By Marisa Wong
Morgantown, W.Va., Nov. 6 – Morgan Stanley Finance LLC updated the step return for its recently priced $3.22 million of 0% trigger absolute return step securities due Oct. 31, 2022 linked to the iShares MSCI EAFE exchange-traded fund, according to an amended 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the fund finishes at or above its initial level, the payout at maturity will be par plus the greater of the fund return and the step return of 22.4%. The step return was stated as 22.2% in a previous 424B2 filing.
If the fund falls but finishes at or above the 75% downside threshold level, the payout will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to any losses.
Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as dealer.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Trigger absolute return step securities
|
| Underlying fund: | iShares MSCI EAFE ETF
|
| Amount: | $3,215,750
|
| Maturity: | Oct. 31, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the fund finishes at or above its initial level, par plus the greater of the return and 22.4%; if the fund falls but finishes at or above the downside threshold level, par plus the absolute value of the return; otherwise, investors will be fully exposed to any losses
|
| Initial level: | $69.02
|
| Downside threshold: | $51.77, 75% of initial level
|
| Pricing date: | Oct. 26
|
| Settlement date: | Oct. 31
|
| Agent: | Morgan Stanley & Co. LLC
|
| Dealer: | UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 61768J607
|
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