New Issue: Morgan Stanley prices $1.5 million buffered participation securities on basket

By Sarah Lizee

Olympia, Wash., May 16 – Morgan Stanley Finance LLC priced $1.5 million of 0% buffered participation securities due Nov. 18, 2021 linked to a basket containing the S&P 500 index with a 50% weight and the Russell 2000 index with a 50% weight, according to a 424B2 with the Securities and Exchange Commission.

The notes will be guaranteed by Morgan Stanley.

The payout at maturity will be par plus any basket gain.

Investors will receive par if the basket falls by up to 10% and will lose 1% for every 1% decline beyond the 10% buffer.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered participation securities
Basket components:	S&P 500 with 50% weight, Russell 2000 with 50% weight
Amount:	$1,502,000
Maturity:	Nov. 18, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any basket gain; par if the final basket level is at least 90% of the initial level; otherwise, investors will be exposed to losses beyond the 10% buffer
Initial index levels:	2,834.41 for S&P, 1,543.058 for Russell
Pricing date:	May 14
Settlement date:	May 17
Agent:	Morgan Stanley & Co. LLC
Fees:	0.8%
Cusip:	61769HBX2

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