By Wendy Van Sickle
Columbus, Ohio, March 28 – Morgan Stanley Finance LLC priced $1.69 million of 0% trigger step securities due March 30, 2023 linked to the MSCI Emerging Markets 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 36%.
Investors will receive par if the index declines by 30% or less and will lose 1% for each 1% decline from its initial level if the index falls more than 30%.
Morgan Stanley & Co. LLC and UBS Financial Services Inc. are the agents.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Trigger step securities
|
| Underlying index: | MSCI Emerging Markets index
|
| Amount: | $1,688,750
|
| Maturity: | March 30, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index return is zero or positive, par plus greater of 36% and index return; par if index declines by up to 30%; 1% loss for each 1% decline from initial level if index falls beyond 30%
|
| Initial level: | 1,059.63
|
| Downside threshold: | 741.74, 70% of initial level
|
| Pricing date: | March 25
|
| Settlement date: | March 28
|
| Agent: | Morgan Stanley & Co. LLC and UBS Financial Services Inc.
|
| Fees: | 0%
|
| Cusip: | 61768X655
|
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