By Wendy Van Sickle
Columbus, Ohio, Oct. 21 – Morgan Stanley Finance LLC priced $20 million 0% enhanced trigger jump securities due Oct. 28, 2022 linked to Brent crude oil futures contracts, according to a 424B2 filing with the Securities and Exchange Commission.
If the final commodity level is at least 70% of the initial level, the payout at maturity will be par plus 14%.
If the final commodity level is less than the 70% trigger level, investors will be fully exposed to the commodity’s decline from its initial level.
The notes are guaranteed by Morgan Stanley
Morgan Stanley & Co. LLC is the agent with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Enhanced trigger jump securities
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| Underlying commodity: | Brent crude oil
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| Amount: | $20 million
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| Maturity: | Oct. 28, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final commodity level is at least 70% of initial level, par plus 14%; otherwise, 1% loss per 1% decline
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| Initial oil price: | $83.35
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| Trigger level: | $58.345, 70% of initial price
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| Pricing date: | Oct. 18
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| Settlement date: | Oct. 21
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| Agent: | Morgan Stanley & Co. LLC
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| Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 0.4%
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| Cusip: | 61773FEK5
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