By Taylor Fox
New York, Feb. 22 – Morgan Stanley Finance LLC priced $1 million of 0% buffered PLUS notes due Feb. 14, 2022 tied to the worst performing of the common stocks of Boeing Co., Microsoft Corp. and Visa Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The payout at maturity will be par plus 150% of the stock gain of the worst performer, if the least performing stock finishes above its initial value.
Investors will receive par if the lowest performing stock declines but not more than 10%.
Otherwise, investors will be exposed to the losses of the stock beyond the 10% buffer.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Buffered PLUS
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| Underlying stocks: | Boeing Co., Microsoft Corp. and Visa Inc.
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| Amount: | $1 million
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| Maturity: | Feb. 14, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 150% of the lowest stock percent increase, if the lowest performing stock finishes above initial level; par if lowest performing stock declines but not more than 10%; exposure to losses of stock beyond 10% buffer
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| Initial levels: | $210.64 for Boeing, $242.01 for Microsoft and $209.25 for Visa
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| Buffer levels: | $189.576 for Boeing, $217.809 for Microsoft and $188.325 for Visa, 90% of initial levels
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| Pricing date: | Feb. 9
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| Settlement date: | Feb. 12
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 61771E5Q7
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