New Issue: Morgan Stanley prices $500,000 7.5% buffered fixed income notes on S&P

By Kiku Steinfeld

Chicago, June 1 – Morgan Stanley Finance LLC priced $500,000 of 7.5% buffered fixed income securities due Oct. 25, 2024 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.

Interest is paid monthly.

The payout at maturity will be par plus the coupon unless the index finishes below its buffer level, 90% of its initial level, in which case investors will lose 1% for every 1% that the index declines beyond 10%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered fixed income securities
Underlying index:	S&P 500 index
Amount:	$500,000
Maturity:	Oct. 25, 2024
Coupon:	7.5% per year, payable monthly
Price:	Par
Payout at maturity:	Par plus the coupon unless the index finishes below its buffer level, in which case investors will lose 1% for every 1% that the index declines beyond buffer
Initial level:	4,019.81
Buffer level:	3,617.829; 90% of initial level
Pricing date:	Jan. 23, 2023
Settlement date:	Jan. 26, 2023
Agent:	Morgan Stanley & Co. LLC
Fees:	0.6%
Cusip:	61774TRK0

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