By Sarah Lizee
Olympia, Wash., April 30 – Morgan Stanley Finance LLC priced $2.23 million of 0% dual directional trigger Performance Leveraged Upside Securities due April 30, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the index finishes above its initial level, the payout at maturity will be par plus 110% of the index return.
If the index finishes at or below its initial level but at or above its trigger level, the payout will be par plus the absolute value of the index return. The trigger level is 70% of the initial index level.
If the index finishes below its trigger level, investors will be fully exposed to the index’s decline from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional trigger Performance Leveraged Upside Securities
|
| Underlying index: | S&P 500
|
| Amount: | $2.23 million
|
| Maturity: | April 30, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index finishes above initial level, par plus 110% of index return; if index finishes at or below initial level but at or above trigger level, par plus absolute value of index return; if index finishes below trigger level, full exposure to decline
|
| Initial level: | 2,926.17
|
| Trigger level: | 2,048.319, 70% of initial level
|
| Pricing date: | April 25
|
| Settlement date: | April 30
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 4.35%
|
| Cusip: | 61768D4T9
|
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