By Sarah Lizee
Olympia, Wash., April 7 – Morgan Stanley Finance LLC priced $1 million of 0% participation securities due Sept. 2, 2025 linked to a performance-allocation basket consisting of the SPDR S&P 500 ETF Trust, the iShares MSCI EAFE ETF and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The basket component with the best performance will be allocated a weighting of 90%, the basket component with the second-best performance will be allocated a weighting of 10% and the basket component with the worst performance will be allocated a weighting of 0%.
The payout at maturity will be par plus any basket gain.
If the basket falls, investors will be fully exposed to the 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: | Participation securities
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| Underlying basket: | SPDR S&P 500 ETF Trust, the iShares MSCI EAFE ETF and the iShares MSCI Emerging Markets ETF; best performer will be given 90% weight, second best will be given 10% weight and least performer will be given 0% weight
|
| Amount: | $1 million
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| Maturity: | Sept. 2, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus any basket gain; if the basket falls, investors will be fully exposed to the decline
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| Initial levels: | $253.42 for S&P ETF, $52.86 for EAFE ETF, $33.35 for EM ETF
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| Pricing date: | March 27
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| Settlement date: | April 1
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 61770FYB6
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