New Issue: Morgan Stanley sells $1.47 million buffered PLUS linked to S&P 500

By Sarah Lizee

Olympia, Wash., April 3 – Morgan Stanley Finance LLC priced $1.47 million of 0% buffered Performance Leveraged Upside Securities due April 1, 2021 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

The payout at maturity will be par plus 200% of any index gain, capped at par plus 19%.

Investors will receive par if the index falls by up to 10% and will lose 1% for each 1% decline beyond 10%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered Performance Leveraged Upside Securities
Underlying index:	S&P 500 index
Amount:	$1,465,000
Maturity:	April 1, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 200% of any index gain, capped at par plus 19%; par if the index falls by up to 10%; 1% loss for each 1% decline beyond 10%
Initial level:	2,834.40
Buffer level:	2,550.96, 90% of initial level
Pricing date:	March 29
Settlement date:	April 3
Agent:	Morgan Stanley & Co. LLC
Fees:	0.75%
Cusip:	61768DX59

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