New Issue: Morgan Stanley prices $1.1 million Trigger PLUS on S&P, ARK Innovation

Kiku Steinfeld

Chicago, April 5 – Morgan Stanley Finance LLC priced $1.1 million of 0% Trigger PLUS due June 27, 2024 linked to the S&P 500 Index and the ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If the return of the worst performing asset is positive, the payout at maturity will be par plus 140% of the return of the worst performing asset. Investors will receive par if the return of the worst performing asset is negative but ends at or above the 60% trigger level and will lose 1% for every 1% decline if it ends below the trigger 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 PLUS
Underlying assets:	S&P 500 Index and ARK Innovation ETF
Amount:	$1.1 million
Maturity:	June 27, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If return of worst performing asset is positive, par plus 140% of the gain of the worst performing asset; par if worst performing asset declines but finishes at or above trigger level; 1% loss for every 1% decline if worst performing asset finishes below trigger level
Initial levels:	$119.34 for ARK, 4,448.98 for S&P
Trigger levels:	$71.604 for ARK, 2,669.388 for S&P, 60% of initial levels
Pricing date:	Sept. 23, 2021
Settlement date:	Sept. 28, 2021
Agent:	Morgan Stanley & Co. LLC
Fees:	3.5%
Cusip:	61773FE74

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