By Marisa Wong
Morgantown, W.Va., March 21 – Morgan Stanley Finance LLC priced $1.95 million of 0% enhanced buffered jump securities due March 11, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the index finishes at or above its 90% downside threshold, the payout at maturity will be par plus the greater of the index return and the upside payment of 38.75%.
If the index finishes below the downside threshold but at or above 75% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline beyond 25%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Enhanced buffered jump securities
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| Underlying index: | S&P 500
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| Amount: | $1.95 million
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| Maturity: | March 11, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index finishes at or above downside threshold, par plus greater of index return and 38.75%; if index finishes below downside threshold but at or above 75% of initial level, par; otherwise, 1% loss for every 1% decline beyond 25%
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| Initial level: | 2,771.45
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| Downside threshold: | 2,494.305, 90% of initial level
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| Pricing date: | March 6
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| Settlement date: | March 11
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 61768D2M6
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