New Issue: Morgan Stanley sells $1.7 million buffered PLUS on FTSE

By Sarah Lizee

Olympia, Wash., July 23 – Morgan Stanley Finance LLC priced $1.7 million of 0% buffered Performance Leveraged Upside Securities due Jan. 22, 2021 linked to the FTSE 100 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Morgan Stanley.

If the index return is positive, the payout at maturity will be par plus the upside payment of 150% of the index return, up to a maximum amount of $1,150 per $1000 of principle amount.

If the index declines by 21.01% or less, the payout will be par. If the index declines by more than 21.01%, investors will lose 1% for every 1% for every decline beyond 21.01%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered Performance Leveraged Upside Securities
Underlying index:	FTSE 100
Amount:	$1,695,000
Maturity:	Jan. 22, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If the index return is positive, the payout at maturity will be par plus the upside payment of 150% of the index return, up to a maximum amount of $1,150 per $1000 of principle amount; if index declines by 21.01% or less, par; otherwise, 1% loss for every 1% decline beyond 21.01%
Initial index value:	7,508.70
Buffer amount:	5,931.122, 78.99% of initial amount
Pricing date:	July 19
Settlement date:	July 24
Agent:	Morgan Stanley & Co. LLC
Fees:	0.25%
Cusip:	61769Q402

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