New Issue: Morgan Stanley prices $1.22 million leveraged buffered notes on Russell

By Susanna Moon

Chicago, Feb. 4 – Morgan Stanley Finance LLC priced $1.22 million of 0% leveraged buffered notes due Jan. 26, 2021 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 3 times any index gain, up to a maximum settlement amount of $1,208.50 for each $1,000 principal amount.

Investors will receive par if the index falls by up to 10% and will be fully exposed to any losses if it falls beyond the geared buffer.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Leveraged buffered notes
Underlying index:	Russell 2000
Amount:	$1,222,000
Maturity:	Jan. 26, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 300% of any index gain, capped at 20.85%; par if index falls by up to 10%; 1.1111% loss for each 1% decline beyond 10%
Initial level:	1,457.454
Barrier level:	1,311.7086, 90% of initial level
Pricing date:	Jan. 22
Settlement date:	Jan. 29
Agent:	Morgan Stanley & Co. LLC
Fees:	2%
Cusip:	61768DZC2

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