New York, Nov. 30 – Morgan Stanley Finance LLC priced $4.65 million of 0% dual directional buffered participation securities due Nov. 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 100% of the index return.
Investors will receive par plus 100% of absolute return of the index if it declines but by no more than the 20% buffer and will be exposed to any decline in the index beyond the buffer.
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: | $4,653,000
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| Maturity: | Nov. 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 100% of index return; par plus 100% of absolute return of index if it declines but by no more than 20%; exposure to loss of index beyond buffer
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| Initial level: | 4,550.43
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| Upside leverage: | 100%
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| Cap: | None
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| Absolute return: | 100%
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| Buffer: | 20%
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| Pricing date: | Nov. 27
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| Settlement date: | Nov. 30
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 4.25%
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| Cusip: | 61775MSJ6
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