New Issue: Morgan Stanley sells $4.7 million fixed-income buffered securities on Russell, EAFE ETF

By Taylor Fox

New York, Feb. 16 – Morgan Stanley Finance LLC priced $4.7 million of 5.5% fixed-income buffered securities due Feb. 1, 2022 linked to the lesser performing of the Russell 2000 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

Interest is payable monthly.

The payout at maturity will be par plus the coupon unless either asset finishes below its buffer level, 80% of its initial level, in which case investors will lose 1.25% for every 1% that the lesser-performing asset declines beyond 20%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Fixed-income buffered securities
Underlying assets:	Russell 2000 index and iShares MSCI EAFE ETF
Amount :	$4,700,000
Maturity:	Feb. 1, 2022
Coupon:	5.5% per year, payable monthly
Price:	Par
Payout at maturity:	Par plus the coupon unless either underlier finishes below its buffer level, in which case investors will lose 1.25% for every 1% that lesser-performing underlier declines beyond buffer
Initial levels:	2,160.617 for Russell, $75.45 for MSCI
Buffer levels:	1,728.494 for Russell, $60.36 for MSCI; 80% of initial levels
Pricing date:	Jan. 21
Settlement date:	Jan. 25
Agent:	Morgan Stanley & Co. LLC
Fees:	0%
Cusip:	61771EL22

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