Morgan Stanley will price trigger gears on MSCI Emerging Markets fund

By Devika Patel

Knoxville, Tenn., May 15 – Morgan Stanley Finance LLC plans to price 0% trigger gears due May 20, 2021 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

The notes will be guaranteed by Morgan Stanley.

If the fund return is greater than zero, the payout at maturity will be par of $10 plus 1.13 to 1.163 times the fund return. The exact upside gearing will be set at pricing. Investors will receive par if the fund declines by 25% or less and will receive will lose 1% for every 1% decline of the fund from its initial level if it falls by more than 25%.

Morgan Stanley & Co. LLC and UBS Financial Services Inc. are the agents.

The notes (Cusip: 61768Q254) will price on May 16 and settle on May 21.

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