Published on 9/20/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $6.85 million trigger gears linked to index basket
By Sarah Lizee
Olympia, Wash., Sept. 20 – Morgan Stanley Finance LLC priced $6.85 million of 0% trigger gears due Sept. 20, 2024 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the S&P Midcap 400 index with a 40% weight, the Russell 2000 index with a 40% weight and the S&P 500 index with a 20% weight.
If the basket return is positive, the payout at maturity will be par of $10 plus the basket return. If the basket declines by up to the downside threshold, 55.5% of its initial level, the payout will be par. If the basket declines beyond the downside threshold, investors will lose 1% for every 1% that the basket declines from its initial level.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent. UBS Financial Services Inc. is acting as dealer.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Trigger gears
|
| Underlying indexes: | S&P Midcap 400 index with a 40% weight, Russell 2000 index with a 40% weight and S&P 500 index with a 20% weight
|
| Amount: | $6,851,000
|
| Maturity: | Sept. 20, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the basket return is positive, par plus the basket return; if the basket declines by up to the downside threshold, par; if the basket declines beyond the downside threshold, 1% loss for every 1% that the basket declines from its initial level
|
| Initial levels: | 1,959.49 for Midcap, 1,578.290 for Russell and 3,005.70 for S&P
|
| Downside threshold: | 55.5% of initial basket level
|
| Pricing date: | Sept. 17
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| Settlement date: | Sept. 20
|
| Agent: | Morgan Stanley & Co. LLC
|
| Dealer: | UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 61770C186
|
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