New York, May 19 – Morgan Stanley Finance LLC priced $3.39 million of 0% Trigger PLUS due May 18, 2027 linked to the Consumer Staples Select Sector SPDR Fund and the Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the worst performing ETF is positive, the payout at maturity will be par plus 393.50% of the return of that ETF.
Investors will receive par if the return of the worst performing ETF is negative but ends at or above the 70% trigger and will lose 1% for every 1% decline if it ends below the trigger 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 PLUS
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| Underlying index: | Consumer Staples Select Sector SPDR Fund and Energy Select Sector SPDR Fund
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| Amount: | $3,388,000
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| Maturity: | May 18, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If return of worst performing fund is positive, par plus 393.50% of the gain of that fund; par if worst performing fund declines but finishes at or above trigger level; 1% loss for every 1% decline if worst performing fund finishes below trigger level
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| Initial level: | $80.78 for Energy Select Sector SPDR Fund, $76.95 for Consumer Staples Select Sector SPDR Fund
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| Trigger level: | $56.546 for Energy Select Sector SPDR Fund, $53.865 for Consumer Staples Select Sector SPDR Fund, 70% of initial level
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| Upside leverage: | 393.50%
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| Cap: | None
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| Pricing date: | May 13
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| Settlement date: | May 18
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61774DAD9
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