By Wendy Van Sickle
Columbus, Ohio, April 27 – Morgan Stanley Finance LLC priced $2.36 million of 0% trigger absolute return step securities due April 29, 2022 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
If the fund finishes at or above its initial level, the payout at maturity will be par plus the greater of the fund return and the step return of 30%.
If the fund falls but finishes at or above the 75% downside threshold level, the payout will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to any losses.
Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as dealer.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Trigger absolute return step securities
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| Underlying fund: iShares MSCI EAFE exchange-traded fund
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| Amount: | $2,363,060
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| Maturity: | April 29, 2022
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If the fund finishes at or above its initial level, par plus the greater of the return and 30%; if the fund falls but finishes at or above the 75% downside threshold level, par plus the absolute value of the return; otherwise, investors will be fully exposed to any losses
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| Initial level: | $69.33
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| Downside threshold: | $47.99, 75% of initial level
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| Pricing date: | April 25
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| Settlement date: | April 28
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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%
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| Cusip: | 61766W154
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