By Kiku Steinfeld
Chicago, May 26 – Morgan Stanley Finance LLC priced $2.25 million of 0% buffered Performance Leveraged Upside Securities due May 25, 2023 linked to the iShares U.S. Real Estate exchange-traded 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 plus 200% of any fund gain, up to a maximum return of 62%.
Investors will receive par if the fund falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Buffered Performance Leveraged Upside Securities
|
| Underlying fund: | iShares U.S. Real Estate ETF
|
| Amount: | $2.25 million
|
| Maturity: | May 25, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any fund gain, with return capped at 62%; par if fund falls by 10% or less; 1% loss for every 1% decline beyond 10%
|
| Initial share price: | $72.86
|
| Buffer price: | $65.574 or 90% of initial level
|
| Pricing date: | May 20
|
| Settlement date: | May 26
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.25%
|
| Cusip: | 61771BFP4
|
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