New York, May 17 – Morgan Stanley Finance LLC priced $1.75 million of 0% dual directional buffered PLUS due May 15, 2026 linked to the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF gains, the payout will be par plus 150% of the ETF return, subject to a maximum return of par plus 66%.
The payout will be par plus the absolute value of the ETF return if the ETF declines by no more than 20%.
Otherwise, investors will lose 1% for every 1% that the ETF declines beyond 20%.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Dual directional buffered PLUS
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| Underlying ETF: | SPDR S&P Regional Banking ETF
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| Amount: | $1,748,000
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| Maturity: | May 15, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If ETF gains, par plus 150% of ETF return, subject to a maximum return of par plus 66%; par plus absolute value of ETF return if ETF declines by no more than 20%; otherwise, 1% loss for every 1% that ETF declines beyond 20%
|
| Initial level: | $36.37
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| Upside leverage: | 150%
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| Cap: | 66%
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| Buffer: | 20%
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| Buffer level: | $29.096, 80% of initial level
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| Pricing date: | May 12
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| Settlement date: | May 17
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
|
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| Cusip: | 61774XE66
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