By William Gullotti
Buffalo, N.Y., Aug. 28 – Morgan Stanley Finance LLC priced $3.6 million of 0% Performance Leveraged Upside Securities due Aug. 21, 2026 linked to an equally-weighted basket consisting of the Nasdaq-100 index and the Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the basket return is flat or positive, the payout at maturity will be par plus 118% of the basket return.
Investors will be fully exposed to any basket decline.
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: | Performance Leveraged Upside Securities
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| Underlying basket: | Nasdaq-100 index, Utilities Select Sector SPDR Fund; equal weights
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| Amount: | $3.6 million
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| Maturity: | Aug. 21, 2026
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If basket finishes flat or positive, par plus 118% of basket return; otherwise, 1% loss for every 1% decline from initial level
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| Initial levels: | 14,694.84 for Nasdaq, $63.49 for SPDR
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| Pricing date: | Aug. 18
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| Settlement date: | Aug. 23
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.5%
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| Cusip: | 61775HRE9
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