By Wendy Van Sickle
Columbus, Ohio, Jan. 7 – Morgan Stanley Finance LLC priced $20 million of 0% dual directional trigger jump securities due Jan. 3, 2024 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 index return and 42.5%.
If the index falls but finishes at or above the trigger level, 80% of the initial index level, the payout will be par plus the absolute value of the index return.
If the index finishes below the trigger level, investors will lose 1% for every 1% that the index declines from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional trigger jump securities
|
| Underlying index: | S&P 500
|
| Amount: | $19,999,900
|
| Maturity: | Jan. 3, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index finishes at or above initial level, par plus greater of index return and 42.5%; if index falls but finishes at or above trigger level, par plus absolute value of index return; if index finishes below trigger level, 1% loss for every 1% that index declines from initial level
|
| Initial index level: | 2,485.74
|
| Trigger level: | 1,988.592, 80% of initial level
|
| Pricing date: | Dec. 28
|
| Settlement date: | Jan. 3
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 61768W111
|
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