By William Gullotti
Buffalo, N.Y., Dec. 21 – Morgan Stanley Finance LLC priced $5 million of 0% trigger Performance Leveraged Upside Securities due Dec. 3, 2024 linked to an equally-weighted basket of four currencies relative to the U.S. dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Brazilian real, the Russian ruble, the Indian rupee and the Chinese renminbi.
The notes are guaranteed by Morgan Stanley.
If the final basket level is greater than or equal to the initial level, the payout at maturity will be par plus 15 times the basket return.
If the basket declines by 30% or less, the payout will be par. Otherwise, investors will lose 1% for every 1% that the basket declines 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
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| Underlying basket: | Brazilian real, Russian ruble, Indian rupee, Chinese renminbi; equal weights
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| Amount: | $5 million
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| Maturity: | Dec. 3, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final basket level is greater than initial level, par plus 15 times basket return; if final basket level is less than initial basket level but greater than or equal to trigger level, par; otherwise, 1% loss for every 1% that basket declines from initial level
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| Initial exchange rates: | 5.6199 for Brazilian real, 74.8947 for Russian ruble, 75.0885 for Indian rupee, 6.3794 for Chinese renminbi
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| Trigger level: | 70% of initial level
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| Pricing date: | Nov. 30
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| Settlement date: | Dec. 3
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61773FEN9
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