New Issue: Morgan Stanley sells $2.43 million trigger PLUS linked to Dow, Russell

By Wendy Van Sickle

Columbus, Ohio, Nov. 2 – Morgan Stanley Finance LLC priced $2.43 million of 0% trigger Performance Leveraged Upside Securities due Oct. 31, 2023 linked to the lesser performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If each index finishes above its initial level, the payout at maturity will be par plus 4 times the gain of the worse performing index, capped at $1,650 per $1,000 of notes.

If either index falls by up to 40%, the payout will be par.

Otherwise, investors will be fully exposed to any losses of the worse performing index.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Trigger Performance Leveraged Upside Securities
Underlying indexes:	Dow Jones industrial average, Russell 2000 index
Amount:	$2,434,000
Maturity:	Oct. 31, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If each index gains, par plus 400% of return of worse performing index, capped at $1,650 per $1,000 of notes; if either index falls by up to 40%, par; otherwise, 1% loss per 1% decline of worse performing index
Initial levels:	24,688.31 for Dow, 1,483.821 for Russell
Trigger levels:	14,812.986 for Dow, 890.293 for Russell, 60% of initial levels
Pricing date:	Oct. 26
Settlement date:	Oct. 31
Agent:	Morgan Stanley & Co. LLC
Fees:	4.125%
Cusip:	61768DFL4

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