New York, April 26 – Morgan Stanley Finance LLC priced $7.09 million of 0% dual directional buffered PLUS due April 22, 2027 linked to the S&P 500 Futures Excess Return index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gains, the payout will be par plus 145% of the index return.
The payout will be par plus the absolute value of the index return if the index declines by no more than 20%.
Otherwise, investors will lose 1% for every 1% that the index 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 index: | S&P 500 Futures Excess Return index
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| Amount: | $7,092,000
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| Maturity: | April 22, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index gains, par plus 145% of index return; par plus absolute value of index return if index declines by no more than 20%; otherwise, 1% loss for every 1% that index declines beyond 20%
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| Initial level: | 433.74
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| Upside leverage: | 145%
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| Buffer: | 20%
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| Buffer level: | 346.992, 80% of initial level
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| Pricing date: | April 19
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| Settlement date: | April 24
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 61776LVG9
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