New Issue: Morgan Stanley prices $1.15 million trigger PLUS with no cap tied to indexes

By Wendy Van Sickle

Columbus, Ohio, July 28 – Morgan Stanley Finance LLC priced $1.15 million of 0% trigger Performance Leveraged Upside Securities due July 28, 2022 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Morgan Stanley.

If each index finishes at or above its initial level, the payout at maturity will be par of $10 plus 160% of the gain of the worse performing index.

Investors will receive par if either index falls but by no more than 35% and will be fully exposed to any losses of the worse performing index if it finishes below the 65% trigger level.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Trigger Performance Leveraged Upside Securities
Underlying index:	S&P 500, Russell 2000
Amount:	$1.15 million
Maturity:	July 28, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If final level of each is greater than initial index level, par plus 160% of lesser-performing index return; if lesser-performing index falls by up to trigger level, par; otherwise, full exposure to loss of lesser-performing index
Initial index levels:	2,477.13 for S&P, 1,450.387for Russell
Trigger levels:	1,610.135 for S&P, 942.752 for Russell, 65% of initial levels
Pricing date:	June 27
Settlement date:	June 30
Agent:	Morgan Stanley & Co. LLC
Fees:	3.35%
Cusip:	61768CMW4

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