New Issue: Morgan Stanley sells $3.12 million 4.35% trigger callable yield notes on Russell, Stoxx

By Kiku Steinfeld

Chicago, Jan. 4 – Morgan Stanley Finance LLC priced $3.12 million of 4.35% trigger callable yield notes due March 27, 2023 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes are callable at par of $10 on any coupon payment date after three months.

The payout at maturity will be par unless the least-performing index finishes below its 60% downside threshold level, in which case investors will lose 1% for each 1% decline of the least-performing index from its initial level.

The notes are guaranteed by Morgan Stanley.

UBS Financial Services Inc. and Morgan Stanley & Co. LLC are the agents.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Trigger callable yield notes
Underlying indexes:	Russell 2000 index, Euro Stoxx 50 index
Amount:	$3,120,910
Maturity:	March 27, 2023
Coupon:	4.35% per year, payable monthly
Price:	Par of $10
Payout at maturity:	Par unless least-performing index finishes below downside threshold, in which case 1% loss for each 1% decline of least-performing index from its initial level
Call option:	At par on any monthly coupon date after three months
Initial levels:	2,221.903 for Russell, 4,217.06 for Stoxx
Downside thresholds:	1,333.142 for Russell, 2,530.24 for Stoxx; 60% of initial levels
Pricing date:	Dec. 22
Settlement date:	Dec. 28
Agents:	UBS Financial Services Inc. and Morgan Stanley & Co. LLC
Fees:	1%
Cusip:	61773N601

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