New Issue: Morgan Stanley sells $19.96 million trigger PLUS on basket of S&P, Russell

By Sarah Lizee

Olympia, Wash., March 20 – Morgan Stanley Finance LLC priced $19.96 million of 0% trigger Performance Leveraged Upside Securities due March 21, 2024 linked an equally weighted basket of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Morgan Stanley.

If the basket finishes above its initial level, the payout at maturity will be par plus 150% of the gain.

Investors will receive par if the basket falls by up to 40% and will be fully exposed to any losses if the basket finishes below its 60% trigger level.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Trigger Performance Leveraged Upside Securities
Underlying basket:	Russell 2000 index, S&P 500 index
Amount:	$19,961,000
Maturity:	March 21, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any basket gain; if basket falls by up to 40%, par; otherwise, 1% loss per 1% basket decline
Initial levels:	1,563.932 for Russell, 2,832.94 for S&P
Pricing date:	March 18
Settlement date:	March 21
Agent:	Morgan Stanley & Co. LLC
Fees:	0.4%
Cusip:	61768D3K9

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