New Issue: Morgan Stanley prices $504,000 Buffered PLUS linked to Russell, S&P

By Kiku Steinfeld

Chicago, Dec. 15 – Morgan Stanley Finance LLC priced $504,000 of 0% Buffered PLUS due April 22, 2027 linked to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the return of the worst performing index is positive, the payout at maturity will be par plus 135% of the return of that index. Investors will receive par if the worst performing index declines by 15% or less and will lose 1% for every 1% that the worst performing index declines beyond 15%.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered PLUS
Underlying indexes:	Russell 2000 index and S&P 500 index
Amount:	$504,000
Maturity:	April 22, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	If return of worst performing index is positive, par plus 135% of that index's return; par if worst performing index declines by 15% or less; 1% loss for every 1% that worst performing index declines beyond 15%
Initial levels:	1,990.134 for Russell, 4,391.69 for S&P
Buffer level:	1,691.614 for Russell, 3,732.937 for S&P, 85% of initial level
Upside leverage:	135%
Cap:	None
Pricing date:	April 18
Settlement date:	April 21
Agent:	Morgan Stanley & Co. LLC
Fees:	0.5%
Cusip:	61773QQ93

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