New Issue: Morgan Stanley prices $2.77 million trigger PLUS linked to iShares MSCI Emerging Markets

By Toni Weeks

San Luis Obispo, Calif., Aug. 26 – Morgan Stanley priced $2.77 million of 0% trigger Performance Leveraged Upside Securities due Aug. 25, 2020 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF return is positive, the payout at maturity will be par of $10 plus 130% of the ETF return. Investors will receive par if the ETF falls by 15% or less and will be fully exposed to the ETF’s decline if it finishes below the 85% trigger level.

Morgan Stanley & Co. LLC is the agent with Morgan Stanley Wealth Management as dealer.

Issuer:	Morgan Stanley
Issue:	Trigger Performance Leveraged Upside Securities
Underlying ETF:	iShares MSCI Emerging Markets ETF
Amount:	$2,772,000
Maturity:	Aug. 25, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 130% of any ETF gain; par if fund falls by up to 15%; otherwise, full exposure to ETF’s decline
Initial share price:	$44.75
Trigger level:	$38.038, 85% of the initial price
Pricing date:	Aug. 22
Settlement date:	Aug. 27
Agent:	Morgan Stanley & Co. LLC with Morgan Stanley Wealth Management as dealer
Fees:	3.5%
Cusip:	61758S435

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