By Kiku Steinfeld
Chicago, Nov. 23 – Morgan Stanley Finance LLC priced $1.89 million of 0% leveraged buffered index-linked notes due May 10, 2023 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 return is positive, the payout at maturity will be par plus 1.2 times the index gain, subject to a maximum return of $1,175.20 per $1,000 principal amount of notes.
Investors will receive par if the index falls by up to 10% and will share in losses at a rate of 1.1111% per 1% drop beyond the 10% buffer.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Leveraged buffered index-linked notes
|
| Underlying index: | S&P 500
|
| Amount: | $1,894,000
|
| Maturity: | May 10, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index return is positive, par plus 1.2 times the index gain, capped at par plus 17.52%; par if index falls by up to 10%; 1.1111% loss for every 1% decline beyond 10% buffer
|
| Initial level: | 4,697.53
|
| Buffer level: | 4,227.777; 90% of initial level
|
| Pricing date: | Nov. 5
|
| Settlement date: | Nov. 15
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0%
|
| Cusip: | 61773HEB1
|
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