New Issue: Morgan Stanley sells $16.95 million trigger PLUS on basket of indexes, ETF

By Wendy Van Sickle

Columbus, Ohio, May 25 – Morgan Stanley Finance LLC priced $16.95 million of 0% trigger Performance Leveraged Upside Securities due May 26, 2023 linked a weighted basket of three indexes and one exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Morgan Stanley.

The basket consists of the of the S&P 500 index (40% weight), the Russell 2000 index (20% weight), the Euro Stoxx 50 index (20% weight) and the iShares MSCI Emerging Markets ETF (20% weight).

If the basket finishes above its initial level, the payout at maturity will be par of $10 plus 1.4137 times the gain.

Investors will receive par if the basket falls by up to 35% and will be fully exposed to any losses if the basket finishes below its 65% trigger level.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Trigger Performance Leveraged Upside Securities
Basket:	S&P 500 index (40% weight), Russell 2000 index (20% weight), Euro Stoxx 50 index (20% weight) and iShares MSCI Emerging Markets ETF (20% weight)
Amount:	$16.95 million
Maturity:	May 26, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 141.37% of any basket gain; if basket falls by up to 35%, par; otherwise, 1% loss per 1% basket decline
Initial levels:	2,733.29 for S&P, 1,627.609 for Russell, 3,541.82 for Euro Stoxx, $46.49 for iShares MSCI EM
Pricing date:	May 23
Settlement date:	May 29
Agent:	Morgan Stanley & Co. LLC
Fees:	3%
Cusip:	61768C3E5

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