New Issue: Morgan Stanley sells $17.26 million capped trigger gears on S&P

By Sarah Lizee

Olympia, Wash., July 31 – Morgan Stanley Finance LLC priced $17.26 million of 0% capped trigger gears due July 29, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Morgan Stanley.

If the index return is greater than zero, the payout at maturity will be par of $10 plus two times the index return, capped at par plus 27.85%.

Investors will receive par if the index declines by 25% or less and be fully exposed to the index’s decline from its initial level if it declines by more than 25%.

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
Underlying index:	S&P 500
Amount:	$17,258,100
Maturity:	July 29, 2022
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If the index return is greater than zero, par plus two times the index return, capped at par plus 27.85%; par if the index declines by 25% or less; full exposure to the index’s decline from its initial level if it declines by more than 25%
Initial level:	3,025.86
Downside threshold:	2,269.40, 75% of initial level
Pricing date:	July 26
Settlement date:	July 31
Agent:	Morgan Stanley & Co. LLC
Dealer:	UBS Financial Services Inc.
Fees:	2.5%
Cusip:	61769Q253

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