New Issue: Morgan Stanley prices $23.03 million buffered digital notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Aug. 6 – Morgan Stanley Finance LLC priced $23.03 million of 0% buffered digital notes due Aug. 4, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is greater than or equal to negative 15%, the payout at maturity will be par plus 10.1%. Otherwise, investors will lose 1.1765% for every 1% that the index declines beyond 15%.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered digital notes
Underlying index:	S&P 500
Amount:	$23.03 million
Maturity:	Aug. 4, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is greater than or equal to negative 15%, par plus 10.1%; otherwise, 1.1765% loss for every 1% that index declines beyond 15%
Initial level:	2,932.05
Threshold level:	2,492.2425, or 85% of initial level
Pricing date:	Aug. 2
Settlement date:	Aug. 9
Agent:	Morgan Stanley & Co. LLC
Fees:	1.47%
Cusip:	61769HMC6

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