New Issue: Morgan Stanley prices $285,000 autocallable jump securities on indexes

Chicago, Dec. 11 – Morgan Stanley Finance LLC priced $285,000 of jump securities with autocallable feature due Nov. 2, 2027 linked to the worst performing of the S&P 500 index, Dow Jones industrial average and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The securities will be called automatically starting Oct. 31, 2023 at a price to give a return of 15.5% per year if the level of each underlying index is greater than or equal to 95% of its initial level on any semiannual determination date.

At maturity the payout will be par plus 77.5% if the worst performing underlier finishes above 95% of its initial level.

The payout will be par if worst performing index finishes below 95% of its initial level but above its 75% trigger level. Investors will be fully exposed to the decline of worst performing index if it finishes below its 75% 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:	Jump securities with autocallable feature
Underlying indexes:	S&P 500 index, Dow Jones industrial average and Russell 2000 index
Amount:	$285,000
Maturity:	Nov. 2, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 77.5% if worst performing index finishes above its call threshold level; par if worst performing index finishes below 95% of its initial level but above 75% trigger level; otherwise, full exposure to decline of worst performing index
Call:	Automatically starting Oct. 31, 2023 at a price to give a return of 15.5% per year if the level of each underlying index is greater than or equal to 95% of its initial level on any semiannual determination date
Initial levels:	32,861.80 for Dow, 1,846.921 for Russell, 3,901.06 for S&P
Downside thresholds:	24,646.35 for Dow, 1,385.191 for Russell, 2,925.795 for S&P, 75% of initial levels
Call threshold:	31,218.71 for Dow, 1,754.575 for Russell, 3,706.007 for S&P, 95% of initial levels
Pricing date:	Oct. 28, 2022
Settlement date:	Nov. 2, 2022
Agent:	Morgan Stanley & Co. LLC
Fees:	0%
Cusip:	61774HQZ4

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