New Issue: Morgan Stanley prices $541,000 contingent income buffered autocalls on three indexes

New York, Sept. 26 – Morgan Stanley Finance LLC priced $541,000 of contingent income buffered autocallable securities due March 25, 2025 linked to the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive a coupon of 7.65%, paid quarterly, if each underlying index closes at or above its 80% coupon barrier on the related quarterly observation date.

The securities will be called automatically at par if the closing level of each underlying index is greater than or equal to its initial level on any quarterly call determination date starting March 25, 2024.

At maturity, the payout will be par unless any index declines by more than 20%, in which case investors will be exposed to the decline of the worst performing index beyond 20%.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Contingent income buffered autocallable securities
Underlying indexes:	Russell 2000 index, S&P 500 index and Dow Jones industrial average
Amount:	$541,000
Maturity:	March 25, 2025
Coupon:	7.65%, paid quarterly, if each underlying index closes at or above its 80% coupon barrier on the related quarterly observation date
Price:	Par
Payout at maturity:	Par if the worst performing index finishes at or above 80% of initial level; otherwise, lose 1% for each 1% decline of worst performing index beyond 20%
Call:	Automatically at par if the closing level of each underlying index is greater than or equal to its initial level on any quarterly call determination date starting March 25, 2024
Initial levels:	34,440.88 for Dow Jones industrial average, 1,810.102 for Russell 2000, 4,402.20 for S&P 500
Buffer:	20%
Buffer level:	27,552.704 for Dow Jones industrial average, 1,448.082 for Russell 2000 index, 3,521.76 for S&P 500 index, 80% of initial levels
Coupon barriers:	27,552.704 for Dow Jones industrial average, 1,448.082 for Russell 2000 index, 3,521.76 for S&P 500 index, 80% of initial levels
Pricing date:	Sept. 20
Settlement date:	Sept. 25
Agent:	Morgan Stanley & Co. LLC
Fees:	0.65%
Cusip:	61775H4S3

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