New Issue: Morgan Stanley sells $1.81 million market-linked leveraged participation notes on S&P

By William Gullotti

Buffalo, N.Y., April 19 – Morgan Stanley Finance LLC priced $1.81 million of 0% market-linked securities – leveraged upside participation and contingent downside due April 5, 2033 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index’s final level is greater than its initial level, payout at maturity will be par plus 150% of the index’s return.

Investors will receive par if the index falls by up to 20%. Otherwise, investors will lose 1% for every 1% decline from its initial level.

Wells Fargo Securities, LLC and Morgan Stanley & Co. LLC are the agents.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Market-linked securities – leveraged upside participation and contingent downside
Underlying index:	S&P 500 index
Amount:	$1,807,000
Maturity:	April 5, 2033
Coupon:	0%
Price:	Par
Payout at maturity:	If the index finishes at or above initial level, par plus 150% of the return; par if the index falls by up to 20%; otherwise, full exposure to decline from initial level
Initial level:	4,109.31
Threshold level:	3,287.448; 80% of initial level
Pricing date:	March 31
Settlement date:	April 5
Agents:	Wells Fargo Securities LLC and Morgan Stanley & Co. LLC
Fees:	4.37%
Cusip:	61774T7B2

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