New Issue: Morgan Stanley prices $4.13 million dual directional trigger jump notes on S&P, Russell

By Sarah Lizee

Olympia, Wash., Sept. 13 – Morgan Stanley Finance LLC priced $4.13 million of 0% dual directional trigger jump securities due Sept. 11, 2024 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If the least performing index finishes at or above its initial index level, the payout at maturity will be par plus 35.5%.

If the final index level of the lesser performing index is less than the initial index level but greater than or equal to the fixed payment threshold value, 85% of the initial index level, the payout will be par plus 12%.

If the final index level of the lesser performing index is less than the fixed payment threshold value but greater than or equal to the downside threshold value, 55% of the initial index level, the payout will be par plus the absolute value of the return of the lesser performing index.

If the lesser performing index finishes below the downside threshold value, investors will lose 1% for every 1% that the least performing index declines from its initial level.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Dual directional trigger jump securities
Underlying indexes:	S&P 500 and Russell 2000
Amount:	$4,134,000
Maturity:	Sept. 11, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If the least performing index finishes at or above its initial index level, par plus 35.5%; if the final index level of the lesser performing index is less than the initial index level but greater than or equal to the fixed payment threshold value, par plus 12%; if the final index level of the lesser performing index is less than the fixed payment threshold value but greater than or equal to the downside threshold value, par plus the absolute value of the return of the lesser performing index; otherwise, 1% loss for every 1% that the least performing index declines from its initial level
Initial levels:	2,978.71 for S&P, 1,505.168 for Russell
Fixed payment threshold values:	2,531.904 for S&P, 1,279.393 for Russell, 85% of initial levels
Downside threshold values:	1,638.291 for S&P, 827.842 for Russell; 55% of initial levels
Pricing date:	Sept. 6
Settlement date:	Sept. 11
Agent:	Morgan Stanley & Co. LLC
Fees:	None
Cusip:	61769HUH6

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