New Issue: Morgan Stanley prices $843,000 buffered PLUS tied to Russell, S&P

By Sarah Lizee

Olympia, Wash., April 23 – Morgan Stanley Finance LLC priced $843,000 of 0% buffered Performance Leveraged Upside Securities due April 23, 2025 linked to the worse performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If each index finishes above the initial level, the payout at maturity will be par plus 105% of the gain of the worse performing index.

If either index falls by up to 20%, the payout will be par.

Otherwise, investors will be exposed to any losses beyond the buffer.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered Performance Leveraged Upside Securities
Underlying index:	S&P 500, Russell 2000
Amount:	$843,000
Maturity:	April 23, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If each index gains, par plus 105% of return of worse performing index; if either index falls by up to 15%, par; otherwise, exposure to losses of worse performing index beyond 15%
Initial levels:	1,229.098 for Russell, 2,874.56 for S&P
Buffer levels:	983.278 for Russell, 2,299.648 for S&P, 80% of initial levels
Pricing date:	April 17
Settlement date:	April 22
Agent:	Morgan Stanley & Co. LLC
Fees:	4.25%
Cusip:	61770FZL3

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