New Issue: Morgan Stanley sells $5 million trigger step securities on Russell, S&P

By William Gullotti

Buffalo, N.Y., Dec. 14 – Morgan Stanley Finance LLC priced $5 million of 0% trigger step securities due Dec. 13, 2028 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley

If the laggard index finishes at or above the initial level, the payout at maturity will be par of $10 plus the greater of the laggard index’s return and 56.65%.

Investors will receive par if the laggard index falls by up to 25% and will be fully exposed to all losses if the laggard index finishes below the 75% downside threshold level.

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

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Trigger step securities
Underlying indexes:	S&P 500 index, Russell 2000 index
Amount:	$5 million
Maturity:	Dec. 13, 2028
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If the laggard index finishes at or above the initial level, par plus the greater of the laggard index’s return and 56.65%; par if the laggard index falls by up to 25%; full exposure to losses if the laggard index finishes below the 75% downside threshold level
Initial index levels:	4,604.37 for S&P, 1,880.817 for Russell
Threshold levels:	3,453.28 for S&P, 1,410.613 for Russell; 75% of initial levels
Strike date:	Dec. 8
Pricing date:	Dec. 11
Settlement date:	Dec. 14
Agents:	UBS Financial Services Inc. and Morgan Stanley & Co. LLC
Fees:	1%
Cusip:	61775K555

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.