New Issue: Morgan Stanley prices $1.31 million trigger jump notes tied to S&P 500

By Devika Patel

Knoxville, Tenn., Jan. 2 – Morgan Stanley Finance LLC priced $1.31 million of 0% trigger jump securities due Dec. 30, 2025 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 return is positive, the payout at maturity will be par plus the greater of the index return and 37%. Investors will receive par if the index falls but finishes at or above the principal barrier, 70% of its initial level, and will lose 1% for each 1% decline from the initial level if the index declines by more than 30%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Trigger jump securities
Underlying index:	S&P 500
Amount:	$1,307,000
Maturity:	Dec. 30, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus greater of index return and 37%; par if index’s final level is less than initial level but greater than or equal to principal barrier; 1% loss for each 1% decline from initial level if final index level is less than principal barrier
Initial index level:	3,221.22
Principal barrier:	2,254.854, 70% of initial index level
Pricing date:	Dec. 20
Settlement date:	Dec. 30
Underwriter:	Morgan Stanley & Co. LLC
Fees:	3.25%
Cusip:	61769HX83

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