By Marisa Wong
Morgantown, W.Va., June 3 – Morgan Stanley Finance LLC priced $1.62 million of 0% trigger gears due May 28, 2021 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the fund return is greater than zero, the payout at maturity will be par of $10 plus 1.5 times the fund return. Investors will receive par if the fund declines by 25% or less and be fully exposed to the fund’s decline from its initial level if it declines by more than 25%.
Morgan Stanley & Co. LLC is the agent. UBS Financial Services Inc. is acting as dealer.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Trigger gears
|
| Underlying fund: | iShares MSCI Emerging Markets ETF
|
| Amount: | $1,620,700
|
| Maturity: | May 28, 2021
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If fund return is greater than zero, par plus 1.5 times fund return; par if fund declines by 25% or less; full exposure to fund’s decline from initial level if fund declines by more than 25%
|
| Initial price: | $32.88
|
| Downside threshold: | $24.66, 75% of initial level
|
| Pricing date: | May 25
|
| Settlement date: | May 31
|
| Agent: | Morgan Stanley & Co. LLC
|
| Dealer: | UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 61766B358
|
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