New York, June 12 – Morgan Stanley Finance LLC priced $10.48 million of 0% trigger jump securities due May 29, 2026 linked to the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the fund is zero or positive, the payout at maturity will be par plus the greater of the fund return and 32.6%.
Investors will receive par if the fund declines but finishes at or above the 80% trigger level and will lose 1% for every 1% that the fund declines if it finishes below the trigger level.
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: | Trigger jump securities
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| Underlying ETF: | SPDR S&P Regional Banking ETF
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| Amount: | $10.48 million
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| Maturity: | May 29, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If fund return is zero or positive, par plus greater of fund return and 32.6%; par if fund declines but finishes at or above trigger level; otherwise, 1% loss for every 1% that fund declines from initial level
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| Initial level: | $40.29
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| Upside payment: | 32.6%
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| Trigger: | $32.232, 80% of initial level
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| Pricing date: | May 26
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| Settlement date: | June 1
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3% including a structuring fee of 0.5%
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| Cusip: | 61774XW58
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