New York, March 3 – Morgan Stanley Finance LLC priced $2.13 million of 0% dual directional buffered participation securities due March 2, 2028 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 103% of the index return.
Investors will receive par plus the absolute return of the index if it declines by no more than 25% and will be exposed to any decline in the index beyond 25%.
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: | $2,125,000
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Maturity: | March 2, 2028
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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 103% of index return; par plus absolute return of index if it declines by no more than 25%; otherwise, lose 1% for every 1% decline beyond 25%
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Initial level: | 3,970.15
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Upside leverage: | 103%
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Buffer: | 25%
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Pricing date: | Feb. 28
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Settlement date: | March 3
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.75%
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Cusip: | 61774TVY5
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