New Issue: Morgan Stanley prices $1 million trigger PLUS tied to S&P 500, Stoxx 50

By Susanna Moon

Chicago, Jan. 5 – Morgan Stanley priced $1 million of 0% trigger performance securities due Dec. 31, 2020 linked to the S&P 500 index and the Euro Stoxx 50, according to a 424B2 filed with the Securities and Exchange Commission.

If each index finishes above its initial level, the payout at maturity will be par of $10 plus 211.5% of the gain of the worse performing index.

Investors will receive par if each index falls by up to 35% and will be fully exposed to any losses of the worse performing index if either index finishes below the 65% trigger level.

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

Issuer:	Morgan Stanley
Issue:	Trigger Performance Leveraged Upside Securities
Underlying indexes:	S&P 500 and Euro Stoxx 50
Amount:	$1 million
Maturity:	Dec. 31, 2020
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 211.5% of any gain in the worse performing index; par if each index falls by up to 35%; full exposure to any losses of worse performing index if either index finishes below 65% trigger level
Initial levels:	2,078.36 for S&P and 3,314.28 for Stoxx
Trigger levels:	1,350.934 for S&P and 2,154.282 for Stoxx; 65% of initial levels
Pricing date:	Dec. 29
Settlement date:	Dec. 31
Agents:	Morgan Stanley & Co. LLC and UBS Financial Services Inc.
Fees:	3.35%
Cusip:	61761JU23

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