By Sarah Lizee
Olympia, Wash., June 11 – Morgan Stanley Finance LLC priced $8.11 million of 0% trigger Performance Leveraged Upside Securities due June 8, 2023 linked to gold, according to a 424B2 filing with the Securities and Exchange Commission.
If the final commodity price is greater than the initial commodity price, the payout will be par plus double the return of the commodity, capped at par plus 34.8%.
If the final commodity price is less than or equal to the initial commodity price but is greater than or equal to the trigger level, 80% of the initial price, the payout will be par.
If the final commodity price is less than the trigger level, investors will be fully exposed to the decline of the commodity.
The final commodity price will be arithmetic average of the commodity price on each of the five averaging dates, May 30, May 31, June 1, June 2 and June 5 of 2023.
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: | Gold
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| Amount: | $8.11 million
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| Maturity: | June 8, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final commodity price is greater than the initial commodity price, par plus double the return of the commodity, capped at par plus 34.8%; if the final commodity price is less than or equal to the initial commodity price but is greater than or equal to the trigger level, par; if the final commodity price is less than the trigger level, investors will be fully exposed to the decline of the commodity
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| Initial price: | $1,683.45
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| Trigger level: | $1,346.76; 80% of initial price
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| Final level: | Arithmetic average of the commodity price on each of the five averaging dates, May 30, May 31, June 1, June 2 and June 5 of 2023
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| Pricing date: | June 5
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| Settlement date: | June 10
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2%
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| Cusip: | 61766YFD8
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