New York, May 2 – Morgan Stanley Finance LLC priced $2.67 million of 0% dual directional buffered participation securities due April 28, 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 the index return, subject to a maximum return of par plus 100%.
Investors will receive par plus absolute return of the index if it declines by no more than 20% and will lose 1% for each 1% decline in the index beyond 20%.
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: | $2,674,000
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| Maturity: | April 28, 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 index return, subject to a maximum return of par plus 100%; par plus absolute return of index if it declines by no more than 20%; otherwise, lose 1% for each 1% decline in the index beyond 20%
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| Initial level: | 4,071.63
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| Cap: | 100%
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| Buffer: | 20%
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| Pricing date: | April 25
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| Settlement date: | April 28
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 4.25%
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| Cusip: | 61774XJY0
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