By Kiku Steinfeld
Chicago, Jan. 11 – Morgan Stanley Finance LLC priced $519,000 of 0% dual directional buffered PLUS due Oct. 30, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gains the payout will be par plus 125% of the index return subject to a maximum return of par plus 21%.
The payout will be par plus the absolute value of the index return if the index declines but by no more than the 20% buffer.
Investors will lose 1% for every 1% that the index declines beyond the buffer.
The securities are non-callable.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional buffered PLUS
|
| Underlying index: | S&P 500 index
|
| Amount: | $519,000
|
| Maturity: | Oct. 30, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index gains par plus 125% of index return subject to a maximum return of par plus 21%; par plus absolute value of index return if index declines but by no more than the 20% buffer; 1% loss for every 1% that index declines beyond buffer
|
| Upside leverage: | 125%
|
| Cap: | 21%
|
| Buffer: | 20%
|
| Buffer level: | 3,257.304, 80% of initial level
|
| Call: | Non-callable
|
| Initial level: | 4,071.63
|
| Pricing date: | April 25, 2023
|
| Settlement date: | April 28, 2023
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.5%
|
| Cusip: | 61774XMZ3
|
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