New Issue: Morgan Stanley sells $19.05 million capped gears linked to S&P 500

By Wendy Van Sickle

Columbus, Ohio, May 11 – Morgan Stanley Finance LLC priced $19.05 million of 0% capped gears due June 30, 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.

If the index’s return is positive, the payout at maturity will be par of $10 plus 300% of the index’s return, subject to a maximum payout of par plus 20.65%. If the index’s return is negative, investors will be exposed to the decline.

Morgan Stanley & Co. LLC is the agent. UBS Financial Services Inc. is acting as dealer.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Capped gears
Underlying index:	S&P 500
Amount:	$19.05 million
Maturity:	June 30, 2021
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index’s return is positive, par plus 300% of index’s return, capped at par plus 20.65%; if index’s return is negative, exposure to decline
Initial level:	2,881.19
Pricing date:	May 7
Settlement date:	May 12
Agent:	Morgan Stanley & Co. LLC
Dealer:	UBS Financial Services Inc.
Fees:	2%
Cusip:	61769P693

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