New Issue: Morgan Stanley prices $1.5 million trigger PLUS tied to S&P 500

By Marisa Wong

Madison, Wis., Dec. 31 – Morgan Stanley priced $1.5 million of 0% trigger Performance Leveraged Upside Securities due Dec. 31, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above its initial level, the payout at maturity will be par of $1,000 plus 150% times the gain, up to a maximum amount of $1,578.30 per note.

If the index falls by up to the 55% trigger level, the payout will be par.

Otherwise, investors will be fully exposed to any losses.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley
Issue:	Trigger Performance Leveraged Upside Securities
Underlying index:	S&P 500 index
Amount:	$1.5 million
Maturity:	Dec. 31, 2019
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If index finishes above its initial level, par plus double gain, up to a maximum amount of $1,578.30 per note; if index falls by up to trigger level, par; otherwise, investors will be fully exposed to any losses
Initial index level:	2,088.77
Trigger level:	1,148.824, 55% of initial level
Pricing date:	Dec. 26
Settlement date:	Dec. 31
Agent:	Morgan Stanley & Co. LLC
Fees:	3%
Cusip:	61761JVX4

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