New Issue: Morgan Stanley sells $424,000 trigger PLUS on S&P, Russell

By Sarah Lizee

Olympia, Wash., March 29 – Morgan Stanley Finance LLC priced $424,000 of 0% trigger Performance Leveraged Upside Securities due April 1, 2024 linked the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Morgan Stanley.

If the lesser performing index finishes above its initial level, the payout at maturity will be par plus 132% of the gain.

Investors will receive par if the lesser performing index falls by up to 50% and will be fully exposed to any losses if the lesser performing index finishes below its 50% trigger level.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Trigger Performance Leveraged Upside Securities
Underlying indexes:	Russell 2000 index, S&P 500 index
Amount:	$424,000
Maturity:	April 1, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 132% of any lesser performing index gain; if lesser performing index falls by up to 50%, par; otherwise, 1% loss per 1% lesser performing index decline
Initial levels:	1,528.166 for Russell, 2,818.46 for S&P
Trigger levels:	764.083 for Russell, 1,409.23 for S&P, 50% of initial levels
Pricing date:	March 26
Settlement date:	March 29
Agent:	Morgan Stanley & Co. LLC
Fees:	4.125%
Cusip:	61768DW84

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