By Kiku Steinfeld
Chicago, July 19 – Morgan Stanley Finance LLC priced $250,000 of 0% buffered Performance Leveraged Upside Securities due May 29, 2026 linked to the worst performing of the Euro Stoxx 50 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of each index is greater than its initial level, the payout at maturity will be par plus 120% of the return of the lesser-performing index.
If the final level of either index is less than or equal to its initial level but the final level of each index is greater than or equal to 80% of its initial level, the payout will be par.
If the final level of either index is less than 80% of its initial level, investors will lose 1% for every 1% that the lesser-performing index declines beyond 20%.
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: | Buffered Performance Leveraged Upside Securities
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| Underlying assets: | Euro Stoxx 50 index, iShares MSCI EAFE ETF
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| Amount: | $250,000
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| Maturity: | May 29, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of each index is greater than initial level, par plus 120% of return of lesser-performing index; if final level of either index is less than or equal to initial level but final level of each index is greater than or equal to 80% of initial level, par; if final level of either index is less than 80% of initial level, 1% loss for every 1% that lesser-performing index declines beyond 20%
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| Initial levels: | 4,036.04 for index, $80.54 for ETF
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| Buffer levels: | 3,228.832 for index, $64.432 for ETF; 80% of initial levels
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| Pricing date: | May 25
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| Settlement date: | May 28
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 4.25%
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| Cusip: | 61771VXU9
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