New Issue: Morgan Stanley sells $3 million buffered PLUS tied to Cisco, Microsoft, Nvidia

Chicago, Dec. 5 – Morgan Stanley Finance LLC priced $3 million of 0% buffered Performance Leveraged Upside Securities due May 26, 2021 linked to the worst performing of the common stocks of Cisco Systems, Inc., Microsoft Corp. and Nvidia Corp., according to a 424B2 filed with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If each stock finishes above the initial level, the payout at maturity will be par plus 192% of the gain of the worse performing stock.

If any stock falls but not below the 80% downside threshold, the payout will be par.

Otherwise, investors will lose 1% for every 1% decline of the least performing stock beyond 20%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Performance Leveraged Upside Securities
Underlying stocks:	Cisco Systems, Inc., Microsoft Corp. and Nvidia Corp.
Amount:	$3,000,000
Maturity:	May 26, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If each stock finishes above the initial level, par plus 192% of the gain of the worse performing stock; if any stock falls but not below the 80% downside threshold, par; otherwise, investors will lose 1% for every 1% decline of the least performing stock beyond 20%
Initial levels:	$44.84 for Cisco, $149.48 for Microsoft and $210.18 for Nvidia
Downside thresholds:	80% of initial levels
Pricing date:	Nov. 21
Settlement date:	Nov. 26
Agent:	Morgan Stanley & Co. LLC
Fees:	0.25%
Cusip:	61769HS71

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