New Issue: Morgan Stanley prices $265,000 Buffered PLUS linked to S&P, ARK Innovation

By Kiku Steinfeld

Chicago, March 31 – Morgan Stanley Finance LLC priced $265,000 of 0% Buffered Performance Leveraged Upside Securities due June 27, 2024 linked to the S&P 500 index and the ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 130% of the index return. Investors will receive par if the index declines by 15% or less and will lose 1% for every 1% that it declines beyond 15%.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered Performance Leveraged Upside Securities
Underliers:	S&P 500 Index and ARK Innovation ETF
Amount:	$265,000
Maturity:	June 27, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If return of worst performing asset is positive, par plus 130% of that asset's return; par if worst performing asset declines by 15% or less; 1% loss for every 1% that worst performing asset declines beyond 15%
Initial levels:	$118.11 for ARK, 4,395.64 for S&P
Buffer levels:	$100.394 for ARK, 3,736.294 for S&P, 85% of initial levels
Upside leverage:	130%
Cap:	None
Pricing date:	Sept. 22, 2021
Settlement date:	Sept. 27, 2021
Agent:	Morgan Stanley & Co. LLC
Fees:	3.3%
Cusip:	61773FYT4

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