New Issue: Morgan Stanley prices $7.61 million buffered securities tied to S&P 500

By Taylor Fox

New York, Feb. 16 – Morgan Stanley Finance LLC priced $7.61 million 0% buffered securities due Jan. 26, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Morgan Stanley.

The final index level finishes above its initial level, investors will receive par plus 1.03 times the return of the index.

If the final index level is at least equal to the 90% buffer level, the payout will be par. Investors will lose 1% for every 1% that the index declines beyond the 10% buffer level.

Morgan Stanley & Co. Inc. is the agent.

Issuer:	Morgan Stanley Finance LLC
Issue:	Buffered securities
Underlying index:	S&P 500
Amount:	$7,605,000
Maturity:	Jan. 26, 2027
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index finishes above initial level, par plus 1.03 times return of index; par if index finishes at or above buffer level; otherwise, 1% loss for every 1% drop beyond 10% buffer
Initial level:	3,853.07
Buffer level:	3,467.763, 90% of initial level
Pricing date:	Jan. 21
Settlement date:	Jan. 26
Agents:	Morgan Stanley & Co. LLC
Fees:	2.33%
Cusip:	61771J677

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