New Issue: Morgan Stanley sells $2.53 million leveraged buffered notes on S&P

By Taylor Fox

New York, Nov. 23 – Morgan Stanley Finance LLC priced $2.53 million of 0% leveraged buffered notes due Jan. 27, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 140% of any index gain, up to a maximum settlement amount of $1,179.90 for each $1,000 principal amount.

Investors will receive par if the index falls by up to 12.5% and will lose 1.1429% for each 1% decline beyond 12.5%.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Leveraged buffered notes
Underlying index:	S&P 500 index
Amount:	$2,533,000
Maturity:	Jan. 27, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 140% of any index gain, up to a maximum settlement amount of $1,179.90 for each $1,000 principal amount; par if index falls by up to 12.5%; 1.1429% loss for each 1% decline beyond 12.5%
Initial level:	3,510.45
Barrier level:	3,071.64375, 87.5% of initial level
Pricing date:	Nov. 5
Settlement date:	Nov. 13
Agent:	Morgan Stanley & Co. LLC
Fees:	None
Cusip:	61771EGX0

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