New Issue: Morgan Stanley sells $1 million enhanced trigger jump notes on stocks

By Kiku Steinfeld

Chicago, April 7 – Morgan Stanley Finance LLC priced $1 million of 0% enhanced trigger jump securities due March 17, 2022 linked to the least performing of the common stock of Align Technology, Inc., the American Depositary shares of Pinduoduo Inc. and the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

If each stock finishes at or above its 50% downside threshold level, the payout at maturity will be par plus 26%. Otherwise, investors will be fully exposed to the losses of the worst-performing stock.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Enhanced trigger jump securities
Underlying stocks:	Align Technology, Inc., Pinduoduo Inc. and Tesla, Inc.
Amount:	$1 million
Maturity:	March 17, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If each stock finishes at or above downside threshold level, par plus 26%; otherwise, par exposure to decline of worst-performing stock
Initial levels:	$515.87 for Align, $154.18 for Pinduoduo and $673.58 for Tesla
Downside threshold levels:	$257.935 for Align, $77.09 for Pinduoduo and $336.79 for Tesla; 50% of initial level
Pricing date:	March 11
Settlement date:	March 16
Agent:	Morgan Stanley & Co. LLC
Fees:	0.6%
Cusip:	61771VJW1

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