New Issue: Morgan Stanley prices $500,000 Trigger PLUS linked to copper

By Kiku Steinfeld

Chicago, March 29 – Morgan Stanley Finance LLC priced $500,000 of 0% Trigger PLUS due Dec. 12, 2024 linked to the price of Copper grade A, according to a 424B2 filing with the Securities and Exchange Commission.

If the commodity return is positive, the payout at maturity will be par plus 110% of the commodity return. Investors will receive par if the commodity return is negative but ends at or above the 70% trigger and will lose 1% for every 1% decline if it ends below the trigger level.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Trigger PLUS
Underlying commodity:	Copper grade A
Amount:	$500,000
Maturity:	Dec. 12, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 110% of any positive commodity return; par if commodity declines but finishes at or above trigger level; 1% loss for every 1% commodity decline if it finishes below trigger level
Initial level:	$8,490.50
Trigger level:	$5,943.35, 70% of initial level
Upside leverage:	110%
Cap:	None
Pricing date:	Dec. 9
Settlement date:	Dec. 14
Agent:	Morgan Stanley & Co. LLC
Fees:	2%
Cusip:	61774FAU6

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