Published on 3/17/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $8.48 million trigger gears on five index basket
By William Gullotti
Buffalo, N.Y., March 17 – Morgan Stanley Finance LLC priced $8.48 million of 0% trigger gears due March 17, 2027 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The basket includes the Euro Stoxx 50 index with a 40% weight, the Nikkei 225 index with a 25% weight, the FTSE 100 index with a 17.5% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index with a 7.5% weight.
The payout at maturity will be par of $10 plus 2.015 times any basket gain.
Investors will receive par if the basket declines by 25% or less and be fully exposed to the basket’s decline from its initial level if it declines by more than 25%.
Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as placement agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Trigger gears
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| Underlying basket: | Euro Stoxx 50 (40% weight), Nikkei 225 index (25% weight), FTSE 100 (17.5% weight), Swiss Market (10% weight) and S&P/ASX 200 (7.5% weight)
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| Amount: | $8,475,350
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| Maturity: | March 17, 2027
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 2.015 times any basket gain; par if basket declines by 25% or less; full exposure to the basket’s decline from its initial level if it declines by more than 25%
|
| Initial levels: | 3,741.1 for Stoxx, 25,307.85 for Nikkei, 7,193.47 for FTSE, 11,678.94 for Swiss, 7,149.403 for S&P/ASX
|
| Downside threshold: | 75% of initial level
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| Pricing date: | March 14
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| Settlement date: | March 16
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| Agent: | Morgan Stanley & Co. LLC
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| Dealer: | UBS Financial Services Inc.
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| Fees: | 3.5%
|
| Cusip: | 61773U837
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