By Taylor Fox
New York, Feb. 18 – Morgan Stanley Finance LLC priced $4.74 million of 0% autocallable trigger gears due Jan. 31, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will be automatically called at par of $10 plus 7.7% if the index closes at or above the autocall barrier, 100% of the initial index level, on Jan. 27, 2022.
If the notes are not called and the index return is greater than zero, the payout at maturity will be par plus 1.25 times the index return. Investors will receive par if the index declines by 25% or less and have one-to-one exposure to the index’s decline from its initial level if it declines by more than 25%.
Morgan Stanley & Co. LLC is the agent, and UBS Financial Services Inc. is acting as dealer.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Autocallable trigger gears
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| Underlying index: | S&P 500
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| Amount: | $4,740,500
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| Maturity: | Jan. 31, 2023
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index return is greater than zero, par plus 1.25 times index return; par if index declines by 25% or less; full exposure to index’s decline from initial level if index declines by more than 25%
|
| Call: | Automatically at par plus 7.7% if index closes at or above autocall barrier on Jan. 27, 2022
|
| Initial index level: | 3,849.62
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| Downside threshold: | 2,887.22, 75% of initial level
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 29
|
| Agent: | Morgan Stanley & Co. LLC
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| Dealer: | UBS Financial Services Inc.
|
| Fees: | 2%
|
| Cusip: | 61771J636
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