By William Gullotti
Buffalo, N.Y., Sept. 19 – Morgan Stanley Finance LLC priced $3 million of 0% trigger absolute return step securities due Sept. 19, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the initial index level, the payout at maturity will be par of $10 plus the greater of 30.75% and the index return.
If the index declines but finishes at or above the downside threshold level, 75% of the initial index level, the payout will be par plus the absolute value of the index return.
Otherwise, investors will lose 1% for every 1% that the final index level is less than the initial index level.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC and UBS Financial Services Inc. are the agents.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Trigger absolute return step securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $2,998,650
|
| Maturity: | Sept. 19, 2028
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final index level is greater than or equal to initial index level, par plus greater of 30.75% and index return; if index declines but finishes at or above downside threshold level, par plus absolute value of index return; otherwise, 1% loss for each 1% that the index declines from initial level
|
| Initial level: | 4,505.1
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| Downside threshold: | 3,378.83; 75% of initial index level
|
| Pricing date: | Sept. 14
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| Settlement date: | Sept. 19
|
| Agents: | Morgan Stanley & Co. LLC and UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 61775K126
|
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