By Sarah Lizee
Olympia, Wash., July 31 – Morgan Stanley Finance LLC priced $2.31 million of 0% trigger step securities due July 29, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the index return is zero or positive, the payout at maturity will be par of $10 plus the greater of the index return and the step return of 27%.
Investors will receive par if the index declines by 25% or less and will lose 1% for each 1% decline from its initial level if the index falls 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: | Trigger step securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $2,308,000
|
| Maturity: | July 29, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index return is zero or positive, par plus greater of 27% and index return; par if index declines by up to 25%; 1% loss for each 1% decline from initial level if index falls beyond 25%
|
| Initial level: | 2,837.44
|
| Downside threshold: | 2,128.08, 75% of initial level
|
| Pricing date: | July 26
|
| Settlement date: | July 31
|
| Agent: | Morgan Stanley & Co. LLC
|
| Dealer: | UBS Financial Services Inc.
|
| Fees: | 3%
|
| Cusip: | 61768R278
|
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