By Marisa Wong
Morgantown, W.Va., Aug. 3 – Morgan Stanley Finance LLC priced $2.82 million of 0% capped trigger gears due July 31, 2020 linked to the VanEck Vectors Oil Services exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
If the ETF return is greater than zero, the payout at maturity will be par of $10 plus 5 times the ETF return, subject to a maximum gain of 47.5%. The exact cap will be set at pricing.
Investors will receive par if the ETF declines by 20% or less and be fully exposed to the ETF’s decline from its initial level if it declines by more than 20%.
Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as dealer.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Capped trigger gears
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| Underlying ETF: | VanEck Vectors Oil Services ETF
|
| Amount: | $2,821,400
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| Maturity: | July 31, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the ETF return is greater than zero, par plus 5 times the ETF return, up to maximum gain of 47.5%; par if the ETF declines by 20% or less; full exposure to the ETF’s decline from its initial level if it declines by more than 20%
|
| Initial price: | $24.99
|
| Downside threshold: | $19.99, 80% of initial price
|
| Pricing date: | July 26
|
| Settlement date: | July 31
|
| Agent: | Morgan Stanley & Co. LLC
|
| Dealer: | UBS Financial Services Inc.
|
| Fees: | 2.5%
|
| Cusip: | 61766X293
|
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