New Issue: Morgan Stanley prices $1.42 million trigger participation notes on Russell

By Kiku Steinfeld

Chicago, April 18 – Morgan Stanley Finance LLC priced $1.42 million of 0% trigger participation securities due Sept. 30, 2024 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus the index return, capped at 51.09%. Investors will receive par if the index falls but finishes at or above the 70% trigger level. If the index finishes below the trigger level, investors will lose 1% for every 1% that it declines.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Trigger participation securities
Underlying index:	Russell 2000 index
Amount:	$1.42 million
Maturity:	Sept. 30, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus any index gain, subject to maximum return of 51.09%; capped at par if index declines but finishes at or above trigger level; 1% loss for every 1% index decline if index finishes below trigger level
Initial level:	2,281.003
Trigger level:	1,596.702, 70% of initial level
Cap:	51.09%
Pricing date:	Sept. 27, 2021
Settlement date:	Sept. 30, 2021
Agent:	Morgan Stanley & Co. LLC
Fees:	0%
Cusip:	61773FN41

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