New Issue: Morgan Stanley prices $5.02 million dual directional buffered jump notes on S&P 500

By Wendy Van Sickle

Columbus, Ohio, March 26 – Morgan Stanley Finance LLC priced $5.02 million of 0% dual directional buffered jump securities due April 24, 2020 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If the index finishes at or above its initial level, the payout at maturity will be par plus 4.9%.

If the index falls by up to 15%, the payout will be par plus 50% of the absolute value of the index return.

Otherwise, investors will lose 1% for each 1% decline beyond 15%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Dual directional buffered jump securities
Underlying index:	S&P 500
Amount:	$5,017,000
Maturity:	April 24, 2020
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index gains, par plus 4.9%; if index falls by up to 15%, par plus absolute return; otherwise, 1% loss per 1% decline beyond 15%
Initial index level:	2,854.88
Barrier level:	2,462.648, 85% of initial level
Pricing date:	March 21
Settlement date:	March 26
Agent:	Morgan Stanley & Co. LLC
Fees:	0.25%
Cusip:	61768DD3R4

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