By Wendy Van Sickle
Columbus, Ohio, June 11 – Morgan Stanley Finance LLC priced $5 million of 0% return enhanced notes due June 2, 2025 linked to the common stock of United Airlines Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock return is positive, the payout at maturity will be par plus 5 times the stock return, subject to a maximum return of 35%. If the stock return is negative, investors will be exposed to the stock’s decline.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are placement agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Return enhanced notes
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| Underlying shares: | United Airlines Holdings, Inc.
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| Amount: | $5 million
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| Maturity: | June 2, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 5 times any stock gain, up to 35% maximum return; exposure to any stock decline
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| Initial level: | $28.89
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| Pricing date: | June 1
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| Settlement date: | June 4
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| Agent: | Morgan Stanley & Co. LLC
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| Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 0.65%
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| Cusip: | 61771BL8B
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