New Issue: Morgan Stanley sells $1.75 million dual directional buffered notes on indexes

By Kiku Steinfeld

Chicago, April 18 – Morgan Stanley Finance LLC priced $1.75 million of 0% dual directional buffered participation securities due June 30, 2023 linked to the Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the return of the worst performing index is positive, the payout at maturity will be par the gain, subject to a maximum return of 15%.

Investors will receive par plus the absolute return of the worst performing index if it declines by no more than 15.25% and will be exposed to any decline in the worst performing index beyond 15.25%.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Dual directional buffered participation securities
Underlying indexes:	Nasdaq-100 index and Russell 2000 index
Amount:	$1.75 million
Maturity:	June 30, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any gain in lesser performing index, capped at 15%; par plus absolute return of worst performing index if it declines by no more than 15.25%; exposure to loss of worst performing index beyond buffer
Initial levels:	15,204.83 for Nasdaq, 2,281.003 for Russell
Buffers:	12,886.093 for Nasdaq, 1,933.150 for Russell; 84.75% of initial levels
Pricing date:	Sept. 27, 2021
Settlement date:	Sept. 30, 2021
Agent:	Morgan Stanley & Co. LLC
Fees:	1.5%
Cusip:	61773FR39

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