By Kiku Steinfeld
Chicago, Oct. 3 – Morgan Stanley Finance LLC priced $1.14 million of 0% Trigger PLUS due March 5, 2025 linked to the Financial Select Sector SPDR Fund, 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 200% of the ETF return subject to a maximum return of par plus 40%. 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: | Financial Select Sector SPDR Fund
|
| Amount: | $1,138,000
|
| Maturity: | March 5, 2025
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If fund return is positive, par plus 200% of fund return subject to a maximum return of par plus 40%; 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: | $40.11
|
| Trigger level: | $36.099, 90% of initial level
|
| Upside leverage: | 200%
|
| Cap: | 40%
|
| Pricing date: | Feb. 11
|
| Settlement date: | Feb. 16
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3%
|
| Cusip: | 61773U274
|
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