New Issue: Morgan Stanley prices $2 million of buffered participation securities tied to S&P

By Devika Patel

Knoxville, Tenn., Sept. 30 – Morgan Stanley Finance LLC priced $2 million of 0% buffered participation securities due Sept. 30, 2024 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.

The payout at maturity will be par plus any index gain. Investors will receive par if the index falls by up to 20% and will lose 1% for every 1% decline beyond the 20% buffer, subject to a minimum payout of $200 per $1,000 of notes.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered participation securities
Underlying index: S&P 500
Amount:	$1,999,000
Maturity:	Sept. 30, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain; par if the final index level is at least 80% of the initial level; otherwise, investors will be exposed to losses beyond the 20% buffer, subject to minimum payout of $200 per $1,000 of notes
Initial index level: 2,984.87
Pricing date:	Sept. 25
Settlement date:	Sept. 30
Agent:	Morgan Stanley & Co. LLC
Fees:	3.5%
Cusip:	61769HTB1

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