New Issue: Morgan Stanley prices $250,000 buffered PLUS on iShares China Large-Cap ETF

By Sarah Lizee

Olympia, Wash., Feb. 27 – Morgan Stanley Finance LLC priced $250,000 of 0% buffered Performance Leveraged Upside Securities due Feb. 24, 2023 linked to the iShares China Large-Cap ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF return is positive, the payout at maturity will be par plus 200% of the ETF return, capped at par plus 37%. Investors will receive par if the ETF declines by 15% or less and will lose 1% for every 1% that it declines beyond 15%.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered Performance Leveraged Upside Securities
Underlying ETF:	iShares China Large-Cap ETF
Amount:	$250,000
Maturity:	Feb. 24, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF return is positive, par plus 200% of ETF return, capped at par plus 37%; par if ETF declines by 15% or less; 1% loss for every 1% that it declines beyond 15%
Initial level:	$42.02
Buffer level:	$35.717, 85% of initial level
Pricing date:	Feb. 21
Settlement date:	Feb. 26
Agent:	Morgan Stanley & Co. LLC
Fees:	0.5%
Cusip:	61770FLG9

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