New Issue: Morgan Stanley sells $250,000 buffered participation notes on Russell, S&P

By Sarah Lizee

Olympia, Wash., Aug. 5 – Morgan Stanley Finance LLC priced $250,000 of 0% buffered participation securities due July 31, 2024 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes at or above its initial level, the payout at maturity will be par plus the gain of the worse performing index.

Investors will receive par if either index falls by up to 15% and will lose 1% for each 1% decline of the worse performing index beyond 15%.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered participation securities
Underlying indexes:	Russell 2000 index, S&P 500 index
Amount:	$250,000
Maturity:	July 31, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If each index gains, par plus return of worse performing index; par if either index falls by up to 15%; 1% loss per 1% decline of worse performing index beyond 15%
Initial levels:	1,578.967 for Russell, 3,025.86 for S&P
Pricing date:	July 26
Settlement date:	July 31
Agent:	Morgan Stanley & Co. LLC
Fees:	3.75%
Cusip:	61769HKM6

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