By Susanna Moon
Chicago, Nov. 8 – Morgan Stanley Finance LLC priced $5.17 million of 0% trigger absolute return step securities due Oct. 31, 2023 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par plus the greater of the gain and the step return of 60%.
If the index falls but finishes at or above the 70% downside threshold, the payout will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to any losses.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC and UBS Financial Services Inc. are the agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Trigger absolute return step securities
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| Underlying index: | Euro Stoxx 50
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| Amount: | $5,168,480
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| Maturity: | Oct. 31, 2023
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If each index gains, par plus greater of 60% and index return; if index falls by up to 30%, par plus absolute return; otherwise, 1% loss per 1% decline
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| Initial index level: | 3,154.93
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| Downside threshold: | 2,208.45, 70% of initial level
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| Pricing date: | Oct. 29
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| Settlement date: | Oct. 31
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| Agents: | UBS Financial Services Inc. and Morgan Stanley & Co. LLC
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| Fees: | 3.5%
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| Cusip: | 61768T456
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