
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| Maturity: | Dec. 21, 2023
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index gains, par plus greater of index return and par plus 20%; if the index finishes flat or falls by up to 15%, par; otherwise, 1% loss for each 1% index decline from initial level
|
| Call: | Automatically at par plus 10% call premium if the index closes at or above its initial level on Dec. 30, 2022
|
| Initial level: | 4,620.64
|
| Trigger level: | 85% of initial level
|
| Pricing date: | Dec. 17, 2021
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| Settlement date: | Dec. 22, 2021
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| Agent: | Morgan Stanley & Co. LLC with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents
|
| Fees: | 1.5%
|
| Cusip: | 61773HUT4
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