By Wendy Van Sickle
Columbus, Ohio, March 6 – Morgan Stanley priced $1 million of 0% dual directional buffered Performance Leveraged Upside Securities due Sept. 2, 2021 linked to the worse performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes above the initial level, the payout at maturity will be par plus 150% of the gain of the laggard index.
If either index falls but not by more than 20% of its initial level, the payout will be par plus the absolute value of the return.
Otherwise, investors will be exposed to any losses beyond the 20% buffer.
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 Performance Leveraged Upside Securities
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| Underlying index: | S&P 500, Russell 2000
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| Amount: | $1 million
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| Maturity: | Sept. 2, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of each is greater than initial index level, par plus 150% of lesser-performing index return; if lesser-performing index falls by up to 20%, par plus absolute value of lesser-performing index return; otherwise, exposure to loss of lesser-performing index beyond 20%
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| Initial index levels: | 2,784.49 for S&P and 1,575.549 for Russell
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| Pricing date: | Feb. 28
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| Settlement date: | March 5
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| Agent: | Morgan Stanley & Co. LLC with Morgan Stanley Wealth Management handling distribution
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| Fees: | 0.75%
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| Cusip: | 61768DN92
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