By Kiku Steinfeld
Chicago, April 14 – Morgan Stanley Finance LLC priced $453,000 of 0% Trigger PLUS due June 17, 2025 linked to the iShares 20+ Year Treasury Bond ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus 160% of the ETF return subject to a maximum return of par plus 60%. Investors will receive par if the ETF return is negative but ends at or above the 90% trigger and will lose 1% for every 1% decline if it ends below the trigger level.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Trigger PLUS
|
| Underlying ETF: | iShares 20+ Year Treasury Bond ETF
|
| Amount: | $453,000
|
| Maturity: | June 17, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If fund return is positive, par plus 160% of fund return subject to a maximum return of par plus 60%; par if fund declines but finishes at or above trigger level; 1% loss for every 1% that fund declines if it finishes below trigger level
|
| Initial level: | $106.67
|
| Trigger level: | $96.003, 90% of initial level
|
| Upside leverage: | 160%
|
| Cap: | 60%
|
| Pricing date: | Dec. 12
|
| Settlement date: | Dec. 15
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0%
|
| Cusip: | 61774TBA9
|
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