New Issue: Morgan Stanley prices $315,000 trigger PLUS linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Sept. 27 - Morgan Stanley priced $315,000 of 0% trigger Performance Leveraged Upside Securities due Sept. 29, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 200% of the index return. Investors will receive par if the index falls by less than 40% and will have 1-to-1 exposure to the index's decline from the initial level if it falls by 40% or more.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley
Issue:	Trigger Performance Leveraged Upside Securities
Underlying index:	S&P 500
Amount:	$315,000
Maturity:	Sept. 29, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 200% of index return; par if index falls by less than 40%; 1-to-1 exposure to index's decline from initial level if it falls by 40% or more
Initial index level:	1,692.77
Trigger level:	1,015.662, 60% of initial index level
Pricing date:	Sept. 25
Settlement date:	Sept. 30
Agent:	Morgan Stanley & Co. LLC
Fees:	3.5%
Cusip:	61761JLG2

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