New Issue: Morgan Stanley prices $1 million range accrual notes tied to S&P, Russell, Libor

By Wendy Van Sickle

Columbus, Ohio, July 27 – Morgan Stanley Finance LLC priced $1 million of range accrual notes due July 28, 2032 linked to the Russell 2000 index, the S&P 500 index and Libor, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Morgan Stanley.

Interest will be payable quarterly.

The interest rate will be Libor plus 225 basis points per year multiplied by the proportion of days on which each index closes above its 65% reference level. The rate will be capped at 7% and have a floor of 0%.

The payout at maturity will be par.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Range accrual notes
Underlying indexes:	S&P 500, Russell 2000
Amount:	$1 million
Maturity:	July 28, 2032
Coupon:	Libor plus 225 basis points multiplied by proportion of days each index closes above reference level, with a cap of 7% and a floor of 0%; payable quarterly
Price:	Par
Payout at maturity:	Par
Initial levels:	2,477.13 for S&P, 1,450.387 for Russell
Reference levels:	1,610.135 for S&P, 942.752 for Russell, 65% of initial level
Pricing date:	July 25
Settlement date:	July 28
Agent:	Morgan Stanley & Co. LLC
Fees:	2%
Cusip:	61766YBU4

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