New Issue: Morgan Stanley sells $1.45 million buffered participation notes on indexes

By Sarah Lizee

Olympia, Wash., Jan. 31 – Morgan Stanley Finance LLC priced $1.45 million of 0% buffered participation securities due Jan. 29, 2025 linked to the worse performing of the Dow Jones industrial average, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes above the initial level, the payout at maturity will be par plus the gain of the least-performing index.

If either index falls but not by more than 32%, the payout will be par.

Otherwise, investors will lose 1% for each 1% loss of least-performing index 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:	Dow Jones industrial average, S&P 500 index and Nasdaq-100 index
Amount:	$1,451,000
Maturity:	Jan. 29, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If final level of each is greater than initial index level, par plus of least-performing index return; if least-performing index falls by up to buffer, par; otherwise, 1% loss for each 1% loss least-performing index beyond buffer
Initial levels:	3,295.47 for S&P, 28,989.73 for Dow, 9,141.467 for Nasdaq
Buffer levels:	2,240.920 for S&, 19,713.016 for Dow, 6,216.198 for Nasdaq; 68% of initial levels
Pricing date:	Jan. 24
Settlement date:	Jan. 29
Agent:	Morgan Stanley & Co. LLC
Fees:	3.625%
Cusip:	61770FDR4

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