Chicago, April 15 – Morgan Stanley Finance LLC priced $500,000 of 0% capped contingent buffer equity notes due Feb. 5, 2025 linked to the iShares MSCI China ETF, according to an FWP filing with the Securities and Exchange Commission.
If the ETF finishes above its initial level, investors will receive par plus the greater of the return or 35.05%.
If the ETF declines but does not finish below its 80% knock-out buffer level, investors will receive par.
Otherwise, investors will have a 1% loss for each 1% decline in the ETF.
Morgan Stanley is the guarantor.
Morgan Stanley & Co. LLC and JPMorgan are the agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Capped contingent buffer equity notes
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| Underlying ETF: | iShares MSCI China ETF
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| Amount: | $500,000
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| Maturity: | Feb. 5, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If ETF finishes positive, par plus greater of return or 35.05%; par if ETF declines but not more than 20%; otherwise, 1% loss for each 1% decline in ETF from initial level
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| Initial share price: | $36.80
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| Knock-out level: | $29.44, 80% of initial share price
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| Pricing date: | Jan. 18
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| Settlement date: | Jan. 23
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| Agent: | Morgan Stanley & Co. LLC and JPMorgan
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| Fees: | 1%
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| Cusip: | 61771WQD3
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