New York, Oct. 18 – Morgan Stanley Finance LLC priced $2 million of 0% dual directional buffered participation securities due Oct. 10, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus the index return, subject to a maximum return of par plus 24%.
Investors will receive par plus absolute return of the index if it declines by no more than 25% and will be exposed to any decline in the index beyond the buffer.
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: | Dual directional buffered participation securities
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| Underlying index: | S&P 500 index
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| Amount: | $2 million
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| Maturity: | Oct. 10, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If return of index is positive, par plus index return capped at 24%; par plus absolute return of index if it declines by no more than 25%; otherwise, 1% loss for every 1% decline beyond 25%
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| Initial level: | 3,639.66
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| Cap: | 24%
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| Buffer: | 25%
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| Strike date: | Oct. 7
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| Pricing date: | Oct. 11
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| Settlement date: | Oct. 14
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61774HVX3
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