By Sarah Lizee
Olympia, Wash., Nov. 12 – Morgan Stanley Finance LLC priced $1.7 million of 0% bearish equity-linked partial principal at risk securities due May 5, 2022 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 return is negative, the payout at maturity will be par plus 1% for every 1% that the index declines from its initial level, capped at par plus 50%.
If the index return is flat or positive, investors will lose 1% for every 1% that the index increases from its initial level, subject to a minimum payout of 85% of par.
Morgan Stanley & Co. LLC is the underwriter.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Bearish equity-linked partial principal at risk securities
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Underlying index: | S&P 500
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Amount: | $1.7 million
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Maturity: | May 5, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is negative, par plus 1% for every 1% that the index declines from its initial level, capped at par plus 50%; if the index return is flat or positive, investors will lose 1% for every 1% that the index increases from its initial level, subject to a minimum payout of 85% of par
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Initial level: | 3,066.91
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Pricing date: | Nov. 1
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Settlement date: | Nov. 6
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Underwriter: | Morgan Stanley & Co. LLC
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Fees: | 0.25%
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Cusip: | 61769HL78
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