By Angela McDaniels
Tacoma, Wash., Dec. 6 – Morgan Stanley Finance LLC priced $1.18 million of 0% dual directional buffered participation securities due June 1, 2022 linked to 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 its initial level, the payout at maturity will be par plus 103% of the return of the lesser-performing index.
If the final level of either index is less than or equal to its initial level but the final level of each index is greater than or equal to 85% of its initial level, the payout will be par plus the absolute value of the lesser-performing index’s return.
If the final level of either index is less than 85% of its initial level, investors will lose 1% for every 1% that the lesser-performing index declines beyond 15%.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Dual directional buffered participation securities
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| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $1.18 million
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| Maturity: | June 1, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes above initial level, par plus 103% of return of lesser-performing index; if final level of either index is less than or equal to initial level but final level of each index is greater than or equal to 85% of initial level, par plus absolute value of lesser-performing index’s return; if final level of either index is less than 85% of initial level, 1% loss for every 1% that lesser-performing index declines beyond 15%
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| Initial levels: | 3,140.52 for S&P 500 and 1,624.231 for Russell 2000
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| Pricing date: | Nov. 26
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| Settlement date: | Dec. 2
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.85%
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| Cusip: | 61769HL52
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