By Wendy Van Sickle
Columbus, Ohio, March 20 – Morgan Stanley Finance LLC priced $2.5 million of 0% enhanced buffered jump securities due April 18, 2024 linked to the shares of Occidental Petroleum Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the stock finishes at or above its 85% buffer level, the payout at maturity will be par plus 22%.
Otherwise, investors will lose 1.1765% for every 1% decline beyond 15%.
Morgan Stanley & Co. LLC is the agent and J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA is the placement agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Enhanced buffered jump securities
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| Underlying stock: | Occidental Petroleum Corp.
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| Amount: | $2.5 million
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| Maturity: | April 18, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above buffer level, par plus 22%; otherwise, 1.1765% loss for every 1% decline beyond 15%
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| Initial level: | $59.15
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| Buffer level: | 85% of initial level
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| Pricing date: | March 14
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| Settlement date: | March 17
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| Agents: | Morgan Stanley & Co. LLC with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agent
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| Fees: | 0.5%
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| Cusip: | 61774XAY9
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