New Issue: Morgan Stanley prices $476,000 enhanced buffered jump notes linked to S&P, Dow

By Sarah Lizee

Olympia, Wash., May 20 – Morgan Stanley Finance LLC priced $476,000 of 0% enhanced buffered jump securities due Aug. 19, 2021 linked to the lesser performing of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

If the final level of each index is greater than or equal to its downside threshold value, 90% of its initial level, the payout at maturity will be par plus 13%. If the final level of either index is less than its downside threshold value, investors will lose 1% for every 1% that the lesser-performing index declines beyond 10%.

The notes will be guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Enhanced buffered jump securities
Underlying indexes:	S&P 500 and Dow Jones industrial average
Amount:	$476,000
Maturity:	Aug. 19, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If final level of each index is greater than or equal to downside threshold value, par plus 13%; if final level of either index is less than downside threshold value, 1% loss for every 1% that lesser-performing index declines beyond 10%
Initial levels:	2,863.70 for S&P 500 and 23,685.42 for Dow
Downside thresholds:	2,577.33 for S&P 500 and 21,316.878 for Dow, or 90% of initial levels
Pricing date:	May 15
Settlement date:	May 20
Agent:	Morgan Stanley & Co. LLC
Fees:	0.5%
Cusip:	61771BDG6

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