New Issue: Morgan Stanley prices $1.4 million dual direction trigger PLUS tied to S&P, Russell

By Susanna Moon

Chicago, Dec. 6 – Morgan Stanley Finance LLC priced $1.4 million of 0% dual directional trigger Performance Leveraged Upside Securities due Nov. 20, 2023 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.

If each index finishes above its initial level, the payout at maturity will be par plus 116.25% of the gain of the worse performing index.

If either index falls by up to 40%, the payout will be par plus the absolute value of the index return of the worse performing index.

Otherwise, investors will be fully exposed to any losses of the worse performing index.

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 trigger Performance Leveraged Upside Securities
Underlying indexes:	Russell 2000 index, S&P 500 index
Amount:	$1.4 million
Maturity:	Nov. 20, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If each index gains, par plus 116.25% of return of worse performing index; if either index falls by up to 40%, par plus absolute return of worse performing index; otherwise, 1% loss per 1% decline of worse performing index
Initial levels:	2,730.20 for S&P, 1,524.122 for Russell
Trigger levels:	1,638.12 for S&P, 914.473 for Russell, 60% of initial levels
Pricing date:	Nov. 15
Settlement date:	Nov. 20
Agent:	Morgan Stanley & Co. LLC
Fees:	3.25%
Cusip:	61768DRM9

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