By William Gullotti
Buffalo, N.Y., Feb. 23 – Morgan Stanley Finance LLC priced $5.5 million 0% bearish buffered jump securities due Nov. 18, 2024 based on the inverse performance of the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the final index value is less than or equal to the 95% threshold level, the payout at maturity will be par plus 41.3%.
If the final index value is less than or equal to initial level but greater than threshold level, par.
Otherwise, investors will lose 1% for every 1% that the index gains.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Bearish buffered jump securities
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| Underlying index: | S&P 500 index
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| Amount: | $5.5 million
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| Maturity: | Nov. 18, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the index finishes at or below threshold level, par plus 41.3%; if the index finishes at or below initial level but greater than threshold level, par; otherwise, lose 1% for every 1% that the index gains
|
| Initial index level: | 4,953.17
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| Threshold level: | 4,705.512; 95% of initial level
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| Strike date: | Feb. 13
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| Pricing date: | Feb. 15
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| Settlement date: | Feb. 21
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| Underwriter: | Morgan Stanley & Co. LLC
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| Distribution: | Morgan Stanley Wealth Management
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| Fees: | 1%
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| Cusip: | 61771WK80
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