By Sarah Lizee
Olympia, Wash., April 24 – Morgan Stanley Finance LLC priced $500,000 of 0% trigger Performance Leveraged Upside Securities due April 13, 2023 linked to the common stocks of Mastercard Inc. and Visa Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If each stock finishes above its initial level, the payout at maturity will be par plus 300% of the least-performing stock’s return, capped at $1,750 per $1,000 of notes.
If the final level of either stock is less than or equal to its initial level but the final level of each stock is greater than or equal to its trigger level, the payout will be par. For each stock, the trigger level is 85% of its initial level.
If the final level of either stock is less than its trigger level, investors will be exposed to the decline of the least-performing stock from its initial level.
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: | Trigger Performance Leveraged Upside Securities
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| Underlying stocks: | Mastercard Inc. and Visa Inc.
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| Amount: | $500,000
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| Maturity: | April 13, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each stock finishes above initial level, par plus 300% of least-performing stock’s return capped at $1,750 per $1,000 of notes; if final level of either stock is less than or equal to initial level but final level of each stock is greater than or equal to trigger level, par; if final level of either stock is less than trigger level, exposure to decline of least-performing stock from initial level
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| Initial levels: | $257.28157 for Mastercard and $166.82564 for Visa
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| Trigger levels: | $218.689 for Mastercard and $141.802 for Visa, or 85% of initial levels
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| Pricing date: | April 17
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| Settlement date: | April 22
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.3%
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| Cusip: | 61770FQ82
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