New Issue: Morgan Stanley prices $250,000 buffered PLUS tied to Russell, S&P

By William Gullotti

Buffalo, N.Y., Sept. 9 – Morgan Stanley Finance LLC priced $250,000 of 0% buffered Performance Leveraged Upside Securities due Dec. 29, 2023 linked to the worse performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If each index finishes above the initial level, the payout at maturity will be par plus 200% of the gain of the worse performing index, subject to a maximum payout of par plus 17.5%.

If either index falls by up to 10%, the payout will be par.

Otherwise, investors will lose 1% for each 1% decline of the index beyond 10%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered Performance Leveraged Upside Securities
Underlying indexes:	S&P 500, Russell 2000
Amount:	$250,000
Maturity:	Dec. 29, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If each index gains, par plus 200% of return of worse performing index capped at par plus 17.5%; if either index falls by up to 10%, par; otherwise, 1% loss for each 1% decline beyond 10%
Initial levels:	4,280.7 for S&P, 2,334.396 for Russell
Buffer levels:	3,852.63 for S&P, 2,100.956 for Russell, 90% of initial levels
Pricing date:	June 25
Settlement date:	June 30
Agent:	Morgan Stanley & Co. LLC
Fees:	1.75%
Cusip:	61771V2W9

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