New Issue: Morgan Stanley sells $2.08 million fixed-income securities on S&P, Dow

By Wendy Van Sickle

Columbus, Ohio, Oct. 20 – Morgan Stanley Finance LLC priced $2.08 million of 5.5% fixed-income securities due Oct. 5, 2023 linked to the lowest performing of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The payout at maturity will be par plus the final coupon unless either index finishes below its 80% downside threshold, in which case investors will be exposed to the decline of the least-performing index from its initial level.

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 securities
Underlying indexes:	S&P 500 index and Dow Jones industrial average
Amount:	$2.08 million
Maturity:	Oct. 5, 2023
Coupon:	5.5%, payable quarterly
Price:	Par
Payout at maturity:	Par plus coupon unless either index finishes below its downside threshold, in which case 1% loss for each 1% decline of worse-performing index from its initial level
Initial levels:	4,357.04 for S&P and 34,326.46 for Dow
Downside threshold levels:	3,485.632 for S&P and 27,461.168 for Dow; 80% of initial levels
Pricing date:	Oct. 1
Settlement date:	Oct. 6
Agent:	Morgan Stanley & Co. LLC
Fees:	None
Cusip:	61773FR54

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