By Susanna Moon
Chicago, Feb. 1 – Morgan Stanley Finance LLC priced $500,000 of 0% dual directional trigger jump securities due Jan. 31, 2022 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the index finishes at or above its initial level, the payout at maturity will be par of $10 plus the greater of the index return and 25%.
If the index falls but finishes at or above the trigger level, 70% of the initial index level, the payout will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to any losses.
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 trigger jump securities
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| Underlying index: | S&P 500
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| Amount: | $500,000
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| Maturity: | Jan. 31, 2022
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If index gains, par plus return floor of 25%; if index falls by up to trigger level, par plus absolute value of return; if index finishes below trigger level, 1% loss per 1% decline
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| Initial index level: | 2,296.68
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| Trigger level: | 1,607.676, 70% of initial level
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.625%
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| Cusip: | 61768CDK0
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