New York, Jan. 12 – Morgan Stanley Finance LLC priced $2.52 million of 0% dual directional buffered participation securities due July 10, 2025 linked to the S&P 500 Futures Excess Return index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 100% of the index return subject to a maximum return of par plus 14.75%.
Investors will receive par plus 100% of absolute return of the index if it declines but by no more than the 20% buffer and will be exposed to any decline in the index beyond the buffer.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional buffered participation securities
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| Underlying index: | S&P 500 Futures Excess Return index
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| Amount: | $2,519,000
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| Maturity: | July 10, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If return of index is positive, par plus 100% of index return subject to a maximum return of par plus 14.75%; par plus 100% of absolute return of index if it declines but by no more than 20%; exposure to loss of index beyond buffer
|
| Initial level: | 415.50
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| Upside leverage: | 100%
|
| Cap: | 14.75%
|
| Absolute return: | 100%
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| Buffer: | 20%
|
| Pricing date: | Jan. 5
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| Settlement date: | Jan. 10
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0%
|
| Cusip: | 61771WHB7
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