New Issue: Morgan Stanley prices $862,000 buffered participation notes tied to S&P 500

By Wendy Van Sickle

Columbus, Ohio, July 12 – Morgan Stanley Finance LLC priced $862,000 of 0% buffered participation securities due Dec. 31, 2020 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.

The payout at maturity will be par plus any index gain, up to a maximum payout of par plus 20.5%.

Investors will receive par if the index falls by up to 20% and will be exposed to any losses beyond the buffer.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered participation securities
Underlying index:	S&P 500
Amount:	$862,000
Maturity:	Dec. 31, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain, up to a maximum payout of par plus 20.5%; if index falls by up to 20%, par; otherwise, 1% loss per 1% decline beyond 20%
Initial level:	2,723.06
Pricing date:	June 26
Settlement date:	June 29
Agent:	Morgan Stanley & Co. LLC
Fees:	2.25%
Cusip:	61768C3G0

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