New Issue: Morgan Stanley prices $22.02 million leveraged buffered notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Sept. 23 – Morgan Stanley Finance LLC priced $22.02 million of 0% leveraged buffered notes due Oct. 21, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above its initial level, the payout at maturity will be par plus 150% of the index return, subject to a maximum return of 19.8%. Investors will receive par if the index declines by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Leveraged buffered notes
Underlying index:	S&P 500
Amount:	$22,021,000
Maturity:	Oct. 21, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes above initial level, par plus 150% of index return, subject to 19.8% maximum return; par if index declines by 10% or less; 1.1111% for every 1% that index declines beyond 10%
Initial level:	3,006.79
Pricing date:	Sept. 19
Settlement date:	Sept. 26
Agent:	Morgan Stanley & Co. LLC
Fees:	2%
Cusip:	61769HVP7

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