New Issue: Morgan Stanley sells $6.55 million contingent income autocallables on ETF, indexes

By Marisa Wong

Morgantown, W.Va., March 13 – Morgan Stanley Finance LLC priced $6.55 million of contingent income autocallable securities due March 4, 2021 linked to the least performing of the Russell 2000 index, the Nasdaq-100 index and the SPDR Dow Jones Industrial Average exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

Each quarter, the notes will pay a contingent coupon at the rate of 9.75% per year if each underlying closes at or above its coupon threshold level, 80% of its initial level, on the determination date for that quarter.

The notes will be automatically called at par if each underlying closes at or above its initial level on any quarterly determination date.

The payout at maturity will be par unless any underlying finishes below its 80% downside threshold, in which case investors will lose 1% for every 1% that the least performing asset declines from its initial level.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Contingent income autocallable securities
Underlying assets:	Russell 2000 index, Nasdaq-100 index and SPDR Dow Jones Industrial Average ETF
Amount:	$6,548,000
Maturity:	March 4, 2021
Coupon:	9.75% per year, payable each quarter that each underlying closes at or above coupon threshold on determination date for that quarter
Price:	Par
Payout at maturity:	Par unless any underlying finishes below its downside threshold, in which case 1% loss for every 1% that least performer declines from its initial level
Call:	Automatically at par if each underlying closes at or above initial level on any quarterly determination date
Initial levels:	1,575.549 for Russell, 7,097.525 for Nasdaq and $259.28 for Dow ETF
Coupon thresholds:	1,260.439 for Russell, 5,678.020 for Nasdaq and $207.424 for Dow ETF; 80% of initial levels
Downside thresholds:	1,260.439 for Russell, 5,678.020 for Nasdaq and $207.424 for Dow ETF; 80% of initial levels
Pricing date:	Feb. 28
Settlement date:	March 7
Agent:	Morgan Stanley & Co. LLC
Fees:	1.75%
Cusip:	61768DV44

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