By William Gullotti
Buffalo, N.Y., June 3 – Morgan Stanley Finance LLC priced $2.08 million of 0% trigger absolute return step securities due May 28, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the initial index level, the payout at maturity will be par of $10 plus the greater of 45% and the index return.
If the final index level is less than the initial index level and greater than or equal to the downside threshold level, 75% of the initial index level, the payout will be par plus the absolute value of the index return.
If the final index level is less than the downside threshold level, investors will lose 1% for every 1% that the final index level is less than the initial index 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 absolute return step securities
|
| Underlying index: | S&P 500
|
| Amount: | $2,079,500
|
| Maturity: | May 28, 2027
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final index level is greater than or equal to initial index level, par plus greater of 45% and index return; if final index level is less than initial index level and greater than or equal to downside threshold level, par plus absolute value of index return; if final index level is less than downside threshold level, 1% loss for every 1% that final index level is less than initial index level
|
| Initial level: | 3,978.73
|
| Downside threshold: | 2,984.05; 75% of initial index level
|
| Pricing date: | May 25
|
| Settlement date: | May 31
|
| Agent: | Morgan Stanley & Co. LLC
|
| Dealer: | UBS Financial Services Inc.
|
| Fees: | None
|
| Cusip: | 61773Y888
|
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