New York, July 31 – Morgan Stanley priced $8.37 million of 0% trigger performance securities due July 31, 2025 linked to the Bloomberg Commodity Index 3 Month Forward, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 221% of any index gain.
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 with UBS Financial Services Inc. as dealer.
The estimated initial value is $9.078 per $10 principal amount.
| Issuer: | Morgan Stanley
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| Issue: | Trigger performance securities
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| Underlying index: | Bloomberg Commodity Index 3 Month Forward
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| Amount: | $8,374,160
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| Maturity: | July 31, 2025
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If index return is positive, par plus 221% of index return; par if index falls by up to 30%; full exposure to losses from initial level if index falls by more than 30%
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| Initial level: | 207.6315
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| Trigger level: | 145.3421, 70% of initial level
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| Pricing date: | July 28
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| Settlement date: | July 31
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| Agent: | Morgan Stanley & Co. LLC
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| Dealer: | UBS Financial Services Inc.
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| Fees: | 5%
|
| Cusip: | 61765G622
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