New Issue: Morgan Stanley sells $12.53 million trigger callable yield notes on S&P 500, Russell 2000

By Wendy Van Sickle

Columbus, Ohio, May 10 – Morgan Stanley Finance LLC priced $12.53 million of 6.3% trigger callable yield notes due Aug. 10, 2022 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes are callable at par on any coupon payment date after three months.

The payout at maturity will be par unless the least-performing index finishes below its 60% downside threshold level, in which case investors will lose 1% for each 1% decline of the least-performing index.

The notes are guaranteed by Morgan Stanley.

UBS Financial Services Inc. and Morgan Stanley & Co. Inc. are the agents.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Trigger callable yield notes
Underlying indexes:	S&P 500 index and Russell 2000 index
Amount:	$12,529,000
Maturity:	Aug. 10, 2022
Coupon:	6.3% per year, payable monthly
Price:	Par
Payout at maturity:	Par unless least-performing index finishes below downside threshold, in which case 1% loss for each 1% decline of least-performing index
Call option:	At par on any coupon date after three months
Initial level:	4,167.59 for S&P, 2,241.366 for Russell
Downside threshold:	2,500.55 for S&P, 1,344.82 for Russell; 60% of initial level
Pricing date:	May 5
Settlement date:	May 10
Agents:	UBS Financial Services Inc. and Morgan Stanley & Co. Inc.
Fees:	0%
Cusip:	61772X568

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