New Issue: Morgan Stanley sells $3.15 million trigger gears on S&P, Russell

By William Gullotti

Buffalo, N.Y., July 1 – Morgan Stanley Finance LLC priced $3.15 million of 0% trigger gears due June 29, 2029 linked to the performance of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

The payout at maturity will be par of $10 plus 1.675 times the gain of the least performing index.

Investors will receive par if the least performing index declines by up to 25%. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.

Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as placement agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Trigger gears
Underlying indexes:	S&P 500 index, Russell 2000 index
Amount:	$3,153,000
Maturity:	June 29, 2029
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 1.675 times the gain of the least performing index; par if least performing index declines by 25% or less; otherwise lose 1% for every 1% decline of the worst performer from its initial level
Initial levels:	1,771.742 for Russell, 3,900.11 for S&P
Downside thresholds:	1,328.807 for Russell, 2,925.08 for S&P; 75% of initial level
Pricing date:	June 27
Settlement date:	June 30
Agent:	Morgan Stanley & Co. LLC
Dealer:	UBS Financial Services Inc.
Fees:	3.5%
Cusip:	61774B507

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