New Issue: Morgan Stanley prices $66,571 call warrants linked to Euro Stoxx Banks

By Susanna Moon

Chicago, June 5 – Morgan Stanley Finance LLC priced 798 of call warrants due May 28, 2020 linked to the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.

The price is $1,000 per warrant. The issue price is $83.422 per warrant, or 8.3422% of the notional amount, for a total premium amount of $66,570.756.

The warrants will be automatically exercised on the expiration date if the index finishes at or above its initial index level, and the cash settlement amount will be the notional amount multiplied by the index return.

If the index falls, the warrants will expire worthless and the cash settlement amount will be zero.

The notes are guaranteed by Morgan Stanley.

J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Call warrants
Underlying index:	Euro Stoxx Banks
Warrants:	798
Notional amount:	$1,000 each, or $798,000 total
Price:	$83.422 per warrant, or $66,570.756 total
Maturity:	May 28, 2020
Cash settlement date:	May 28, 2020
Payout:	If index gains, $10,000 multiplied by index return; otherwise, nothing
Initial index level:	119.51
Pricing date:	May 25
Settlement date:	May 31
Agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	5.66%
Cusip:	61768Q510

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