By Wendy Van Sickle
Columbus, Ohio, Feb. 27 – Morgan Stanley Finance LLC priced $1.26 million of 0% trigger absolute return step securities due Feb. 28, 2022 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.
If the index finishes at or above its initial level, the payout at maturity will be par of $10 plus the greater of the gain and the step return of 37.1%.
If the index falls by up to the 70% downside threshold level, the payout will be par plus the absolute value of the index return.
Otherwise, investors will lose 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 index: | S&P 500
|
| Amount: | $1,257,100
|
| Maturity: | Feb. 28, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index gains, par plus the greater of return and 37.1%; if index falls by up to 30%, par plus the absolute return; otherwise, full exposure to any losses
|
| Initial index level: | 2,363.81
|
| Downside threshold: | 1,654.67, 70% of initial level
|
| Pricing date: | Feb. 23
|
| Settlement date: | Feb. 28
|
| Agent: | Morgan Stanley & Co. LLC
|
| Dealer: | UBS Financial Services Inc.
|
| Fees: | 0%
|
| Cusip: | 61766V347
|
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