New Issue: Morgan Stanley prices $2.27 million 8.68% contingent income autocallables on indexes

Chicago, April 12 – Morgan Stanley Finance LLC priced $2.27 million of contingent income autocallable securities due July 23, 2026 linked to the worst performing of the S&P 500 index, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive a coupon of 8.68%, 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 starting July 18, 2024 at par if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date.

At maturity the payout will be par unless the worst performing index closes below its 75% downside threshold level in which case investors will be fully exposed to the decline of the worst performing index.

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 autocallable securities
Underlying indexes:	S&P 500 index, Nasdaq-100 index and Russell 2000 index
Amount:	$2,273,000
Maturity:	July 23, 2026
Coupon:	8.68% annual rate, 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 unless the worst performing index closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing index
Call:	Automatically starting July 18, 2024 at par if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date
Initial levels:	16,982.29 for Nasdaq, 1,923.653 for Russell, 4,780.94 for S&P
Coupon barriers:	13,585.832 for Nasdaq, 1,538.922 for Russell, 3,824.752 for S&P, 80% of initial levels
Downside thresholds:	12,736.718 for Nasdaq, 1,442.740 for Russell, 3,585.705 for S&P, 75% of initial levels
Pricing date:	Jan. 18
Settlement date:	Jan. 23
Agent:	Morgan Stanley & Co. LLC
Fees:	2.5%
Cusip:	61771WPP7

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