New Issue: Morgan Stanley prices $3.14 million step down trigger autocalls tied to Russell, S&P

By Wendy Van Sickle

Columbus, Ohio, May 8 – Morgan Stanley Finance LLC priced $3.14 million of 0% step down trigger autocallable notes due April 28, 2023 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

The notes will be called at par of $10 plus 8.9% per year if each asset closes at or above its initial level on any annual observation date or at or above its 70% downside threshold on the final valuation date.

If the notes are not called, the payout at maturity will be par plus the return of worse performing index with full exposure to any losses.

UBS Financial Services Inc. and Morgan Stanley & Co. LLC are the agents.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Step down trigger autocallable notes
Underlying assets:	Russell 2000 index, S&P 500 index
Amount:	$3,141,810
Maturity:	April 28, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus return of worse performing index with full exposure to any losses
Call:	At par plus 8.9% per year if each asset closes at or above its initial level on any annual observation date or at or above its 75% downside threshold on the final valuation date
Initial levels:	3,506.03 for Stoxx, 2,666.94 for S&P
Downside thresholds:	2,454.22 for Stoxx, 1,866.86 for S&P; 70% of initial levels
Pricing date:	April 26
Settlement date:	April 30
Agents:	UBS Financial Services Inc. and Morgan Stanley & Co. LLC
Fees:	2.5%
Cusip:	61768P876

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