New Issue: Morgan Stanley sells $14.53 million leveraged buffered notes on iShares MSCI ETF

By Taylor Fox

New York, Aug. 24 – Morgan Stanley Finance LLC priced $14.53 million of 0% leveraged buffered notes due May 6, 2022 linked to the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 150% of any fund gain, up to a maximum settlement amount of $1,152.10 for each $,000 principal amount.

Investors will receive par if the fund falls by up to 10% and will lose 1.1111% for each 1% decline 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:	Leveraged buffered notes
Underlying fund:	iShares MSCI Emerging Markets ETF
Amount:	$14,530,000
Maturity:	May 6, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any fund gain, up to a maximum settlement amount of $1,152.10 for each $1,000 principal amount; par if fund falls by up to 10%; 1.1111% loss for each 1% decline beyond 10%
Initial level:	$56.24
Barrier level:	$50.616, 90% of initial level
Pricing date:	Feb. 5
Settlement date:	Feb. 12
Agent:	Morgan Stanley & Co. LLC
Fees:	1.09%
Cusip:	61771E2K3

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