By William Gullotti
Buffalo, N.Y., Jan. 31 – Morgan Stanley Finance LLC priced $2.5 million of 0% trigger Performance Leveraged Upside Securities due Feb. 29, 2024 linked to the performance of Brent Crude Oil Futures Contracts, according to a 424B2 filing with the Securities and Exchange Commission.
If the commodity finishes at or above its initial level, the payout at maturity will be par plus 157.25% of the commodity’s return.
If the commodity declines but finishes at or above its 80% trigger level, the payout will be par. Otherwise, investors will be exposed to the decline of the commodity from its initial level.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA will act as placement agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Trigger Performance Leveraged Upside Securities
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| Underlying commodity: | Brent Crude Oil Futures Contracts
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| Amount: | $2.5 million
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| Maturity: | Feb. 29, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the commodity finishes at or above initial level, par plus 157.25% of the commodity’s return; if the commodity declines but finishes at or above trigger level, par; otherwise, exposure to decline of commodity from initial level
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| Initial level: | $86.55
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| Trigger level: | $69.24; 80% of initial level
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
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| Agent: | Morgan Stanley & Co. LLC with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents
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| Fees: | 1%
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| Cusip: | 61774FBC5
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