By William Gullotti
Buffalo, N.Y., Sept. 24 – Morgan Stanley Finance LLC priced $500,000 of 0% buffered partial participation securities due July 8, 2024 linked to the performance of the SPDR S&P 500 ETF Trust, according to a 424B2 with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
The payout at maturity will be par plus 42.5% of any ETF gain.
If the ETF falls by up to 30%, the payout will be par.
If the ETF falls by more than 30%, investors will lose 1% for every 1% decline of that index beyond 30%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Buffered partial participation securities
|
| Underlying fund: | SPDR S&P 500 ETF Trust
|
| Amount: | $500,000
|
| Maturity: | July 8, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 42.5% of any ETF gain; if ETF falls by up to 30%, par; otherwise, 1% loss for every 1% decline beyond 30%
|
| Initial level: | $433.72
|
| Buffer level: | $303.604; 70% of initial level
|
| Strike date: | July 2
|
| Pricing date: | July 6
|
| Settlement date: | July 9
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.6%
|
| Cusip: | 61773FFG3
|
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