New Issue: Morgan Stanley prices $3.78 million PLUS linked to SPDR S&P 500

New York, Feb. 22 – Morgan Stanley Finance LLC priced $3.78 million of 0% PLUS due June 30, 2028 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF return is positive, the payout at maturity will be par plus 131% of the ETF return. Investors will lose 1% for every 1% that it declines.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	PLUS
Underlying ETF:	SPDR S&P 500 ETF Trust
Amount:	$3.78 million
Maturity:	June 30, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF return is positive, par plus 131% of ETF return; 1% loss for every 1% that ETF declines
Initial level:	$436.17
Upside leverage:	131%
Cap:	None
Pricing date:	June 27, 2023
Settlement date:	June 30, 2023
Agent:	Morgan Stanley & Co. LLC
Fees:	3%
Cusip:	61774X6C2

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