New Issue: Morgan Stanley prices $250,000 enhanced buffered jump notes on S&P, Russell

By Kiku Steinfeld

Chicago, April 1 – Morgan Stanley Finance LLC priced $250,000 of 0% enhanced buffered jump securities due July 3, 2025 linked to the S&P 500 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the worst performing index gains or ends above the 80% downside threshold the payout at maturity will be par plus 16.75%.

Investors will lose 1% for every 1% decline of the worst performing index declines below the downside threshold.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Enhanced buffered jump securities
Underlying indexes:	S&P 500 index and Russell 2000 index
Amount:	$250,000
Maturity:	July 3, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If worst performing index finishes at or above downside threshold level, par plus 16.75%; otherwise 1% loss for every 1% decline in worst performing index below the downside threshold level
Initial levels:	1,888.734 for Russell 2000, 4,450.38 for S&P 500
Upside payment:	16.75%
Downside thresholds:	1,510.987 for Russell 2000, 3,560.304 for S&P 500, 80% of initial level
Buffer:	20%
Pricing date:	June 30, 2023
Settlement date:	July 6, 2023
Agent:	Morgan Stanley & Co. LLC
Fees:	0.6%
Cusip:	61774X3L5

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