New Issue: Morgan Stanley prices $50 million review notes linked to S&P, Russell

By Wendy Van Sickle

Columbus, Ohio, June 16 – Morgan Stanley Finance LLC priced $50 million of 0% review notes due June 17, 2027 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a premium of 15.25% per year if each index closes at or above its initial level on any of the first eight semiannual review dates after one year or above 90% of its initial level on the final review date.

If the notes are not called investors will be fully exposed to the decline of the worst performer from its initial level.

The notes are guaranteed by Morgan Stanley.

J.P. Morgan Securities LLC is the placement agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Review notes
Underlying indexes:	S&P 500 index, Russell 2000 index
Amount:	$50 million
Maturity:	June 17, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	Full exposure to worst performer’s decline from initial level
Call:	Automatically at par plus 15.25% per year if each index closes at or above initial level on any of the first eight semiannual review dates after one year above 90% of its initial level on the final review date
Initial levels:	3,749.63 for S&P, 1,714.595 for Russell
Knock-out levels:	3,374.667 for S&P, 1,543.136 for Russell; 90% of initial level
Pricing date:	June 14
Settlement date:	June 16
Placement agent:	J.P. Morgan Securities LLC
Fees:	0.5%
Cusip:	61774DQV2

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