By Sarah Lizee
Olympia, Wash., March 26 – Morgan Stanley Finance LLC priced $1 million of 0% trigger Performance Leveraged Upside Securities due Sept. 21, 2021 linked to the common stocks of International Paper Co., United Parcel Service, Inc. and Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
If each stock finishes above its initial level, the payout at maturity will be par plus 310% of the least-performing stock’s return.
If the final level of either stock is less than or equal to its initial level but the final level of each stock is greater than or equal to its trigger level, the payout will be par. For each stock, the trigger level is 65% of its initial level.
If the final level of either stock is less than its trigger level, investors will be exposed to the decline of the least-performing stock from its initial 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 Performance Leveraged Upside Securities
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| Underlying stockes: | International Paper Co., United Parcel Service, Inc. and Wells Fargo & Co.
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| Amount: | $1 million
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| Maturity: | Sept. 21, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each stock finishes above initial level, par plus 310% of least-performing stock’s return; if final level of either stock is less than or equal to initial level but final level of each stock is greater than or equal to trigger level, par; if final level of either stock is less than trigger level, exposure to decline of least-performing stock from initial level
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| Initial levels: | $30.45 for International Paper, $89.25 for UPS, $28.43 for Wells Fargo
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| Trigger levels: | $19.793 for International Paper, $58.013 for UPS, $18.48 for Wells Fargo, or 65% of initial levels
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| Pricing date: | March 17
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| Settlement date: | March 20
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3%
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| Cusip: | 61770FUX2
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