By William Gullotti
Buffalo, N.Y., June 1 – Morgan Stanley Finance LLC priced $7.36 million of 0% buffered Performance Leveraged Upside Securities due May 3, 2023 linked to the iShares Global Clean Energy ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus 200% of the ETF return, subject to a maximum return of $12.40 per security. Investors will receive par if the ETF declines by 10% or less and will lose 1% for every 1% that it declines beyond the 10% buffer.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Buffered Performance Leveraged Upside Securities
|
| Underlying ETF: | iShares Global Clean Energy ETF
|
| Amount: | $7,357,210
|
| Maturity: | May 3, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If ETF return is positive, par plus 200% of ETF return, capped at $12.40 per security; par if ETF declines by 10% or less; 1% loss for every 1% that ETF declines beyond 10% buffer
|
| Initial level: | $23.24
|
| Buffer level: | $20.916; 90% of initial level
|
| Pricing date: | April 30
|
| Settlement date: | May 5
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.5%
|
| Cusip: | 61772X311
|
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