New Issue: Morgan Stanley prices $2.89 million dual directional buffered participation securities

New York, April 2 – Morgan Stanley Finance LLC priced $2.89 million of 0% dual directional buffered participation securities due May 1, 2025 linked to the stock performance of Apple Inc., Amazon.com, Inc. and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.

If the return of the worst performing stock is positive, the payout at maturity will be par plus the return of that stock, subject to a maximum return of par plus 15.5%.

Investors will receive par plus absolute return of the worst performing stock if it declines by no more than 25% and will lose 1% for every 1% decline of the worst performing stock 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:	Dual directional buffered participation securities
Underlying stocks:	Apple Inc., Amazon.com, Inc. and Alphabet Inc.
Amount:	$2,892,000
Maturity:	May 1, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If return of worst performing stock is positive, par plus that stock's return, subject to a maximum return of par plus 15.5%; par plus absolute return of worst performing stock if it declines by no more than 25%; otherwise, lose 1% for every 1% decline of the worst performing stock beyond 25%
Initial levels:	$173.31 for Apple, $179.83 for Amazon.com, $150.87 for Alphabet
Cap:	15.5%
Buffer:	25%
Pricing date:	March 27
Settlement date:	April 2
Agent:	Morgan Stanley & Co. LLC
Fees:	0.65%
Cusip:	61776LKB2

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