New Issue: Morgan Stanley prices $1 million trigger PLUS on BofA, Charles Schwab

By William Gullotti

Buffalo, N.Y., March 21 – Morgan Stanley Finance LLC priced $1 million of 0% trigger Performance Leveraged Upside Securities due March 19, 2026 linked to the stock performance of Bank of America Corp. and Charles Schwab Corp., according to a 424B2 filing with the Securities and Exchange Commission.

If each stock finishes at or above its initial level, the payout at maturity will be par plus 300% of the lesser-performing stock’s return, capped at par plus 202%.

If the worst performer declines but finishes at or above its 75% trigger level, the payout will be par. Otherwise, investors will be exposed to the decline of the worst performer from its initial level.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Trigger Performance Leveraged Upside Securities
Underlying stocks:	Bank of America Corp., Charles Schwab Corp.
Amount:	$1,001,000
Maturity:	March 19, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If each stock finishes at or above initial level, par plus 300% of lesser-performing stock’s return capped at par plus 202%; if the worst performer declines but finishes at or above trigger level, par; otherwise, exposure to decline of worst performer from initial level
Initial levels:	$28.76 for BofA, $56.68 for Schwab
Trigger levels:	$21.57 for BofA, $42.51 for Schwab; 75% of initial levels
Strike date:	March 14
Pricing date:	March 15
Settlement date:	March 20
Agent:	Morgan Stanley & Co. LLC
Fees:	0.6%
Cusip:	61774XBW2

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