By William Gullotti
Buffalo, N.Y., Dec. 21 – Morgan Stanley Finance LLC priced $3 million of 0% trigger digital notes due Dec. 20, 2022 linked to the West Texas Intermediate Light Sweet Crude Oil Futures Contracts, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the final commodity level is greater than or equal to the downside threshold level, 70% of the initial commodity level, the payout at maturity will be par plus 21.4%. Otherwise, investors will lose 1% for every 1% that the commodity declines from its initial level.
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 digital notes
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| Underlying commodity: | West Texas Intermediate Light Sweet Crude Oil Futures Contracts
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| Amount: | $3 million
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| Maturity: | Dec. 20, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final commodity level is greater than or equal to downside threshold level, par plus 21.4%; otherwise, 1% loss for every 1% that commodity declines from initial level
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| Initial commodity level: | $65.57
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| Downside threshold: | $45.90; 70% of initial level
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| Strike date: | Dec. 1
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| Pricing date: | Dec. 2
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| Settlement date: | Dec. 7
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| Agent: | Morgan Stanley & Co. LLC with UBS Financial Services Inc. as dealer
|
| Fees: | 0.75%
|
| Cusip: | 61773FER0
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