New Issue: Morgan Stanley sells $4.18 million fixed-income buffered securities on index, ETF

By Sarah Lizee

Olympia, Wash., June 23 – Morgan Stanley Finance LLC priced $4.18 million of 7.5% fixed-income buffered securities due June 18, 2021 linked to the lowest performing of the iShares MSCI EAFE ETF and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

If each asset finishes at or above the 80% buffer level, the payout will be par.

Otherwise, investors will lose 1.25% for each 1% decline of the least performing asset beyond the buffer.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Fixed-income buffered securities
Underlying assets:	iShares MSCI EAFE ETF and Russell 2000
Amount:	$4,175,000
Maturity:	June 18, 2021
Coupon:	7.5%, payable monthly
Price:	Par
Payout at maturity:	Par unless either asset falls by more than 20%, in which case 1.25% loss for each 1% decline of worse-performing asset beyond 20%
Initial levels:	1,452.260 for index, $61.44 for ETF
Buffer levels:	1,161.808 for index, $49.152 for ETF; 80% of initial levels
Pricing date:	June 17
Settlement date:	June 19
Agent:	Morgan Stanley & Co. LLC
Fees:	None
Cusip:	61771BPL2

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