New York, Jan. 9 – Morgan Stanley Finance LLC priced $1.4 million of 0% dual directional buffered PLUS due Jan. 7, 2026 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF gains, the payout at maturity will be par plus 200% of the ETF return, subject to a maximum return of par plus 15.55%.
The payout will be par plus the absolute value of the ETF return if the ETF declines by no more than 20%.
Otherwise, investors will lose 1% for every 1% that the ETF declines beyond 20%.
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 buffered PLUS
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| Underlying ETF: | SPDR S&P 500 ETF Trust
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| Amount: | $1.4 million
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| Maturity: | Jan. 7, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If ETF gains, par plus 200% of ETF return, subject to a maximum return of par plus 15.55%; par plus absolute value of ETF return if ETF declines by no more than 20%; otherwise, 1% loss for every 1% that ETF declines beyond 20%
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| Initial level: | $472.65
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| Upside leverage: | 200%
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| Cap: | 15.55%
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| Buffer: | 20%
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| Buffer level: | $378.12, 80% of initial level
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| Pricing date: | Jan. 2
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| Settlement date: | Jan. 5
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.7%
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| Cusip: | 61771WHC5
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