By Sarah Lizee
Olympia, Wash., May 14 – Morgan Stanley Finance LLC priced $9.57 million of 0% buffered Performance Leveraged Upside Securities due May 15, 2023 linked to a basket of the S&P MidCap 400 index with a 60% weight and the iShares Core S&P Small-Cap ETF with a 40% 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, capped at par plus 46.85%.
If the final basket value is less than the initial basket value but is greater than or equal to 80% of the initial basket value, investors will receive par.
If the final basket value is less than 80% of the initial basket value, investors will lose 1.25% for every 1% decline beyond 20%.
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 MidCap 400 index (60% weight) and iShares Core S&P Small-Cap ETF (40% weight)
|
| Amount: | $9,568,000
|
| Maturity: | May 15, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the basket gains, par plus 140% of the basket return, capped at par plus 46.85%; if the final basket value is less than the initial basket value but is greater than or equal to 80% of the initial basket value, par; if the final basket value is less than 80% of the initial basket value, 1.25% loss for every 1% decline beyond 20%
|
| Initial levels: | 1,933.43 for index, $79.32 for ETF
|
| Pricing date: | May 10
|
| Settlement date: | May 15
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | None
|
| Cusip: | 61768D7H2
|
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