By Kiku Steinfeld
Chicago, Feb. 6 – Morgan Stanley Finance LLC priced $250,000 of 0% trigger Performance Leveraged Upside Securities with daily trigger monitoring due Feb. 2, 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.
A trigger event will occur if the index closes below 75% of its initial value on any day during the life of the notes.
The payout at maturity will be par plus 300% of any index gain, subject to a maximum return of $1,155 per $1,000 principal amount of notes. If the index finishes below its initial level but does not ever close below its 75% trigger level, the payout at maturity will be par.
Otherwise, investors will lose 1% for each 1% decline of the index from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Trigger Performance Leveraged Upside Securities with daily trigger monitoring
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| Underlying index: | S&P 500
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| Amount: | $250,000
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| Maturity: | Feb. 2, 2022
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| Coupon: | 0%
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| Price: | Par of $1,000
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| Payout at maturity: | Par plus 3 times any index gain, capped at par plus 15.5%; par if index finishes below its initial level but does not ever close below trigger level; otherwise, 1% loss for each 1% decline
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| Initial index level: | 3,276.24
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| Trigger level: | 2,457.18, 75% of initial level
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| Pricing date: | Jan. 28
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| Settlement date: | Jan. 31
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.45%
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| Cusip: | 61770FBD7
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