New Issue: Morgan Stanley prices $1.4 million buffered PLUS tied to Russell, S&P

By Wendy Van Sickle

Columbus, Ohio, April 28 – Morgan Stanley Finance LLC priced $1.4 million of 0% buffered Performance Leveraged Upside Securities due May 1, 2024 linked to the worse performing of the S&P 500 index 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 the initial level, the payout at maturity will be par plus 115% of the gain of the worse performing index.

If either index falls by up to 20%, the payout will be par.

Otherwise, investors will be exposed to any losses beyond the buffer.

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, Russell 2000
Amount:	$1.4 million
Maturity:	May 1, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If each index gains, par plus 115% of return of worse performing index; if either index falls by up to 20%, par; otherwise, exposure to losses of worse performing index beyond 20%
Initial levels:	1,214.065 for Russell, 2,797.8 for S&P
Buffer levels:	971.252 for Russell, 2,238.24 for S&P, 80% of initial levels
Pricing date:	April 23
Settlement date:	April 28
Agent:	Morgan Stanley & Co. LLC
Fees:	0.5%
Cusip:	61770FS72

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