New Issue: Morgan Stanley sells $361,000 trigger PLUS linked to Dow, Russell

By Sarah Lizee

Olympia, Wash., May 21 – Morgan Stanley Finance LLC priced $361,000 of 0% trigger Performance Leveraged Upside Securities due May 22, 2025 linked to the worst performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If each index finishes above its initial level, the payout at maturity will be par plus 140% of any gain of the worst performing index.

If either index falls but each remains at or above the 70% trigger level, the payout will be par.

Otherwise, investors will be fully exposed to any losses of the worst performing index.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Trigger Performance Leveraged Upside Securities
Underlying indexes:	Dow Jones industrial average and Russell 2000 index
Amount:	$361,000
Maturity:	May 22, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If worst-performing index gains, par plus 140% of the return of the worst performing index; if either index falls by up to trigger level, par; otherwise, full exposure to any losses of worst performing index
Initial level:	24,597.37 for Dow, 1,333.689 for Russell
Trigger level:	17,218.159 for Dow, 933.582 for Russell; 70% of initial level
Pricing date:	May 18
Settlement date:	May 21
Agent:	Morgan Stanley & Co. LLC
Fees:	4%
Cusip:	61771BAY0

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