By Wendy Van Sickle
Columbus, Ohio, Feb. 17 – Morgan Stanley Finance LLC priced $2.8 million of 0% trigger Performance Leveraged Upside Securities due Feb. 17, 2027 linked to the worse performing of the Energy Select Sector SPDR fund and the SPDR Gold trust, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If each ETF finishes above its initial level, the payout at maturity will be par plus 437% of the gain of the lesser performing ETF.
If either ETF falls by up to 30%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.
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 ETFs: | Energy Select Sector SPDR fund, SPDR Gold trust
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| Amount: | $2,802,000
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| Maturity: | Feb. 17, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each ETF gains, par plus 437% of return of lesser performing ETF; if either ETF falls by up to 30%, par; otherwise, 1% loss for each 1% decline of the worst performer
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| Initial levels: | $70.41 for Energy, $173.81 for gold
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| Trigger levels: | $49.287 for Energy, $121.667 for gold; 70% of initial levels
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| Pricing date: | Feb. 11
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| Settlement date: | Feb. 16
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61773HW21
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