New York, July 11 – Morgan Stanley Finance LLC priced $5 million of 0% dual directional trigger jump securities due July 9, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be the greater of par plus the index gain and par plus 41.5%.
Investors will receive a 1% gain for each 1% loss in the underlying index if the index declines but finishes at or above the 70% downside threshold and will lose 1% for every 1% decline if the index ends below its downside threshold.
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: | Dual directional trigger jump securities
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| Underlying index: | S&P 500 index
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| Amount: | $5 million
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| Maturity: | July 9, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index return is positive, the greater of par plus the index gain and par plus 41.5%; 1% gain for each 1% loss if index declines but ends at or above downside threshold; otherwise, full exposure to index decline from initial level
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| Initial level: | 3,831.39
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| Upside payment: | 41.5%
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| Downside threshold: | 2,681.973, 70% of initial level
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| Pricing date: | July 6
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| Settlement date: | July 11
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.25%
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| Cusip: | 61774DXS1
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