By Kiku Steinfeld
Chicago, Aug. 12 – Morgan Stanley Finance LLC priced $6.7 million of 0% trigger Performance Leveraged Upside Securities due July 19, 2024 linked to a basket of three commodities, according to a 424B2 filing with the Securities and Exchange Commission.
The equally weighted basket includes West Texas Intermediate crude oil, copper and gold.
The payout at maturity will be par plus 138% of any basket gain.
Investors will receive par if the basket falls by up to 15% and will be fully exposed to any losses if the basket finishes below its 85% trigger level.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent. Morgan Stanley Wealth Management is a selected dealer.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Trigger Performance Leveraged Upside Securities
|
| Underlying commodities: | West Texas Intermediate light sweet crude oil futures contracts, copper spot price and London gold price; equally weighted
|
| Amount: | $6,704,000
|
| Maturity date: | July 19, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket return is positive, par plus 138% of basket return; par if basket declines by up to 15%; full exposure to basket decline from initial level if it finishes at or below trigger level
|
| Initial prices: | $71.81 for crude oil, $9,396.50 for copper, $1,824.30 for gold
|
| Initial basket level: | 100
|
| Trigger level: | 85% of initial level
|
| Pricing date: | July 16
|
| Settlement date: | July 21
|
| Agent: | Morgan Stanley & Co. LLC
|
| Selected dealer: | Morgan Stanley Wealth Management
|
| Fees: | 3%
|
| Cusip: | 61773FEF6
|
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