By Marisa Wong
Morgantown, W.Va., Nov. 1 – Morgan Stanley Finance LLC priced $1.51 million of 0% trigger gears due Oct. 31, 2022 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
If the ETF return is greater than zero, the payout at maturity will be par of $10 plus 1.235 times the ETF return.
Investors will receive par if the ETF declines by 20% or less and be fully exposed to the ETF’s decline from its initial level if it declines by more than 20%.
Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as dealer.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Trigger gears
|
| Underlying ETF: | iShares MSCI Emerging Markets ETF
|
| Amount: | $1,505,600
|
| Maturity: | Oct. 31, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the ETF return is greater than zero, par plus 1.235 times the ETF return; par if the ETF declines by 20% or less; full exposure to the ETF’s decline from its initial level if it declines by more than 20%
|
| Initial price: | $45.48
|
| Downside threshold: | $36.38, 80% of initial price
|
| Pricing date: | Oct. 26
|
| Settlement date: | Oct. 31
|
| Agent: | Morgan Stanley & Co. LLC
|
| Dealer: | UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 61768J573
|
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