By William Gullotti
Buffalo, N.Y., May 16 – Morgan Stanley Finance LLC priced $7.41 million of 0% autocallable trigger gears due May 16, 2030 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 called automatically at par plus 10% call premium if the index closes at or above its initial level on May 17, 2024.
The payout at maturity will be par of $10 plus 2.15 times any index gain.
Investors will receive par if the index declines by up to 25% and be fully exposed to the index’s decline from its initial level if it declines by more than 25%.
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: | Autocallable trigger gears
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| Underlying index: | S&P 500 index
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| Amount: | $7.41 million
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| Maturity: | May 16, 2030
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 2.15 times any index gain; par if index declines by 25% or less; otherwise, full exposure to index decline from initial level
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| Call: | Automatically at par plus 10% call premium if the index closes at or above initial level on May 17, 2024
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| Initial level: | 4,130.62
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| Downside threshold: | 3,097.97; 75% of initial level
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| Pricing date: | May 11
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| Settlement date: | May 16
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| Agent: | Morgan Stanley & Co. LLC
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| Dealer: | UBS Financial Services Inc.
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| Fees: | 2.5%
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| Cusip: | 61774W451
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