New Issue: Morgan Stanley prices $1.02 million dual directional buffered jump notes on two indexes

By William Gullotti

Buffalo, N.Y., June 30 – Morgan Stanley Finance LLC priced $1.02 million of 0% dual directional buffered jump securities due June 27, 2024 linked to 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 at or above its initial level, the payout at maturity will be par plus 34.5%.

If the lesser-performing index declines but finishes at or above its downside threshold level, 80% of its initial level, the payout will be par plus the absolute value of the lesser-performing index’s return.

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

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Dual directional buffered jump securities
Underlying indexes:	S&P 500 and Russell 2000
Amount:	$1,021,000
Maturity:	June 27, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If each index finishes at or above initial level, par plus 34.5%; if the worst performer declines but finishes at or above downside threshold, par plus absolute value of lesser-performing index’s return; otherwise, 1% loss for every 1% that lesser-performing index declines beyond 20%
Initial levels:	3,795.73 for S&P, 1,711.673 for Russell
Downside thresholds:	3,036.584 for S&P, 1,369.338 for Russell; 80% of initial levels
Pricing date:	June 23
Settlement date:	June 28
Agent:	Morgan Stanley & Co. LLC
Fees:	0.65%
Cusip:	61774DSZ1

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