New York, Jan. 2 – Morgan Stanley Finance LLC priced $4.92 million of 0% dual directional buffered participation securities due Dec. 27, 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.
Investors will receive par plus 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: | $4,918,000
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| Maturity: | Dec. 27, 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; par plus absolute return of index if it declines by no more than 25%; otherwise, 1% loss for each 1% decline beyond 25%
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| Initial level: | 4,746.75
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| Buffer: | 25%
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| Pricing date: | Dec. 21
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| Settlement date: | Dec. 27
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61775MM45
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