By Sarah Lizee
Olympia, Wash., March 29 – Morgan Stanley Finance LLC priced $17.14 million of 0% trigger gears due March 28, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.257 times any index gain.
If the index falls by up to 40%, the payout will be par.
If the index finishes below the 60% downside threshold, investors will lose 1% for every 1% decline.
The notes are guaranteed by Morgan Stanley.
UBS Financial Services Inc. and Morgan Stanley & Co. LLC are the agents.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Trigger gears
|
| Underlying index: | S&P 500
|
| Amount: | $17,143,800
|
| Maturity: | March 28, 2024
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 1.257 times any index gain; par if index falls by up to 40%; otherwise, full exposure to losses
|
| Initial index level: | 2,818.46
|
| Downside threshold: | 1,691.08, 60% of initial level
|
| Pricing date: | March 26
|
| Settlement date: | March 29
|
| Agents: | Morgan Stanley & Co. LLC and UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 61768X440
|
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