Chicago, Feb. 27 – Morgan Stanley Finance LLC priced $1.81 million of 0% dual directional buffered participation securities due May 7, 2026 linked to the S&P 500 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 of the index return subject to a maximum return of par plus 90%.
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
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| Issue: | Dual directional buffered participation securities
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| Underlying index: | S&P 500 index
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| Amount: | $1.81 million
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| Maturity: | May 7, 2026
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| Coupon: | 0%
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| Price: | Par
|
| Payout at maturity: | If return of index is positive, par plus of index return subject to a maximum return of par plus 90%; 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: | 4,300.17
|
| Buffer level: | 3,440.136, 80% of initial level
|
| Upside leverage: | 100%
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| Cap: | 90%
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| Absolute return: | 100%
|
| Buffer: | 20%
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| Pricing date: | May 4, 2022
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| Settlement date: | May 9, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0%
|
| Cusip: | 61773Q6Z7
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