By Wendy Van Sickle
Columbus, Ohio, Feb. 21 – Morgan Stanley Finance LLC priced $5 million of 0% trigger Performance Leveraged Upside Securities due Feb. 21, 2023 linked to the Bloomberg Commodity index, according to a 424B2 with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout at maturity will be par plus 1.55 times the return.
If the index falls by up to its 75% trigger level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
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 index: | Bloomberg Commodity
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| Amount: | $5 million
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| Maturity: | Feb. 21, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 155% of any index gain; if index falls by up to trigger, par; otherwise, 1% loss per 1% decline
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| Initial level: | 88.2377
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| Trigger level: | 66.178275, 75% of initial level
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| Pricing date: | Feb. 15
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| Settlement date: | Feb. 21
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.34%
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| Cusip: | 61766YCH2
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