Morgan Stanley to price three-year trigger gears linked to S&P 500 index

By Sarah Lizee

Olympia, Wash., Sept. 20 – Morgan Stanley Finance LLC plans to price 0% trigger gears due Sept. 30, 2022 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If the index return is greater than zero, the payout at maturity will be par of $10 plus 1.3 to 1.32 times the index return. Investors will receive par if the index declines by 25% or less and will lose 1% for each 1% decline from the initial level if the index declines by more than 25%.

The notes are guaranteed by Morgan Stanley.

UBS Financial Services Inc. and Morgan Stanley & Co. LLC are the agents.

The notes will price on Sept. 25.

The Cusip number is 61770C178.

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