Chicago, June 29 – Morgan Stanley Finance LLC priced $2 million of 0% dual directional buffered participation securities due July 5, 2024 linked to the Russell 2000 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 the index return subject to a maximum return of par plus 10.25%.
Investors will receive par plus 1.5 times the absolute return of the index if it declines but by no more than the 15% 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
|
| Underlying index: | Russell 2000 index
|
| Amount: | $2 million
|
| Maturity: | July 5, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If return of index is positive, par plus index return subject to a maximum return of par plus 10.25%; par plus 1.5 times absolute return of index if it declines but by no more than 15%; exposure to loss of index beyond buffer
|
| Initial level: | 1,749.650
|
| Buffer level: | 1,487.203, 85% of initial level
|
| Upside leverage: | 100%
|
| Cap: | 10.25%
|
| Absolute return: | 150%
|
| Buffer: | 15%
|
| Pricing date: | May 31
|
| Settlement date: | June 5
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0%
|
| Cusip: | 61771WAD0
|
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