New Issue: Morgan Stanley prices $250,000 buffered jump securities on S&P, Dow

By Sarah Lizee

Olympia, Wash., May 1 – Morgan Stanley Finance LLC priced $250,000 of 0% buffered jump securities due Nov. 1, 2021 linked to the worse performing of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If each index finishes at or above its initial level, the payout at maturity will be par plus the upside payment of 13%.

If either index falls by up to 10% of its initial level, the payout will be par.

Otherwise, investors will lose 1% for every 1% that the lesser-performing underlying index declines beyond 10%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered jump securities
Underlying indexes:	S&P 500, Dow Jones industrial average
Amount:	$250,000
Maturity:	Nov. 1, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If each index gains, par plus 13%; if either index falls by up to 10%, par; otherwise, 1% loss per every 1% decline of worse performing index beyond 10%
Initial levels:	2,878.48 for S&P and 24,133.78 for Dow
Buffer levels:	2,590.632 for S&P and 21,720.402 for Dow, 90% of initial levels
Pricing date:	April 27
Settlement date:	April 30
Agent:	Morgan Stanley & Co. LLC
Fees:	2%
Cusip:	61770FB88

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