By Marisa Wong
Morgantown, W.Va., May 16 – Morgan Stanley Finance LLC priced $2.87 million of 0% trigger gears due April 30, 2024 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the ETF return is greater than zero, the payout at maturity will be par of $10 plus 1.157 times the ETF return.
Investors will receive par if the ETF declines by 35% or less and be fully exposed to the ETF’s decline from its initial level if it declines by more than 35%.
Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as dealer.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Trigger gears
|
| Underlying ETF: | iShares MSCI Emerging Markets ETF
|
| Amount: | $2,868,660
|
| Maturity: | April 30, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the ETF return is greater than zero, par plus 1.157 times the ETF return; par if the ETF declines by 35% or less; full exposure to the ETF’s decline from its initial level if it declines by more than 35%
|
| Initial price: | $43.71
|
| Downside threshold: | $28.41, 65% of initial price
|
| Pricing date: | April 25
|
| Settlement date: | April 30
|
| Agent: | Morgan Stanley & Co. LLC
|
| Dealer: | UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 61768X812
|
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