By Taylor Fox
New York, Nov. 20 – Morgan Stanley Finance LLC priced $372,000 of 0% enhanced trigger jump securities due Dec. 8, 2021 linked to the worst performing of the VanEck Vectors Gold Miners ETF and the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If each fund finishes at or above 60% of its initial level, the payout at maturity will be par plus 11.3%.
If any fund finishes below 60% of its initial level, investors will be fully exposed to the decline of the least performing fund from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Enhanced trigger jump securities
|
| Underlying funds: | VanEck Vectors Gold Miners ETF and the Energy Select Sector SPDR fund
|
| Amount: | $372,000
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| Maturity: | Dec. 8, 2021
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each fund finishes at or above 60% of its initial level, par plus 11.3%; if any fund finishes below 60% of its initial level, full exposure to the decline of the least performing asset from its initial level
|
| Initial levels: | $39.37 for VanEck and $29.53 for Energy Select
|
| Downside thresholds: | $23.622 for VanEck and $17.718 for Energy Select; 60% of initial levels
|
| Pricing date: | Nov. 3
|
| Settlement date: | Nov. 6
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | None
|
| Cusip: | 61771EGP7
|
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