New Issue: Morgan Stanley prices $1.8 million 4.15% worst-of fixed coupon RevCons on three stocks

By William Gullotti

Buffalo, N.Y., Aug. 11 – Morgan Stanley Finance LLC priced $1.8 million of 4.15% worst-of fixed-coupon RevCons due Aug. 22, 2022 linked to the worst performing of the stocks of Costco Wholesale Corp., NextEra Energy, Inc. and NIKE, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

Interest is payable monthly.

If each stock finishes at or above the 60% downside threshold level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the least performing stock.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Worst-of fixed-coupon RevCons
Underlying stocks:	Costco Wholesale Corp., NextEra Energy, Inc., NIKE, Inc.
Amount:	$1.8 million
Maturity:	Aug. 22, 2022
Coupon:	4.15%, payable monthly
Price:	Par
Payout at maturity:	If each stock finishes at or above downside threshold level, par plus the final coupon; otherwise, investors will be fully exposed to the decline of the least performing stock
Initial share prices:	$384.42 for Costco, $73.12 for NextEra, $135.93 for Nike
Downside threshold levels:	$230.652 for Costco, $43.872 for NextEra, $81.558 for Nike; 60% of initial levels
Pricing date:	May 17
Settlement date:	May 20
Underwriter:	Morgan Stanley & Co. LLC
Fees:	0.25%
Cusip:	61771VX47

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