New Issue: Morgan Stanley prices $250,000 buffered PLUS linked to S&P 500

By Kiku Steinfeld

Chicago, Feb. 8 – Morgan Stanley Finance LLC priced $250,000 of 0% buffered Performance Leveraged Upside Securities due July 31, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 200% of the index return, subject to a maximum return of par plus 15.75%. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered Performance Leveraged Upside Securities
Underlying index:	S&P 500
Amount:	$250,000
Maturity:	July 31, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 200% of index return, subject to par plus 15.75% maximum return; par if index declines by 10% or less; 1% loss for every 1% that index declines beyond 10%
Initial level:	3,849.62
Buffer level:	3,464.658, 90% of initial level
Pricing date:	Jan. 26
Settlement date:	Jan. 29
Agent:	Morgan Stanley & Co. LLC
Fees:	2.5%
Cusip:	61771EWP9

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