New Issue: Morgan Stanley prices $7.23 million buffered participation securities linked to S&P 500

New York, Nov. 21 – Morgan Stanley Finance LLC priced $7.23 million of 0% Buffered participation securities due Sept. 30, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus the index return, subject to a maximum return of par plus 200%.

Investors will receive par if the index declines by 25% or less and will lose 1% for every 1% that it declines beyond 25%.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered participation securities
Underlying index:	S&P 500 index
Amount:	$7,234,000
Maturity:	Sept. 30, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus index return, subject to a maximum return of par plus 200%; par if index declines by 25% or less; otherwise, 1% loss for every 1% that index declines beyond 25%
Initial level:	3,647.29
Buffer:	25%
Buffer level:	2,735.468, 75% of initial level
Cap:	200%
Pricing date:	Sept. 27
Settlement date:	Sept. 30
Agent:	Morgan Stanley & Co. LLC
Fees:	4.25%
Cusip:	61774D6Q5

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