New Issue: Morgan Stanley prices $1.79 million airbag performance notes linked to the Dow

By Susanna Moon

Chicago, April 30 - Morgan Stanley priced $1.79 million of 0% airbag performance securities due April 30, 2024 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 150.75% of any index gain.

Investors will receive par if the index falls by up to 50% and will lose 2% for every 1% decline beyond 50%.

Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as dealer

Issuer:	Morgan Stanley
Issue:	Airbag performance securities
Underlying index:	Dow Jones industrial average
Amount:	$1,787,000
Maturity:	April 30, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150.75% of any index gain; par if index falls by up to 50%; 2% loss per 1% decline beyond 50%
Initial index level:	16,361.46
Pricing date:	April 25
Settlement date:	April 30
Agent:	Morgan Stanley & Co. LLC
Dealer:	UBS Financial Services Inc.
Fees:	5%
Cusip:	61760S852

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