New Issue: Morgan Stanley prices $590,000 buffered PLUS on S&P 500

By Sarah Lizee

Olympia, Wash., Feb. 24 – Morgan Stanley Finance LLC priced $590,000 of 0% buffered Performance Leveraged Upside Securities due Feb. 17, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par of $10 plus 200% of the index return, subject to a maximum return of 21.5%. Investors will receive par if the index declines by 15% or less and will lose 1% for every 1% that it declines beyond 15%.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered Performance Leveraged Upside Securities
Underlying index:	S&P 500
Amount:	$590,000
Maturity:	Feb. 17, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 200% of index return, subject to 21.5% maximum return; par if index declines by buffer level or less; 1% loss for every 1% that index declines beyond buffer
Initial level:	3,380.16
Buffer level:	2,873.136, 85% of initial level
Pricing date:	Feb. 14
Settlement date:	Feb. 20
Agent:	Morgan Stanley & Co. LLC
Fees:	0.5%
Cusip:	61770FKE5

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