By Kiku Steinfeld
Chicago, Feb. 4 – Morgan Stanley Finance LLC priced $7.52 million of 0% trigger autocallable notes due Feb. 1, 2022 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
After six months, the notes will be automatically called at par of $10 plus a call premium of 7.72% a year if the shares close at or above the initial share price on any quarterly observation date.
If the notes are not called and the final share price is greater than or equal to the downside threshold, 80% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as dealer.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Trigger autocallable notes
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| Underlying ETF: | SPDR S&P 500 ETF Trust
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| Amount: | 7,518,800
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| Maturity: | Feb. 1, 2022
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| Contingent coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par unless ETF finishes below downside threshold, in which case 1% loss for each 1% decline from initial price
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| Call: | After six months, automatically at par plus 7.72% a year premium if ETF closes at or above initial price on any quarterly observation date
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| Initial price: | $323.50
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| Downside threshold: | $258.80, 80% of initial price
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| Pricing date: | Jan. 28
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| Settlement date: | Jan. 30
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| Agent: | Morgan Stanley & Co. LLC
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| Dealer: | UBS Financial Services Inc.
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| Fees: | 1.5%
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| Cusip: | 61770G120
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