By Angela McDaniels
Tacoma, Wash., April 2 – Morgan Stanley Finance LLC priced $424,000 of 0% trigger Performance Leveraged Upside Securities due April 1, 2024 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If each index finishes above its initial level, the payout at maturity will be par plus 400% of the lesser-performing index’s return, subject to a maximum return of 54%.
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 its trigger level, the payout will be par. For each index, the trigger level is 60% of its initial level.
If the final level of either index is less than its trigger level, investors will be fully exposed to the decline of the lesser-performing index from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Trigger Performance Leveraged Upside Securities
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $424,000
|
| Maturity: | April 1, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If each index finishes above initial level, par plus 400% of lesser-performing index’s return, subject to maximum return of 54%; 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 trigger level, par; if final level of either index is less than trigger level, full exposure to decline of lesser-performing index from initial level
|
| Initial levels: | 2,818.46 for S&P 500 and 1,528.166 for Russell 2000
|
| Trigger levels: | 1,691.076 for S&P 500 and 916.900 for Russell 2000, or 60% of initial levels
|
| Pricing date: | March 26
|
| Settlement date: | March 29
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 4.125%
|
| Cusip: | 61768DU86
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