New Issue: Morgan Stanley sells $4.77 million fixed-income buffered securities on S&P, Nasdaq

By Taylor Fox

New York, Nov. 18 – Morgan Stanley Finance LLC priced $4.77 million of 7.45% fixed-income buffered autocallable securities due May 3, 2022 linked to the lowest performing of the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable semiannually.

If each index finishes at or above the 80% buffer level, the payout will be par.

Otherwise, investors will lose 1.25% for each 1% decline of the least performing index beyond the buffer.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Fixed-income buffered autocallable securities
Underlying indexes:	S&P 500 and Nasdaq-100
Amount:	$4,774,000
Maturity:	May 3, 2022
Coupon:	7.45%, payable semiannually
Price:	Par
Payout at maturity:	Par unless either index falls by more than 20%, in which case 1.25% loss for each 1% decline of worse-performing index beyond 20%
Initial levels:	3,271.03 for S&P and 11,142.76 for Nasdaq
Buffer levels:	2,616.824 for S&P, 8,914.208 for Nasdaq; 80% of initial levels
Pricing date:	Oct. 29
Settlement date:	Nov. 3
Agent:	Morgan Stanley & Co. LLC
Fees:	0.05%
Cusip:	61771EGK8

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