New Issue: Morgan Stanley sells $11.1 million digital index-linked notes on Russell

By Sarah Lizee

Olympia, Wash., June 5 – Morgan Stanley Finance LLC priced $11.1 million of 0% digital notes due Feb. 18, 2022 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If the final index level is greater than or equal to 80% of the initial level, the payout at maturity will be $1,101 per $1,000 of notes.

Otherwise, investors will lose 1.25% for every 1% that the index declines beyond 20%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Digital notes
Underlying index:	Russell 2000
Amount:	$11.1 million
Maturity:	Feb. 18, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If the final index level is greater than or equal to 80% of the initial level, $1,101 per $1,000 of notes; 1.25% loss for every 1% that the index declines beyond 20%
Initial index level:	1,394.035
Buffer level:	1,115.228, 80% of initial level
Pricing date:	May 29
Settlement date:	June 5
Agent:	Morgan Stanley & Co. LLC
Fees:	1.52%
Cusip:	61771BGS7

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