New Issue: Morgan Stanley sells $768,000 buffered PLUS linked to S&P 500

By Sarah Lizee

Olympia, Wash., March 28 – Morgan Stanley Finance LLC priced $250,000 of 0% buffered Performance Leveraged Upside Securities due March 31, 2021 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

The payout at maturity will be par plus 200% of any index gain, capped at par plus 14%.

Investors will receive par if the index falls by up to 15% and will lose 1% for each 1% decline beyond 15%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered Performance Leveraged Upside Securities
Underlying index:	S&P 500 index
Amount:	$768,000
Maturity:	March 31, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 200% of any index gain, capped at par plus 14%; par if the index falls by up to 15%; 1% loss for each 1% decline beyond 15%
Initial level:	2,818.46
Buffer level:	2,395.691, 85% of initial level
Pricing date:	March 26
Settlement date:	March 29
Agent:	Morgan Stanley & Co. LLC
Fees:	2%
Cusip:	61768DU52

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