New Issue: Morgan Stanley sells $2 million equity-linked partial principal at risk securities

By William Gullotti

Buffalo, N.Y., June 14 – Morgan Stanley Finance LLC priced $2 million of 0% equity-linked partial principal at risk securities due June 5, 2025 linked to the performance of the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If each index finishes at or above its initial level, the payout at maturity will be par plus the return of the laggard index capped at 29.5%.

If the laggard index declines, investors will receive par plus the return of the laggard index, subject to a minimum return of 95% of par.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Equity-linked partial principal at risk securities
Underlying indexes:	Dow Jones industrial average, S&P 500 index
Amount:	$2 million
Maturity:	June 5, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If each index finishes at or above initial level, par plus laggard index’s return capped at 29.5%; otherwise, par plus least-performing index return, subject to minimum payout of 95% of par
Initial levels:	4,132.15 for S&P, 32,990.12 for Dow
Pricing date:	May 31
Settlement date:	June 3
Agent:	Morgan Stanley & Co. LLC
Fees:	0.75%
Cusip:	61774DGB7

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