New Issue: Morgan Stanley sells $2.7 million trigger participation securities on Dow, S&P, Nasdaq

By Taylor Fox

New York, Nov. 16 – Morgan Stanley Finance LLC priced $2.7 million of 0% trigger participation securities due Oct. 30, 2025 linked to the least performing of the Nasdaq-100 index, the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

The payout at maturity will be par plus any gain of the least-performing index.

If the least-performing index falls by up to 47.5%, the payout will be par.

Investors will be fully exposed to the losses of the least-performing index if it finishes below its 52.5% trigger level.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Trigger participation securities
Underlying indexes:	Nasdaq-100 index, Dow Jones industrial average, S&P 500
Amount:	$2,699,000
Maturity:	Oct. 30, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If least-performing index’s return is positive, par plus least-performing index’s return; par if least-performing index falls but finishes at or above trigger level; full exposure to losses of least-performing index if it finishes below trigger level
Initial levels:	11,598.95 for Nasdaq, 3,390.68 for S&P, 27,463.19 for Dow
Trigger levels:	6,089.449 for Nasdaq, 1,780.107 for S&P, 14,418.175 for Dow; 52.5% of initial levels
Pricing date:	Oct. 27
Settlement date:	Oct. 30
Agent:	Morgan Stanley & Co. LLC
Fees:	3.5%
Cusip:	61771EDV7

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