Morgan Stanley plans buffered PLUS tied to Dow Jones industrials

New York, April 6 – Morgan Stanley Finance LLC plans to price 0% buffered Performance Leveraged Upside Securities due Oct. 29, 2020 linked to the Dow Jones Industrial average, according to an FWP with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus 200% of any index gain, up to a maximum return of par plus 23% to 24%. The exact cap will be set at pricing.

If the index falls by up to 10%, the payout will be par.

Otherwise, investors will lose 1% for each 1% decline beyond 10%.

The notes will be guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

The notes will price on April 25 and settle on April 30.

The Cusip number is 61768CS40.

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