New Issue: Morgan Stanley sells $500,000 trigger PLUS tied to S&P 500, Russell

By Susanna Moon

Chicago, Feb. 8 – Morgan Stanley Finance LLC priced $500,000 of 0% trigger Performance Leveraged Upside Securities due Jan. 31, 2023 linked to the lesser performing of the S&P 500 index and the Russell 2000 index according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes at or above its initial level, the payout at maturity will be par plus 1.5 times the gain of the worse performing index, up to a maximum payment of $1,667.50 per $1,000 principal amount.

Investors will receive par if either index falls but by no more than 50% and will be fully exposed to any losses of the worse performing index if it finishes below its 50% trigger level.

The notes will be guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Trigger Performance Leveraged Upside Securities
Underlying index:	S&P 500, Russell 2000
Amount:	$500,000
Maturity:	Jan. 31, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If each index gains, par plus 150% of return of worse performing index, capped at %; if either index falls by up to 50%, par; otherwise, 1% loss per 1% decline of worse performing index
Initial levels:	2,872.87 for S&P and 1,608.058 for Russell
Trigger levels:	2,011.009 for S&P and 1,125.641 for Russell; 70% the initial levels
Pricing date:	Jan. 26
Settlement date:	Jan. 31
Agent:	Morgan Stanley & Co. LLC
Fees:	4%
Cusip:	61768CXF9

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