New Issue: Morgan Stanley prices $10 million buffered securities tied to Russell 2000

By Wendy Van Sickle

Columbus, Ohio, Jan. 31 – Morgan Stanley Finance LLC priced $10 million 0% buffered securities due June 2, 2021 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Morgan Stanley.

If the final index level is greater than the initial index level, the payout at maturity will be par plus 321.67% of the index return, capped at 19.3%. If the final index level is less than or equal to the initial index level but greater than or equal to the 80% buffer level, the payout will be par. Investors will lose 1% for every 1% that the index declines below the buffer level.

Morgan Stanley & Co. Inc. is the agent.

Issuer:	Morgan Stanley Finance LLC
Issue:	Buffered securities
Underlying index:	Russell 2000
Amount:	$10 million
Maturity:	June 2, 2021
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If index finishes at or above initial level, par plus 321.67% of index return, capped at 19.3%; par if index falls, but not below buffer level; otherwise, 1% loss for every 1% drop beyond 20% buffer
Initial level:	1,601.669
Buffer level:	1,281.335, 80% of initial level
Pricing date:	Jan. 25
Settlement date:	Jan. 30
Agents:	Morgan Stanley & Co. LLC
Fees:	0.55%
Cusip:	61768M469

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