New York, Dec. 7 – Morgan Stanley Finance LLC priced $7.78 million of 0% dual directional trigger PLUS due Dec. 3, 2025 linked to the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus 150% of the ETF return, subject to a maximum return of par plus 57%.
Investors will receive a 1% gain for each 1% loss if the fund declines but finishes at or above the 80% principal barrier and will lose 1% for every 1% decline if the fund ends below its principal barrier.
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: | Dual directional trigger PLUS
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| Underlying fund: | iShares MSCI Emerging Markets ETF
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| Amount: | $7,784,570
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| Maturity: | Dec. 3, 2025
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If ETF return is positive, par plus 150% of ETF return, subject to a maximum return of par plus 57%; 1% gain for each 1% loss if ETF declines but ends at or above principal barrier; otherwise, full exposure to ETF decline from initial level
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| Initial level: | $39.52
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| Principal barrier: | $31.616, 80% of initial level
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| Upside leverage: | 150%
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| Cap: | 57%
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| Pricing date: | Nov. 30
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| Settlement date: | Dec. 5
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3% including a structuring fee of 0.5%
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| Cusip: | 61774Q314
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