Chicago, June 27 – Morgan Stanley Finance LLC priced $17.71 million of 0% trigger absolute return step securities due June 28, 2024 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 plus the greater of the gain and the step return of 31.5%.
If the index falls but finishes at or above the 75% downside threshold, the payout will be par plus the absolute value of the return.
Otherwise, investors will 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: | $17,717,500
|
| Maturity: | June 28, 2024
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index gains, par plus the greater of the gain and the step return of 31.5%; if index falls but finishes at or above downside threshold, par plus absolute value of the return; otherwise, full exposure to any losses
|
| Initial level: | 2,917.38
|
| Downside threshold: | 2,188.04, 75% of initial level
|
| Pricing date: | June 25
|
| Settlement date: | June 28
|
| Agent: | Morgan Stanley & Co. LLC
|
| Dealer: | UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 61768Y745
|
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