New Issue: Morgan Stanley sells $6.88 million buffered digital notes on S&P 500

By Wendy Van Sickle

Columbus, Ohio, June 3 – Morgan Stanley Finance LLC priced $6.88 million of 0% buffered digital notes due July 15, 2020 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 index return is greater than or equal to negative 11.25%, the payout at maturity will be $1,067.80 per $1,000 principal amount.

Otherwise, investors will lose 1.1268% for each 1% that the index declines beyond 11.25%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered digital notes
Underlying index:	S&P 500
Amount:	$6.88 million
Maturity:	July 15, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is greater than or equal to negative 11.25%, maximum settlement amount of $1,067.80 per $1,000 of notes; otherwise, 1.1268% loss for each 1% that index declines beyond 11.25%
Initial level:	2,802.39
Threshold level:	2,487.121125, 88.75% of initial level
Pricing date:	May 28
Settlement date:	June 4
Agent:	Morgan Stanley & Co. LLC
Fees:	0.99%
Cusip:	61769HCU7

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