New Issue: Morgan Stanley prices $5 million market-linked notes on index basket

By Toni Weeks

San Luis Obispo, Calif., Aug. 29 – Morgan Stanley priced $5 million of 0% market-linked notes due July 3, 2023 tied to a basket containing the S&P 500 index and the S&P MidCap 400 index, equally weighted, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus the supplemental redemption amount, if any, subject to a maximum payout of $20 per $10 note. Investors will receive a minimum of par if the basket declines.

The supplemental redemption amount is based on the average of the closing index values on each trading day during the three-month period prior to maturity beginning March 28, 2023.

Morgan Stanley & Co. LLC is the agent with Morgan Stanley Wealth Management as dealer.

Issuer:	Morgan Stanley
Issue:	Market-linked notes
Underlying basket indexes:	S&P 500 and S&P MidCap 400, equally weighted
Amount:	$5 million
Maturity:	July 3, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus supplemental redemption amount, if any, with maximum return of 100% and minimum payout of par
Initial index levels:	2,000.12 for S&P 500, 1,433.27 for S&P MidCap 400
Initial basket level:	100
Final basket level:	Average of closing index values on each trading day during three-month period prior to maturity beginning March 28, 2023
Pricing date:	Aug. 27
Settlement date:	Sept. 2
Agent:	Morgan Stanley & Co. LLC with Morgan Stanley Wealth Management as dealer
Fees:	3.5%
Cusip:	61758S559

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