By Marisa Wong
Morgantown, W.Va., April 5 – Morgan Stanley Finance LLC priced $7.29 million of 0% lookback trigger step securities due March 31, 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 return is zero or positive, the payout at maturity will be par of $10 plus the greater of the index return and the step return of 30.6%.
If the index declines by 20% or less, the payout will be par.
If the index declines beyond 20%, investors will be exposed to the index’s decline from its initial level.
The initial index level will be the lowest closing level of the index during the two-month period from pricing through May 24.
Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as dealer.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Lookback trigger step securities
|
| Underlying index: | S&P 500
|
| Amount: | $7,289,400
|
| Maturity: | March 31, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the index return is zero or positive, par plus the greater of the index return and 30.6%; if the index declines by 20% or less, par; otherwise, investors will be exposed to the index’s decline from its initial level
|
| Initial index level: | Lowest closing level of the index during the two-month period from pricing through May 24
|
| Pricing date: | March 24
|
| Settlement date: | March 29
|
| Agent: | Morgan Stanley & Co. LLC
|
| Dealer: | UBS Financial Services Inc
|
| Fees: | 3.5%
|
| Cusip: | 61766V677
|
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