Published on 10/20/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $9.85 million trigger gears on index basket
By Wendy Van Sickle
Columbus, Ohio, Oct. 20 – Morgan Stanley Finance LLC priced $9.85 million of 0% trigger gears due Oct. 20, 2031 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The basket consists of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 17.5% weight, the Nikkei 225 index with a 25% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index with a 7.5% weight.
The payout at maturity will be par of $10 plus 2.67 times any basket gain.
Investors will receive par if the basket declines by 30% or less and be fully exposed to the basket’s decline from its initial level if it declines by more than 30%.
Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as placement agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Trigger gears
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| Underlying basket: | Euro Stoxx 50 index (40% weight), FTSE 100 index (17.5% weight), Nikkei 225 index (25% weight), Swiss Market index (10% weight), S&P/ASX 200 index (7.5% weight)
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| Amount: | $9,845,880
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| Maturity: | Oct. 20, 2031
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 2.67 times any basket gain; par if basket declines by 30% or less; full exposure to the basket’s decline from its initial level if it declines by more than 30%
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| Initial levels: | 4,151.4 for Stoxx, 7,203.83 for FTSE, 29,025.46 for Nikkei, 11,968.08 for Swiss, 7,381.068 for S&P/ASX
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| Downside threshold: | 70% of initial level
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| Pricing date: | Oct. 18
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| Settlement date: | Oct. 20
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| Agent: | Morgan Stanley & Co. LLC
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| Dealer: | UBS Financial Services Inc.
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| Fees: | 5%
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| Cusip: | 61773E866
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