By Taylor Fox
New York, Feb. 22 – Morgan Stanley Finance LLC priced $2 million of 0% trigger Performance Leveraged Upside Securities due Jan. 30, 2024 linked to the worst performing of the common stocks of American Airlines Group Inc., Walt Disney Co. and YETI Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If each stock finishes above its initial level, the payout at maturity will be par plus 425% of any gain of the worst performing stock.
If any stock falls but each remains at or above the 85% trigger level, the payout will be par.
Otherwise, investors will be fully exposed to any losses of the worst performing stock.
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
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| Underlying stocks: | American Airlines Group Inc., Walt Disney Co. and YETI Holdings, Inc.
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| Amount: | $2 million
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| Maturity: | Jan. 30, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst-performing stock gains, par plus 425% of the return of the worst performing stock; if any stock falls by up to trigger level, par; otherwise, full exposure to any losses of worst performing stock
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| Initial levels: | $15.82 for American Airlines, $172.78 for Walt Disney and $70.21 for Yeti
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| Trigger levels: | $13.447 for American Airlines, $146.863 for Walt Disney and $59.679 for Yeti; 85% of initial levels
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| Pricing date: | Jan. 25
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| Settlement date: | Jan. 28
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 61771EN87
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