By Sarah Lizee
Olympia, Wash., May 2 – Morgan Stanley Finance LLC priced $975,000 of 0% buffered Performance Leveraged Upside Securities due May 5, 2023 linked to a basket of the S&P 500 index with a 50% weight, the Euro Stoxx Select Dividend 30 index with a 30% weight and the iShares MSCI Emerging Markets ETF with a 20% weight, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
At maturity, if the basket gains, the payout will be par plus 140% of the basket return.
If the final basket value is less than the initial basket value but is greater than or equal to 95% of the initial basket value, investors will lose 1% for every 1% decline.
If the final basket value is less than 95% of the initial basket value but is greater than or equal to 65% of the initial basket value, the payment at maturity will be 95% of par.
If the final basket value is less than 65% of the initial basket value, investors will lose 1% for every 1% decline subject to the minimum payment at maturity of 30% of par.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Buffered Performance Leveraged Upside Securities
|
| Basket components: | S&P 500 index (50% weight), Euro Stoxx Select Dividend 30 index (30% weight) and iShares MSCI Emerging Markets ETF (20% weight)
|
| Amount: | $975,000
|
| Maturity: | May 5, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the basket gains, par plus 140% of the basket return; if the basket falls by up to 5%, 1% loss for every 1% decline; if the basket falls by more than 5% but not by more than 35%, 95% of par; if the basket falls by more than 35%, 1% loss for every 1% decline, subject to minimum payout of 30% of par
|
| Initial levels: | 2,943.03 for S&P, 2,051.43 for Stoxx, $43.97 for ETF
|
| Pricing date: | April 29
|
| Settlement date: | May 2
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.75%
|
| Cusip: | 61768D7E9
|
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