By Kiku Steinfeld
Chicago, April 12 – Morgan Stanley Finance LLC priced $250,000 of 0% trigger participation securities due Sept. 29, 2022 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the final fund level is greater than the initial fund level, the payout at maturity will be par plus the fund return, capped at 33%.
If the final fund level is less than or equal to the initial fund level but is greater than or equal to the trigger level, 70% of the initial fund level, the payout will be par.
If the final fund level is less than the trigger level, investors will lose 1% for every 1% that the fund declines from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Trigger participation securities
|
| Underlying fund: | Energy Select Sector SPDR fund
|
| Amount: | $250,000
|
| Maturity: | Sept. 29, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final fund level is greater than initial fund level, par plus fund return, capped at 33%; if final fund level is less than or equal to initial fund level but is greater than or equal to trigger level, par; if final fund level is less than trigger level, 1% loss for every 1% that fund declines from initial level
|
| Initial fund level: | $49.03
|
| Trigger level: | $34.321, 70% of initial level
|
| Pricing date: | March 24
|
| Settlement date: | March 29
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.85%
|
| Cusip: | 61771VMA5
|
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