New Issue: Morgan Stanley sells $5.66 million market-linked leveraged upside notes on S&P 500

By Wendy Van Sickle

Columbus, Ohio, Nov. 9 – Morgan Stanley Finance LLC priced $5.66 million of 0% market-linked securities – leveraged upside participation to a cap and contingent downside due Nov. 3, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 250% of any gain, capped at par plus 91%.

Investors will receive par if the index falls by up to 20% and will be fully exposed to any losses if the index falls by more than 20%.

Wells Fargo Securities, LLC and Morgan Stanley & Co. LLC are the agents.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Market-linked securities – leveraged upside participation to a cap and contingent downside
Underlying index:	S&P 500 index
Amount:	$5,655,000
Maturity:	Nov. 3, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 250% of any gain, capped at par plus 91%; par if index falls by up to 20%; 1% loss for each 1% decline otherwise
Initial level:	3,871.98
Buffer level:	3,097.584; 80% of initial level
Pricing date:	Oct. 31
Settlement date:	Nov. 3
Agents:	Wells Fargo Securities LLC and Morgan Stanley & Co. LLC
Fees:	3.82%
Cusip:	61774HMB1

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