By William Gullotti
Buffalo, N.Y., April 23 – Morgan Stanley Finance LLC priced $1.13 million of 0% buffered participation securities due May 15, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The payout at maturity will be par plus any index gain, subject to a maximum payout of par plus 10%.
Investors will receive par if the index declines by up to 10% and will lose 1% for every 1% index decline beyond 10%.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Buffered participation securities
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Underlying index: | S&P 500 index
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Amount: | $1,125,000
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Maturity: | May 15, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain, capped at par plus 10%; par if index falls by up to buffer; 1% loss for every 1% index decline below buffer
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Initial index level: | 5,199.06
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Buffer level: | 4,679.154; 90% of initial level
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Pricing date: | April 11
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Settlement date: | April 16
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.25%
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Cusip: | 61776LEC7
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