New Issue: Morgan Stanley sells $4.04 million 9.35% trigger callable yield notes on Dow, Russell

By William Gullotti

Buffalo, N.Y., Jan. 17 – Morgan Stanley Finance LLC priced $4.04 million of 9.35% trigger callable yield notes due April 16, 2024 linked to the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes are callable at par on any coupon payment date after three months.

The payout at maturity will be par unless the least-performing index finishes below its 60% downside threshold level, in which case investors will lose 1% for each 1% decline of the least-performing index from its initial level.

The notes are guaranteed by Morgan Stanley.

UBS Financial Services Inc. and Morgan Stanley & Co. Inc. are the agents.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Trigger callable yield notes
Underlying indexes:	Dow Jones industrial average, Russell 2000 index
Amount:	$4,038,000
Maturity:	April 16, 2024
Coupon:	9.35% per year, payable monthly
Price:	Par of $10
Payout at maturity:	Par unless least-performing index finishes below downside threshold, in which case 1% loss for each 1% decline of least-performing index from its initial level
Call option:	At par on any monthly coupon date after three months
Initial levels:	1,844.051 for Russell, 33,973.01 for Dow
Downside thresholds:	1,106.431 for Russell, 20,383.81 for Dow; 60% of initial levels
Pricing date:	Jan. 11
Settlement date:	Jan. 17
Agents:	UBS Financial Services Inc. and Morgan Stanley & Co. Inc.
Fees:	None
Cusip:	61774Q777

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