New Issue: Morgan Stanley sells $3.61 million market plus notes linked to S&P 500

By Marisa Wong

Morgantown, W.Va., April 25 – Morgan Stanley Finance LLC priced $3.61 million of 0% market plus notes due Oct. 9, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If the index finishes at or above its 82.75% knock-out level, the payout at maturity will be par plus the greater of the index return and the contingent minimum return of 0%.

Otherwise, the payout will be par plus the index return, with full exposure to any losses.

Morgan Stanley & Co. LLC is the agent with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Market plus notes
Underlying index:	S&P 500
Amount:	$3,611,000
Maturity:	Oct. 9, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	If index gains, finishes flat or falls by up to 17.25%, par plus index return, subject to floor of par; otherwise, 1% loss per 1% decline
Initial index level:	2,604.47
Knock-out level:	2,155.199, 82.75% of initial level
Pricing date:	April 6
Settlement date:	April 11
Agent:	Morgan Stanley & Co. LLC
Placement agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1.25%
Cusip:	61768CT56

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