By William Gullotti
Buffalo, N.Y., Oct. 28 – Morgan Stanley Finance LLC priced $7.84 million of 0% trigger Performance Leveraged Upside Securities due Oct. 3, 2024 linked to an equally-weighted ETF basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of VanEck Vectors Gold Miners ETF and the iShares Silver Trust.
The notes are guaranteed by Morgan Stanley.
If the final index level is greater than or equal to the initial level, the payout at maturity will be par plus 200% of the basket return, subject to a maximum return of par plus 42%. If the basket declines by 20% or less, the payout will be par. If the basket declines by more than 20%, investors will lose 1% for every 1% that the basket declines from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Trigger Performance Leveraged Upside Securities
|
| Underlying funds: | VanEck Vectors Gold Miners ETF, iShares Silver Trust; 50% weights
|
| Amount: | $7,838,820
|
| Maturity: | Oct. 3, 2024
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final basket level is greater than initial level, par plus 200% of basket return capped at 42%; if final basket level is less than initial basket level but greater than or equal to trigger level, par; if final basket level is less than trigger level, 1% loss for every 1% that basket declines from initial level
|
| Initial index levels: | $29.47 for VanEck, $20.52 for iShares
|
| Trigger level: | 80% of initial level
|
| Pricing date: | Sept. 30
|
| Settlement date: | Oct. 5
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3%
|
| Cusip: | 61773E486
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