New Issue: Morgan Stanley prices $1.94 million buffered PLUS tied to S&P 500

By Wendy Van Sickle

Columbus, Ohio, Dec. 12 – Morgan Stanley Finance LLC priced $1.94 million of 0% buffered Performance Leveraged Upside Securities due June 11, 2020 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If the index finishes above its initial level, the payout at maturity will be par plus 150% of the return.

Investors will receive par if the index falls by up to 20% and will lose 1.25% for each 1% decline beyond the buffer.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered Performance Leveraged Upside Securities
Underlying indexes:	S&P 500
Amount:	$1,935,000
Maturity:	June 11, 2020
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 150% of any index gain; if index falls by up 20%, par; otherwise, 1.25% loss per 1% decline beyond 20%
Initial level:	2,651.50
Buffer level:	2,121.20, 80% of initial level
Pricing date:	Dec. 8
Settlement date:	Dec. 13
Agent:	Morgan Stanley & Co. LLC
Fees:	0%
Cusip:	61768CWJ2

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