New Issue: Morgan Stanley prices $2.65 million trigger PLUS linked to S&P 500

By Kiku Steinfeld

Chicago, Jan. 3 – Morgan Stanley Finance LLC priced $2.65 million of 0% trigger Performance Leveraged Upside Securities due Dec. 3, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par of $10 plus 111% of the index return. Investors will receive par if the index falls but finishes at or above the 80% trigger level and will lose 1% for every 1% decline if it ends below the trigger level.

The notes are guaranteed by Morgan Stanley.

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

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Trigger Performance Leveraged Upside Securities
Underlying index:	S&P 500 index
Amount:	$2,646,980
Maturity:	Dec. 3, 2027
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 111% of any index gain; par if index declines but finishes at or above trigger level; 1% loss for every 1% index decline if index finishes below trigger level
Initial level:	4,567.00
Trigger level:	3,653.60, 80% of initial level
Pricing date:	Nov. 30
Settlement date:	Dec. 3
Agent:	Morgan Stanley & Co. LLC with Morgan Stanley Wealth Management as selected dealer
Fees:	3.5%
Cusip:	61773G655

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