New Issue: Morgan Stanley sells $1.58 million equity-linked partial principal at risk securities

By William Gullotti

Buffalo, N.Y., June 22 – Morgan Stanley Finance LLC priced $1.58 million of 0% equity-linked partial principal at risk securities due June 21, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If the index finishes at or above its initial level, the payout at maturity will be par plus 90% of the return.

If the index declines, investors will receive par plus the return of the index, subject to a minimum return of 95% of par.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Equity-linked partial principal at risk securities
Underlying index:	S&P 500 index
Amount:	$1,575,000
Maturity:	June 21, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	If the index finishes at or above initial level, par plus 90% of index return; otherwise, 1% loss for every 1% decline from initial level, subject to minimum payout of 95% of par
Initial level:	3,789.99
Pricing date:	June 15
Settlement date:	June 21
Agent:	Morgan Stanley & Co. LLC
Fees:	0.75%
Cusip:	61774DPN1

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