New Issue: Morgan Stanley prices $1 million buffered participation securities tied to S&P

Chicago, April 7 – Morgan Stanley Finance LLC priced $1 million of 0% buffered participation securities due March 29, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

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

Investors will receive par if the index declines by up to 15% and will lose 1% for every 1% index decline beyond 15%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered participation securities
Underlying index:	S&P 500
Amount:	$1,000,000
Maturity:	March 29, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain; par if index falls by up to buffer; 1% loss for every 1% index decline beyond buffer
Initial index level:	2,304.92
Buffer level:	1,959.182, 85% of initial level
Pricing date:	March 20
Settlement date:	March 25
Agent:	Morgan Stanley & Co. LLC
Fees:	0.6%
Cusip:	61770FVG8

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