By Taylor Fox
New York, Feb. 22 – Morgan Stanley Finance LLC priced $1 million of trigger PLUS notes due Feb. 14, 2022 linked to the worst performing of the common stocks of Expedia Group, Inc., Lam Research Corp. and Qualcomm Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The payout at maturity will be par plus 160% of the return of the worst performing stock if all stocks finish above their initial levels.
If the worst performing stock declines, but not lower than its 65% trigger value, investors will receive par.
Otherwise, investors will be fully exposed to the decline of the lesser performing stock.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Issue: | Trigger PLUS notes
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| Underliers: | Expedia Group, Inc., Lam Research Corp. and Qualcomm Inc.
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| Amount: | $1 million
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| Maturity: | Feb. 14, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 160% of the return of worst performing stock if all stocks finish above initial levels; par if worst performer declines up to 65% trigger level; otherwise, full exposure to losses of worst performer
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| Initial level: | $141.91 for Expedia, $519.53 for Lam and $147.97 for Qualcomm
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| Trigger level: | $92.242 for Expedia, $337.695 for Lam and $96.181 for Qualcomm, 65% of initial levels
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| Pricing date: | Feb. 9
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| Settlement date: | Feb. 12
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 61771E5H7
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