By Wendy Van Sickle
Columbus, Ohio, May 14 – Morgan Stanley Finance LLC priced $10 million of 0% trigger Performance Leveraged Upside Securities due May 12, 2031 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the index finishes above its initial level, the payout at maturity will be par of $10 plus 1.24 times the index return.
If the index finishes at or below its initial level but at or above its 50% trigger level, the payout will be par.
If the index finishes below its trigger level, investors will be fully exposed to the index’s decline from its initial level.
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 index: | S&P 500
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| Amount: | $10 million
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| Maturity: | May 12, 2031
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 1.24 times any index gain; par if index finishes flat or falls by up to 50%; otherwise, full exposure to losses
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| Initial index level: | 4,232.6
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| Trigger level: | 2,116.3, 50% of initial level
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| Pricing date: | May 10
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| Settlement date: | May 13
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1%
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| Cusip: | 61771VN63
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