By William Gullotti
Buffalo, N.Y., Oct. 3 – Morgan Stanley Finance LLC priced $4.53 million of 0% trigger gears due Aug. 31, 2032 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.
The payout at maturity will be par of $10 plus 1.37 times any index gain.
Investors will receive par if the index declines by up to 35% and be fully exposed to the index’s decline from its initial level if it declines by more than 35%.
Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as placement agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Trigger gears
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Underlying index: | S&P 500 index
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Amount: | $4,527,480
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Maturity: | Aug. 31, 2032
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.37 times any index gain; par if index declines by 35% or less; full exposure to the index’s decline from its initial level if it declines by more than 35%
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Initial level: | 4,057.66
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Downside threshold: | 2,637.48; 65% of initial level
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Pricing date: | Aug. 26
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Settlement date: | Aug. 31
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Agent: | Morgan Stanley & Co. LLC
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Dealer: | UBS Financial Services Inc.
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Fees: | 5%
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Cusip: | 61774E147
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