By Susanna Moon
Chicago, Feb. 23 – Morgan Stanley Finance LLC priced $1.24 million of 0% buffered jump securities due Feb. 14, 2023 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the index finishes at or above its initial level, the payout at maturity will be par plus the greater of the gain and the upside return of 27.3%.
If the index falls by up to 20%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline beyond 20%.
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 jump securities
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| Underlying index: | S&P 500
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| Amount: | $1.24 million
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| Maturity: | Feb. 14, 2023
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If index gains, par plus greater of return and 27.3%; if index falls by up to 20%, par; otherwise, 1% loss per 1% decline beyond 20%
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| Initial index level: | 2,619.55
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| Pricing date: | Feb. 9
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| Settlement date: | Feb. 14
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 61768CZZ3
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