New Issue: Morgan Stanley prices $995,000 trigger jump notes on S&P, Dow industrials

By Wendy Van Sickle

Columbus, Ohio, May 1 – Morgan Stanley Finance LLC priced $995,000 of 0% trigger jump securities due April 28, 2023 linked to the worst performing of the S&P 500 index and the Dow Jones Industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If each index finishes at or above its initial level, the payout at maturity will be par plus the upside payment of 50.5%.

The payout will be par if either index declines but both end at or above their downside thresholds, 70% of their initial values.

Otherwise, investors will be fully exposed to the losses of the worse performing index.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Trigger jump securities
Underlying indexes:	S&P 500 index, Dow Jones industrial average
Amount:	$995,000
Maturity:	April 28, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If each index ends at or above downside threshold, par plus 50.5%; if any index falls but not below downside threshold, par; otherwise, par plus return of worst performing index
Initial levels:	2,639.4 for S&P, 24,083.83 for Dow
Triggers:	1,847.58 for S&P, 16858.681 for Dow; 70% of initial levels
Pricing date:	April 25
Settlement date:	April 28
Agent:	Morgan Stanley & Co. LLC
Fees:	3.5%
Cusip:	61768CT80

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