New Issue: Morgan Stanley sells $19.09 million buffered digital notes on Brent Crude Oil

By Sarah Lizee

Olympia, Wash., May 28 – Morgan Stanley Finance LLC priced $19.09 million of 0% buffered digital notes due Dec. 1, 2020 linked to the S&P GSCI Brent Crude Oil Index Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If the index return is greater than or equal to negative 20%, the payout at maturity will be $1,137.70 per $1,000 principal amount.

Otherwise, investors will lose 1.25% for each 1% that the index declines beyond 20%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered digital notes
Underlying index:	S&P GSCI Brent Crude Oil Index Excess Return
Amount:	$19,085,000
Maturity:	Dec. 1, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is greater than or equal to negative 20%, maximum settlement amount of $1,137.70 per $1,000 of notes; otherwise, 1.25% loss for each 1% that index declines beyond 20%
Initial level:	416.4681
Threshold level:	333.17448, 80% of initial level
Pricing date:	May 20
Settlement date:	May 28
Agent:	Morgan Stanley & Co. LLC
Fees:	1.33%
Cusip:	61766YDT5

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