New Issue: Morgan Stanley prices $1.1 million trigger PLUS linked to S&P 500

By Jennifer Chiou

New York, Nov. 26 - Morgan Stanley priced $1,095,000 of 0% trigger Performance Leveraged Upside Securities due Nov. 27, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 182% of any index gain.

Investors will receive par if the index falls by up to 50% and will be fully exposed to the decline if the index falls to or below the 50% trigger level.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley
Issue:	Trigger Performance Leveraged Upside Securities
Underlying index:	S&P 500
Amount:	$1,095,000
Maturity:	Nov. 27, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 182% of any index gain; par if index falls by less than 50%; full exposure to losses if index drops to or below trigger level
Initial level:	1,804.76
Trigger level:	902.38, 50% of initial level
Pricing date:	Nov. 22
Settlement date:	Nov. 27
Agent:	Morgan Stanley & Co. LLC
Fees:	3.5%
Cusip:	61761JMP1

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