New Issue: Morgan Stanley prices $3.13 million buffer gears linked to S&P 500

By Sarah Lizee

Olympia, Wash., Nov. 15 – Morgan Stanley Finance LLC priced $3.13 million of 0% buffer gears due Nov. 13, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is greater than zero, the payout at maturity will be par of $10 plus 1.36 times the index return. Investors will receive par if the index declines by 15% or less and will lose 1% for every 1% that the index declines beyond 15%.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the underwriter. UBS Financial Services Inc. is acting as dealer.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffer gears
Underlying index:	S&P 500
Amount:	$3,125,000
Maturity:	Nov. 13, 2026
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index return is greater than zero, par plus 1.36 times index return; par if index declines by 15% or less; 1% loss for every 1% that index declines beyond 15%
Initial level:	3,085.18
Downside threshold:	2,622.40, or 85% of initial level
Pricing date:	Nov. 8
Settlement date:	Nov. 13
Underwriter:	Morgan Stanley & Co. LLC
Dealer:	UBS Financial Services Inc.
Fees:	3%
Cusip:	61770C772

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