New Issue: Morgan Stanley prices $3.28 million commodity-linked notes on basket

By William Gullotti

Buffalo, N.Y., June 22 – Morgan Stanley Finance LLC priced $3.28 million of 0% commodity-linked notes due June 20, 2025 linked to the performance of an equally-weighted basket of eight commodities, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of West Texas Intermediate light sweet crude oil futures contracts, Brent crude oil, natural gas futures, corn, soybeans, wheat, copper and zinc.

The payout at maturity will be par plus the basket return with a floor of par.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Commodity-linked notes
Underlying assets:	West Texas Intermediate light sweet crude oil futures contracts, Brent crude oil, natural gas, corn, soybeans, wheat, copper, zinc; equal weights
Amount:	$3.28 million
Maturity:	June 20, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus basket return with floor of par
Initial prices:	$115.31 for WTI, $118.51 for Brent, $7.42 for natural gas, $7.74 for corn, $16.9375 for soybeans, $10.50 for wheat, $9,257.00 for copper, $3,701.00 for zinc
Pricing date:	June 15
Settlement date:	June 21
Agent:	Morgan Stanley & Co. LLC
Fees:	2.25%
Cusip:	61773QVV8

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