By Wendy Van Sickle
Columbus, Ohio, Sept. 7 – Morgan Stanley Finance LLC priced $2.38 million of 0% buffered Performance Leveraged Upside Securities due Sept. 3, 2021 linked to an unequally weighted basket of two exchange-traded funds and one index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The basket consists of the S&P 500 index with a 40% weight, the iShares MSCI EAFE ETF with a 40% weight and the iShares MSCI Emerging Markets ETF with a 20% weight.
The payout at maturity will be par plus 150% of any basket gain up to a 41% return cap.
Investors will receive par if the basket falls by up to 20% and will lose 1% for each 1% decline beyond 20%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Buffered Performance Leveraged Upside Securities
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| Basket components: | S&P 500 index (40% weight), iShares MSCI EAFE ETF (40% weight) and iShares MSCI Emerging Markets ETF (20% weight)
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| Amount: | $2,375,000
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| Maturity: | Sept. 3, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If basket return is positive, par plus 153% of return up to 41% return cap ; par if basket declines by 20% or less; exposure to losses beyond 20%
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| Initial levels: | $66.90 for EAFE ETF, $44.83 for Emerging Markets ETF, 2,471.65 for S&P 500
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| Pricing date: | Aug. 31
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| Settlement date: | Sept. 6
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| Underwriter: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61768CQA8
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