By Devika Patel
Knoxville, Tenn., Dec. 26 – Morgan Stanley Finance LLC sold $4.55 million of 0% capped buffer gears due Dec. 23, 2021 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 greater than zero, the payout at maturity will be par of $10 plus two times the index return, subject to a maximum payout of $13.334 per $10 of notes. Investors will receive par if the index declines by 25% or less and lose 1% for every 1% that the index may decline beyond 25%.
Morgan Stanley & Co. LLC and UBS Financial Services Inc. are the agents.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Capped buffer gears
|
| Underlying index: | S&P 500
|
| Amount: | $4.55 million
|
| Maturity: | Dec. 23, 2021
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus two times index return, subject to 33.34% maximum payout; par if index declines by 25% or less; 1% loss for every 1% that index declines beyond 25%
|
| Initial index level: | 2,467.42
|
| Downside threshold: | 1,850.57, 75% of initial level
|
| Pricing date: | Dec. 20
|
| Settlement date: | Dec. 26
|
| Agents: | Morgan Stanley & Co. LLC and UBS Financial Services Inc.
|
| Fees: | None
|
| Cusip: | 61768W418
|
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