By Sarah Lizee
Olympia, Wash., Jan. 11 – Morgan Stanley Finance LLC priced $3.08 million of 0% trigger gears due Jan. 11, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par of $10 plus the 1.465 times the gain.
If the index falls by up to the 60% downside threshold, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC and UBS Financial Services Inc. are the agents.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Trigger gears
|
| Underlying asset: | S&P 500 index
|
| Amount: | $3,081,000
|
| Maturity: | Jan. 11, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index gains, par plus 1.465 times the return; if index falls by up to 40%, par; otherwise, 1% loss per 1% decline
|
| Initial level: | 2,574.41
|
| Downside threshold: | 1,544.65, 60% of initial level
|
| Pricing date: | Jan. 9
|
| Settlement date: | Jan. 14
|
| Agents: | Morgan Stanley & Co. LLC and UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 61768W673
|
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