New Issue: Morgan Stanley prices $500,000 trigger PLUS with no cap tied to indexes

By Wendy Van Sickle

Columbus, Ohio, Aug. 8 – Morgan Stanley Finance LLC priced $500,000 of 0% trigger Performance Leveraged Upside Securities due Oct. 31, 2025 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Morgan Stanley.

If each index finishes at or above its initial level, the payout at maturity will be par of $10 plus 200% of the gain of the worse performing index.

Investors will receive par if either index falls but by no more than 50% and will be fully exposed to any losses of the worse performing index if it finishes below the 50% trigger level.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Trigger Performance Leveraged Upside Securities
Underlying index:	S&P 500, Russell 2000
Amount:	$500,000
Maturity:	Oct. 31, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If final level of each is greater than initial index level, par plus 200% of lesser-performing index return; if lesser-performing index falls by up to trigger level, par; otherwise, full exposure to loss of lesser-performing index
Initial index levels:	2,447.83 for S&P, 1,442.279 for Russell
Trigger levels:	1,238.915 for S&P, 721.14 for Russell, 50% of initial levels
Pricing date:	July 26
Settlement date:	July 31
Agent:	Morgan Stanley & Co. LLC
Fees:	5%
Cusip:	61768CLZ8

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