New Issue: Morgan Stanley prices $9.07 million 10.3% contingent income autocalls on tobacco stocks

New York, Jan. 31 – Morgan Stanley Finance LLC priced $9.07 million of contingent income autocallable securities due Jan. 30, 2025 linked to the shares of British American Tobacco plc, Philip Morris International Inc. and Altria Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive a coupon of 10.3%, paid quarterly, if each underlying stock closes at or above its 75% coupon barrier on the related quarterly observation date.

The securities will be called automatically starting April 26 at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date.

At maturity the payout will be par unless the worst performing stock closes below its 65% downside threshold in which case investors will be fully exposed to the decline of the worst performing stock.

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 stocks:	British American Tobacco plc, Philip Morris International Inc. and Altria Group, Inc.
Amount:	$9,065,000
Maturity:	Jan. 30, 2025
Coupon:	10.3%, paid quarterly, if each underlying stock closes at or above its 75% coupon barrier on the related quarterly observation date
Price:	Par of $10
Payout at maturity:	Par unless the worst performing stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying stock
Call:	Automatically starting April 26 at par if the price of each underlying stock is greater than or equal to its initial price on any quarterly call determination date
Initial levels:	$42.58 for British American Tobacco, $49.47 for Altria Group $101.38 for Philip Morris
Coupon barrier:	$31.935 for British American Tobacco, $37.103 for Altria Group, $76.035 for Philip Morris, 75% of the initial levels
Downside thresholds:	$27.677 for British American Tobacco, $32.156 for Altria Group, $65.897 for Philip Morris, 65% of initial levels
Pricing date:	Jan. 26
Settlement date:	Jan. 31
Agent:	Morgan Stanley & Co. LLC
Fees:	2.5% including a structuring fee of 0.5%
Cusip:	61773U183

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