By Taylor Fox
New York, Feb. 22 – Morgan Stanley Finance LLC priced $1 million of trigger PLUS notes due Feb. 14, 2022 linked to the worst performing of the common stock of Align Technology, Inc., the American Depositary Shares of Pinduoduo Inc. and the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The payout at maturity will be par plus 255% of the return of the worst performing stock.
If the worst performing stock declines, but not lower than its 55% trigger value, investors will receive par.
Otherwise, investors will be fully exposed to the decline of the lesser performing stock.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Issue: | Trigger PLUS notes
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| Underliers: | Align Technology, Inc., Pinduoduo Inc. and Tesla, Inc.,
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| Amount: | $1 million
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| Maturity: | Feb. 14, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 255% of the return of worst performing stock if all stocks finish above their initial levels; par if worst performer declines up to 55% trigger level; otherwise, full exposure to losses of worst performer
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| Initial level: | $602.44 for Align, $188.26 for Pinduoduo and $863.42 for Tesla
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| Trigger level: | $331.342 for Align, $103.543 for Pinduoduo and $474.881 for Tesla, 55% of initial levels
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| Pricing date: | Feb. 9
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| Settlement date: | Feb. 12
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 61771E5G9
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