By Susanna Moon
Chicago, Aug. 1 – Morgan Stanley priced $1.6 million of 0% trigger step securities due July 31, 2020 linked to the Stoxx Europe 600 Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the initial level, the payout at maturity will be par of $10 plus the greater of the gain and the step return of 60.5%.
Investors will receive par if the index falls by up to 30% and will be fully exposed to any losses if the index finishes below the 70% trigger level.
Morgan Stanley & Co. LLC is the agent. UBS Financial Services Inc. is the dealer.
| Issuer: | Morgan Stanley
|
| Issue: | Trigger step securities
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| Underlying index: | Stoxx Europe 600 Banks
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| Amount: | $1,598,350
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| Maturity: | July 31, 2020
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If index gains, par plus greater of 60.5% and return; par if index falls by 30% or less; full exposure to losses if index finishes below trigger level
|
| Initial level: | 133.93
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| Trigger level: | 93.75, 70% of initial level
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| Pricing date: | July 27
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| Settlement date: | July 29
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| Agent: | Morgan Stanley & Co. LLC
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| Dealer: | UBS Financial Services Inc.
|
| Fees: | 5%
|
| Cusip: | 61766B796
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