New Issue: Morgan Stanley sells $6.50 million trigger gears on Euro Stoxx, S&P 500

By Marisa Wong

Morgantown, W.Va., March 15 – Morgan Stanley Finance LLC priced $6,502,000 of 0% trigger gears due March 16, 2023 linked to the lesser performing of the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If the return of each underlying index is positive, the payout at maturity will be par of $10 plus 3.15 times the gain of the lesser performing index.

Investors will receive par if the lesser performing index declines by 40% or less and be fully exposed to the lesser performing index’s decline from its initial level if it declines by more than 40%.

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 indexes:	Euro Stoxx 50, S&P 500
Amount:	$6,502,000
Maturity:	March 16, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If the return of each index is positive, par plus 3.15 times the gain in the lesser performing index; par if the lesser performing index declines by 40% or less; full exposure to the lesser performing index’s decline from its initial level if it declines by more than 40%
Initial level:	3,397.35 for Euro Stoxx, 2,765.31 for S&P
Downside threshold:	2,038.41 for Euro Stoxx, 1,659.19 for S&P; 60% of initial level
Pricing date:	March 13
Settlement date:	March 16
Agent:	Morgan Stanley & Co. LLC
Dealer:	UBS Financial Services Inc.
Fees:	3.5%
Cusip:	61768P348

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