By Wendy Van Sickle
Columbus, Ohio, March 13 – Morgan Stanley Finance LLC sold $5 million of 0% buffer gears due March 16, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the index return is greater than zero, the payout at maturity will be par of $10 plus 1.395 times the index return. Investors will receive par if the index declines by 25% or less and lose 1% for every 1% that the index may decline beyond 25%.
Morgan Stanley & Co. LLC and UBS Financial Services Inc. are the agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Buffer gears
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| Underlying index: | S&P 500
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| Amount: | $5 million
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| Maturity: | March 16, 2026
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 1.395 times index return; par if index declines by 25% or less; 1% loss for every 1% that index declines beyond 25%
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| Initial level: | 2,783.3
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| Downside threshold: | 2,087.48, 75% of initial level
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| Pricing date: | March 11
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| Settlement date: | March 14
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| Agents: | Morgan Stanley & Co. LLC and UBS Financial Services Inc.
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| Fees: | 3.5%
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| Cusip: | 61768X523
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