New Issue: Morgan Stanley sells $1.04 million buffered participation securities on basket

By Sarah Lizee

Olympia, Wash., Oct. 8 – Morgan Stanley Finance LLC priced $1.04 million of 0% buffered participation securities due Oct. 3, 2024 linked to a performance allocation basket containing the S&P 500 index, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 with the Securities and Exchange Commission.

The notes will be guaranteed by Morgan Stanley.

Each index’s weight within the basket will be determined based on its performance. The best performer will be given a weight of 66%, the second-best performer will be given a weight of 34% and the worst performer will be given a 0% weight.

The payout at maturity will be par plus any basket gain.

Investors will receive par if the basket falls by up to 10% and will lose 1% for every 1% decline beyond the 10% buffer.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered participation securities
Basket components:	S&P 500 index, Euro Stoxx 50 index and Russell 2000 index; weighting based on performance, with best performer at 66%, second-best performer at 34% and worst performer at 0%
Amount:	$1,035,000
Maturity:	Oct. 3, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any basket gain; par if the final basket level is at least 90% of the initial level; otherwise, investors will be exposed to losses beyond the 10% buffer
Initial index levels:	2,976.74 for S&P, 3,569.45 for Stoxx, 1,523.373 for Russell
Pricing date:	Sept. 3
Settlement date:	Oct. 3
Agent:	Morgan Stanley & Co. LLC
Fees:	0.25%
Cusip:	61769HXE0

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