New Issue: Morgan Stanley sells $19.97 million enhanced trigger jump securities on West Texas Intermediate Light Sweet Crude

By Wendy Van Sickle

Columbus, Ohio, Dec. 22 – Morgan Stanley Finance LLC priced $19.97 million of 0% enhanced trigger jump securities due Jan. 22, 2024 linked to the West Texas Intermediate Light Sweet Crude Oil Futures Contracts, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If the final commodity level is greater than or equal to the downside threshold level, 70% of the initial commodity level, the payout at maturity will be par plus 18.5%. Otherwise, investors will lose 1% for every 1% that the commodity declines from its initial level.

Morgan Stanley & Co. LLC is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are placement agents.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Enhanced trigger jump securities
Underlying commodity:	West Texas Intermediate Light Sweet Crude Oil Futures Contracts
Amount:	$19,968,000
Maturity:	Jan. 22, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If final commodity level is greater than or equal to downside threshold level, par plus 18.5%; otherwise, 1% loss for every 1% that commodity declines from initial level
Initial commodity level:	$74.29
Downside threshold:	$52.003, 70% of initial level
Pricing date:	Dec. 16
Settlement date:	Dec. 21
Agent:	Morgan Stanley & Co. LLC
Placement agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	2.25%
Cusip:	61774FAV4

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