By Susanna Moon
Chicago, Oct. 4 – Morgan Stanley Finance LLC priced $3.78 million of 0% trigger gears due Sept. 29, 2021 linked to the Energy Select Sector SPDR Fund, according to an FWP filing with the Securities and Exchange Commission.
If the fund finishes above the initial level, the payout at maturity will be par plus triple the gain up to a maximum return of 41.8%.
If the fund falls by up to its 80% downside threshold level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC and UBS Financial Services Inc. are the agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Trigger gears
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| Underlying fund: | Energy Select Sector SPDR Fund
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| Amount: | $3.78 million
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| Maturity: | Sept. 29, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If fund gains, par plus 3 times return, capped at 41.8%; if fund falls by up to 20%, par; otherwise, 1% loss per 1% decline
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| Initial level: | $76.20
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| Trigger level: | $60.96, 80% of initial level
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| Pricing date: | Sept. 24
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| Settlement date: | Sept. 27
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| Agents: | Morgan Stanley & Co. LLC and UBS Financial Services Inc.
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| Fees: | 2.5%
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| Cusip: | 61768T316
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