New Issue: Morgan Stanley sells $4.74 million buffered PLUS linked to S&P 500

By Kiku Steinfeld

Chicago, Nov. 10 – Morgan Stanley Finance LLC priced $4.74 million of 0% buffered Performance Leveraged Upside Securities due May 3, 2023 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 return is positive, the payout at maturity will be par of $10 plus 200% of the index gain, capped at par plus 15.5%. Investors will receive par if the index finishes flat or declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.

Morgan Stanley & Co. LLC is the agent. Morgan Stanley Wealth Management is a selected dealer.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered Performance Leveraged Upside Securities
Underlying index:	S&P 500
Amount:	$4,737,980
Maturity:	May 3, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 200% of any index gain, capped at par plus 15.5%; par if index declines by 10% or less; 1% loss for every 1% index decline beyond 10%
Initial level:	3,269.96
Buffer level:	2,942.964, 90% of initial level
Pricing date:	Oct. 30
Settlement date:	Nov. 4
Agent:	Morgan Stanley & Co. LLC
Selected dealer:	Morgan Stanley Wealth Management
Fees:	3%
Cusip:	61771D746

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