New Issue: Morgan Stanley sells $250,000 dual directional buffered PLUS on S&P, Russell

By Sarah Lizee

Olympia, Wash., June 5 – Morgan Stanley Finance LLC priced $250,000 of 0% dual directional buffered Performance Leveraged Upside Securities due June 3, 2022 linked to the worse performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes above its initial level, the payout at maturity will be par plus 1.5 times the gain of the lesser performing index, capped at par plus 23%.

If either index falls but neither falls by more than 15%, the payout will be par plus the absolute value of the return of the lesser performing index.

Otherwise, investors will be exposed to any decline in the lesser performing index beyond the 15% buffer.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Dual directional buffered Performance Leveraged Upside Securities
Underlying indexes:	S&P 500, Russell 2000
Amount:	$250,000
Maturity:	June 3, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If each index gains, par plus 1.5 times the lesser-performing index return capped at par plus 23%; if lesser-performing index falls by up to 15%, par plus absolute value of the return of that index; otherwise, exposure to any decline of lesser-performing index beyond 15%
Initial levels:	3,044.31 for S&P, 1,394.035 for Russell
Buffer levels:	2,587.664 for S&P, 1,184.93 for Russell; 85% of initial levels
Pricing date:	May 29
Settlement date:	June 3
Agent:	Morgan Stanley & Co. LLC
Fees:	0.5%
Cusip:	61771BEG5

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