By William Gullotti
Buffalo, N.Y., Jan. 19 – Morgan Stanley Finance LLC priced $2.09 million of 0% trigger Performance Leveraged Upside Securities due Jan. 19, 2027 linked to the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes above its initial level, the payout at maturity will be par plus 126% of the lesser-performing index’s return.
If the final level of any index is less than or equal to its initial level but the final level of each index is greater than or equal to its trigger level, the payout will be par. For each index, the trigger level is 70% of its initial level.
If the final level of any index is less than its trigger level, investors will be exposed to the decline of the worst performer from its initial level.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Trigger Performance Leveraged Upside Securities
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| Underlying indexes: | Dow Jones industrial average, S&P 500 index
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| Amount: | $2.09 million
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| Maturity: | Jan. 19, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes above initial level, par plus 126% of lesser-performing index’s return; if final level of any index is less than or equal to initial level but final level of each index is greater than or equal to trigger level, par; otherwise, exposure to decline of worst performer from initial level
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| Initial levels: | 4,659.03 for S&P, 36,113.62 for Dow
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| Trigger levels: | 3,261.321 for S&P, 25,279.534 for Dow; or 70% of initial levels
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| Pricing date: | Jan. 13
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| Settlement date: | Jan. 19
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | None
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| Cusip: | 61773HZR3
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