New Issue: Morgan Stanley prices $2.36 million PLUS due 2021 on gold

By Sarah Lizee

Olympia, Wash., July 24 – Morgan Stanley Finance LLC priced $2.36 million of 0% Performance Leveraged Upside Securities due July 22, 2021 linked to gold, according to a 424B2 filing with the Securities and Exchange Commission.

If the commodity’s return is positive, the payout at maturity will be par plus 200% of the commodity’s return, capped at par plus 20%. If the commodity’s return is negative, investors will be exposed to the decline of the commodity.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent. Morgan Stanley Wealth Management is a dealer.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Performance Leveraged Upside Securities
Underlying:	Gold
Amount:	$2,358,000
Maturity:	July 22, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If the commodity’s return is positive, the payout at maturity will be par plus 200% of the commodity’s return, capped at par plus 20%; if the commodity’s return is negative, investors will be exposed to the decline of the commodity
Initial level:	$1,439.70
Pricing date:	July 19
Settlement date:	July 26
Agent:	Morgan Stanley & Co. LLC
Dealer:	Morgan Stanley Wealth Management
Fees:	1.75%
Cusip:	61766YED9

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