By Taylor Fox
New York, Feb. 16 – Morgan Stanley Finance LLC priced $1.17 million of 0% trigger Performance Leveraged Upside Securities due July 19, 2022 linked to the ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the ETF finishes above its initial level, the payout at maturity will be par plus 200% of the ETF return, capped at par plus 46%.
If the ETF finishes at or below its initial level but at or above its trigger level, the payout will be par. The trigger level is 70% of the initial ETF level.
If the ETF finishes below its trigger level, investors will be fully exposed to the ETF’s decline 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 ETF: | ARK Innovation ETF
|
| Amount: | $1,165,000
|
| Maturity: | July 19, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If ETF finishes above initial level, par plus 200% of ETF return capped at par plus 46%; if ETF finishes at or below initial level but at or above trigger level, par; if ETF finishes below trigger level, full exposure to decline
|
| Initial level: | $145.28
|
| Trigger level: | $101.696, 70% of initial levels
|
| Pricing date: | Jan. 14
|
| Settlement date: | Jan. 20
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.875%
|
| Cusip: | 61771EJ58
|
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