New Issue: Morgan Stanley prices $10.95 million digital notes linked to S&P 500

By Marisa Wong

Los Angeles, Sept. 13 – Morgan Stanley Finance LLC priced $10.95 million of 0% digital notes due Feb. 16, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If the final level of the index is equal to or greater than 87.5% of the initial level, the payout at maturity will be par plus 8.7%. Otherwise, investors will lose 1.1429% for every 1% index decline beyond 12.5%.

Morgan Stanley & Co. LLC is the underwriter.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Digital notes
Underlying index:	S&P 500
Amount:	$10,954,000
Maturity:	Feb. 16, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes at or above 87.5% of initial level, par plus 8.7%; otherwise, 1.1429% loss for every 1% index decline beyond 12.5%
Initial index level:	4,514.07
Threshold level:	3,949.81125, 87.5% of initial level
Pricing date:	Sept. 8
Settlement date:	Sept. 15
Underwriter:	Morgan Stanley & Co. LLC
Fees:	None
Cusip:	61773FXU2

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