By Kiku Steinfeld
Chicago, Oct. 16 – Morgan Stanley Finance LLC priced $391,000 of 0% dual directional buffered participation securities due March 29, 2029 linked to the Dow Jones industrial average index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 104% of the index return.
Investors will receive par plus 100% of absolute return of the index if it declines but by no more than the 20% buffer and will be exposed to any decline in the index beyond the buffer.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional buffered participation securities
|
| Underlying index: | Dow Jones industrial average index
|
| Amount: | $391,000
|
| Maturity: | March 29, 2029
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If return of index is positive, par plus 104% of index return; par plus 100% of absolute return of index if it declines but by no more than 20%; exposure to loss of index beyond buffer
|
| Initial level: | 32,237.53
|
| Upside leverage: | 104%
|
| Cap: | None
|
| Absolute return: | 100%
|
| Buffer: | 20%
|
| Pricing date: | March 24, 2023
|
| Settlement date: | March 29, 2023
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 4.25%
|
| Cusip: | 61774XBQ5
|
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