By Wendy Van Sickle
Columbus, Ohio, March 28 – Morgan Stanley Finance LLC priced $7.95 million of 0% buffered Performance Leveraged Upside Securities due March 29, 2021 linked to a basket containing two exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket components are the iShares MSCI EAFE ETF with a 70% weight and the iShares MSCI Emerging Markets ETF with a 30% weight.
The notes are guaranteed by Morgan Stanley.
If the final basket level is greater than the initial level, the payout at maturity will be par of $10 plus 125.5% of the basket return.
If the basket finishes flat or falls by no more than 20%, the payout will be par.
If the basket falls by more than 20%, investors will lose 1.25% for every 1% decline beyond the 20% buffer.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Buffered Performance Leveraged Upside Securities
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| Basket components | iShares MSCI EAFE ETF (70% weight) and iShares MSCI Emerging Markets ETF (30% weight)
|
| Amount: | $7,948,000
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| Maturity: | March 29, 2021
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 125.5% of any basket gain; if basket finishes flat or falls by no more than 20%, par; if basket falls by more than 20%, 1.25% loss for every 1% decline beyond 20% buffer
|
| Initial levels: | $62.14 for iShares MSCI EAFE and $39.81 for iShares MSCI Emerging Markets
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| Pricing date: | March 24
|
| Settlement date: | March 29
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.5%
|
| Cusip: | 61768CFZ5
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