New York, May 9 – Morgan Stanley Finance LLC priced $1 million of 0% dual directional buffered participation securities due June 6, 2024 linked to the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the worst performing index is positive, the payout at maturity will be par plus the return of that index, subject to a maximum return of par plus 12%.
Investors will receive par plus 150% of absolute return of the worst performing index if it declines by no more than 15% and lose 1% for every 1% decline in the worst performing index beyond 15%.
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 indexes: | S&P 500 index and Nasdaq-100 index
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| Amount: | $1 million
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| Maturity: | June 6, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If return of worst performing index is positive, par plus that index's return, subject to a maximum return of par plus 12%; par plus 150% of absolute return of worst performing index if it declines by no more than 15%; otherwise, lose 1% for every 1% decline in the worst performing index beyond 15%
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| Initial levels: | 13,030.21 for Nasdaq-100, 4,090.75 for S&P 500
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| Cap: | 12%
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| Absolute return: | 150%
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| Buffer: | 15%
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| Pricing date: | May 3
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| Settlement date: | May 8
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0%
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| Cusip: | 61774XYN7
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