By William Gullotti
Buffalo, N.Y., Nov. 9 – Morgan Stanley Finance LLC priced $2.68 million of 0% buffered return enhanced notes due Nov. 7, 2025 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus 200% of any index gain, subject to a maximum return of par plus 47.92%.
Investors will receive par if the index falls by up to 20%. Otherwise, investors will lose 1.25% for each 1% decline beyond 20%.
The notes are guaranteed by Morgan Stanley
Morgan Stanley & Co. LLC is the agent with J.P. Morgan Securities LLC and JPMorgan Chase Bank, N.A. as placement agents.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Buffered return enhanced notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $2,684,000
|
| Maturity: | Nov. 7, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any index gain, capped at par plus 47.92%; par if index declines by 20% or less; otherwise, lose 1.25% for every 1% decline beyond 20%
|
| Initial value: | 3,770.55
|
| Buffer level: | 80% of initial level
|
| Pricing date: | Nov. 4
|
| Settlement date: | Nov. 9
|
| Agent: | Morgan Stanley & Co. LLC with J.P. Morgan Securities LLC and JPMorgan Chase Bank, N.A. as placement agents
|
| Fees: | 2%
|
| Cusip: | 61774HG77
|
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