New Issue: Morgan Stanley prices $513,000 dual directional buffered jump notes on S&P, Russell

By Kiku Steinfeld

Chicago, Nov. 21 – Morgan Stanley Finance LLC priced $513,000 of 0% dual directional buffered jump securities due Nov. 5, 2024 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If each index finishes at or above its initial level, the payout at maturity will be par plus 33%.

If either index falls by up to 20%, the payout will be par plus the absolute value of the lesser performing index’s return.

Otherwise, investors will lose 1% for each 1% decline of the lesser performing index beyond 20%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Dual directional buffered jump securities
Underlying indexes:	S&P 500 and Russell 2000
Amount:	$513,000
Maturity:	Nov. 5, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If each index finishes at or above its initial level, par plus 33%; if either index falls by up to 20%, par plus absolute value of the lesser performing index’s return; 1% loss for each 1% decline of the lesser performing index beyond 20%
Initial levels:	3,037.56 for S&P and 1,562.452 for Russell
Buffer levels:	2,430.048 for S&P and 1,249.962 for Russell; 80% of initial levels
Pricing date:	Oct. 31
Settlement date:	Nov. 5
Agent:	Morgan Stanley & Co. LLC
Fees:	1.125%
Cusip:	61769HYR0

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