New Issue: Morgan Stanley prices $3.5 million trigger PLUS linked to Russell, S&P

By Susanna Moon

Chicago, Nov. 3 – Morgan Stanley priced $3.5 million of 0% trigger Performance Leveraged Upside Securities due Oct. 30, 2020 linked to the worst performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus 180% of any gain in 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 is the agent.

Issuer:	Morgan Stanley
Issue:	Trigger Performance Leveraged Upside Securities
Underlying indexes:	Russell 2000 and S&P 500
Amount:	$3,496,000
Maturity:	Oct. 30, 2020
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 180% 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:	1,145.291 for Russell, 2,065.89 for S&P
Trigger levels:	65% of initial levels
Pricing date:	Oct. 27
Settlement date:	Oct. 30
Agent:	Morgan Stanley & Co. LLC
Fees:	3.75%
Cusip:	61761JM97

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