By Wendy Van Sickle
Columbus, Ohio, Sept. 28 – Morgan Stanley Finance LLC priced $3.33 million of 0% trigger gears due Sept. 29, 2023 linked to the Vanguard FTSE Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the ETF return is greater than zero, the payout at maturity will be par of $10 plus 1.23 times the ETF return.
Investors will receive par if the ETF declines by 25% or less and be fully exposed to the ETF’s decline from its initial level if it declines by more than 25%.
Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as dealer.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Trigger gears
|
| Underlying ETF: | Vanguard FTSE Emerging Markets ETF
|
| Amount: | $3,329,900
|
| Maturity: | Sept. 29, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the ETF return is greater than zero, par plus 1.23 times the ETF return; par if the ETF declines by 25% or less; full exposure to the ETF’s decline from its initial level if it declines by more than 25%
|
| Initial level: | $41.54
|
| Downside threshold: | $31.16, 75% of initial level
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 28
|
| Agent: | Morgan Stanley & Co. LLC
|
| Dealer: | UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 61768R823
|
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