By Wendy Van Sickle
Columbus, Ohio, Jan. 7 – Morgan Stanley Finance LLC priced $3.01 million of 0% buffered Performance Leveraged Upside Securities due Jan. 2, 2025 linked to the SPDR S&P MidCap 400 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus 110% of the ETF return, capped at par plus 50%. Investors will receive par if the ETF declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
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: | Buffered Performance Leveraged Upside Securities
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| Underlying ETF: | SPDR S&P MidCap 400 ETF
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| Amount: | $3.01 million
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| Maturity: | Jan. 2, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If ETF return is positive, par plus 110% of ETF return, capped at par plus 50%; par if ETF declines by 10% or less; 1% loss for every 1% that it declines beyond 10%
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| Initial level: | $375.36
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| Buffer level: | $337.824, 90% of initial level
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| Pricing date: | Dec. 27
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| Settlement date: | Jan. 2
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 4.25%
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| Cusip: | 61769H6H3
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