By Susanna Moon
Chicago, Dec. 28 – Morgan Stanley Finance LLC priced $1.33 million of 0% trigger Performance Leveraged Upside Securities due Dec. 28, 2021 linked to the Health Care Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The payout at maturity will be par of $10 plus 125% of any fund gain.
Investors will receive par if the fund falls by up to 30% and will be fully exposed to any losses if the fund finishes below the 70% trigger 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 fund: | Health Care Select Sector SPDR fund
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| Amount: | $1,327,000
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| Maturity: | Dec. 28, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 125% of any fund gain; par if fund falls by up to trigger; full exposure to any losses if fund finishes below trigger
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| Initial level: | $68.94
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| Trigger level: | $48.258, 70% of initial level
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| Pricing date: | Dec. 22
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| Settlement date: | Dec. 28
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.625%
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| Cusip: | 61768CCQ8
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