New Issue: Morgan Stanley sells $4.22 million 25.9% fixed income buffered securities on three stocks

By William Gullotti

Buffalo, N.Y., June 20 – Morgan Stanley Finance LLC priced $4.22 million of 25.9% fixed income buffered securities due June 17, 2025 linked to the stock performance of Alphabet Inc., Advanced Micro Devices, Inc. and Upstart Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

Interest is paid monthly.

The payout at maturity will be par plus the fixed coupon unless any stock finishes below its buffer level, 80% of its initial level, in which case investors will lose 1% for every 1% that the worst performer declines beyond 20%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Fixed income buffered securities
Underlying stocks:	Alphabet Inc., Advanced Micro Devices, Inc., Upstart Holdings, Inc.
Amount:	$4,222,000
Maturity:	June 17, 2025
Coupon:	25.9% per year, payable monthly
Price:	Par
Payout at maturity:	Par plus the coupon unless any stock finishes below buffer level, in which case investors will lose 1% for every 1% that worst performer declines beyond buffer
Initial levels:	$124.35 for Alphabet, $129.19 for AMD, $33.72 for Upstart
Buffer levels:	$99.48 for Alphabet, $103.352 for AMD, $26.976 for Upstart; 80% of initial levels
Pricing date:	June 12
Settlement date:	June 15
Agent:	Morgan Stanley & Co. LLC
Fees:	0.4%
Cusip:	61774X6Y4

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