New Issue: Morgan Stanley sells $2.82 million enhanced trigger jump notes on ETFs

By Sarah Lizee

Olympia, Wash., Dec. 2 – Morgan Stanley Finance LLC priced $2.82 million of 0% enhanced trigger jump securities due Nov. 27, 2020 linked to the worst performing of the SPDR S&P Retail ETF, the SPDR S&P Oil & Gas Exploration & Production ETF and the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If each asset finishes at or above 60% of its initial level, the payout at maturity will be par plus 10.65%.

If any asset finishes below 60% of its initial level, investors will be fully exposed to the decline of the least performing asset from its initial level.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Enhanced trigger jump securities
Underlying assets:	SPDR S&P Retail ETF, the SPDR S&P Oil & Gas Exploration & Production ETF and the SPDR S&P Biotech ETF
Amount:	$2,821,000
Maturity:	Nov. 27, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If each asset finishes at or above 60% of its initial level, par plus 10.65%; if any asset finishes below 60% of its initial level, full exposure to the decline of the least performing asset from its initial level
Initial levels:	$44.86 for retail ETF, $21.96 for oil ETF, $84.79 for biotech ETF
Downside thresholds:	$26.916 for retail ETF, $13.176 for oil ETF, $50.874 for biotech ETF; 60% of initial levels
Pricing date:	Nov. 15
Settlement date:	Nov. 20
Agent:	Morgan Stanley & Co. LLC
Fees:	0.75%
Cusip:	61769HP74

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