New Issue: Morgan Stanley prices $7.54 million trigger performance notes on S&P 500

By Susanna Moon

Chicago, May 29 – Morgan Stanley priced $7.54 million of 0% trigger performance securities due May 29, 2020 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 of 134.2% of any index gain.

If the index finishes at or above the trigger level, 75% of the initial level, the payout will be par.

Otherwise, investors will be fully exposed to any losses.

Morgan Stanley & Co. LLC is the underwriter. UBS Financial Services Inc. is the agent.

Issuer:	Morgan Stanley
Issue:	Trigger performance securities
Underlying index:	S&P 500
Amount:	$7,541,060
Maturity:	May 29, 2020
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 134.2% of any index gain; if falls by up to 25%, par; otherwise, full exposure to any losses
Initial level:	2,104.20
Trigger level:	1,578.15, 75% of initial level
Pricing date:	May 26
Settlement date:	May 29
Underwriter:	Morgan Stanley & Co. LLC
Agent:	UBS Financial Services Inc.
Fees:	3/5%
Cusip:	61764V885

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