New York, July 12 – Morgan Stanley Finance LLC priced $3.45 million of 0% dual directional buffered participation securities due June 30, 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 be exposed to any 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: | $3,451,000
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Maturity: | June 30, 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 beyond 20%
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Initial level: | 4,378.41
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Cap: | 100%
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Buffer: | 20%
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Pricing date: | June 27
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Settlement date: | June 30
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 4.25%
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Cusip: | 61771WAW8
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