New Issue: Morgan Stanley prices $13.38 million trigger gears on S&P 500

By Wendy Van Sickle

Columbus, Ohio, Oct. 31 – Morgan Stanley Finance LLC priced $13.38 million of 0% trigger gears due Oct. 29, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If the index return is greater than zero, the payout at maturity will be par of $10 plus 1.3 times the index return. Investors will receive par if the index declines by 25% or less and will lose 1% for every 1% decline if the index falls by more than 25%.

Morgan Stanley and UBS Financial Services Inc. are the agents.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Trigger gears
Underlying index:	S&P 500
Amount:	$13,381,580
Maturity:	Oct. 29, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.3 times any index gain; par if index declines by 25% or less; full exposure to loss if index falls beyond 25%
Initial index level:	3,830.6
Downside threshold:	2,872.95, 75% of initial level
Pricing date:	Oct. 26
Settlement date:	Oct. 31
Agents:	UBS Financial Services Inc. and Morgan Stanley
Fees:	3.5%
Cusip:	61774E824

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