By Wendy Van Sickle
Columbus, Ohio, May 5 – Morgan Stanley Finance LLC priced $12.5 million of 0% digital notes due May 30, 2024 linked to the S&P Banks Select Industry index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the index return is greater than or equal to 75% of the initial level, the payout at maturity will be par plus 11.55%.
Otherwise, investors will lose 1.3333% for every 1% that the index declines beyond 25%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Digital notes
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| Underlying index: | S&P Banks Select Industry index
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| Amount: | $12.5 million
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| Maturity: | May 30, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the index return is greater than or equal to 75% of the initial level, par plus 11.55%; otherwise, investors will lose 1.3333% for every 1% that the index declines beyond 25%
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| Initial index level: | 810.2
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| Threshold level: | 607.65; 75% of initial level
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| Pricing date: | April 28
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| Settlement date: | May 3
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.93%
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| Cusip: | 61774XWA7
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