New Issue: Morgan Stanley prices $1 million contingent income autocalls linked to indexes

By Kiku Steinfeld

Chicago, Nov. 20 – Morgan Stanley Finance LLC priced $1 million of contingent income autocallable securities due Oct. 31, 2024 linked to the least performing of the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

Each month, the notes will pay a contingent coupon at the rate of 5% per year if each index closes at or above its coupon threshold level, 70% of its initial level, on the determination date for that month.

After one year, the notes will be automatically called at par plus the coupon if each index closes at or above its initial level on any quarterly redemption determination date.

The payout at maturity will be par plus any coupon due unless any index closes below its 60% downside threshold level, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level.

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:	Russell 2000, Nasdaq-100 and Dow Jones industrial average
Amount:	$1,000,000
Maturity:	Oct. 31, 2024
Coupon:	5% per year, payable monthly if each index closes at or above coupon threshold on determination date for that month
Price:	Par
Payout at maturity:	Par plus any coupon due unless any index closes below its downside threshold level, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level
Call:	Automatically at par plus the coupon if each index closes at or above initial level on any quarterly redemption determination date after one year
Initial levels:	1,571.933 for Russell, 27,090.72 for Dow, 8,110.669 for Nasdaq
Coupon thresholds:	1,100.353 for Russell, 18,963.504 for Dow, 5,677.468 for Nasdaq, or 70% of initial levels
Downside thresholds:	943.160 for Russell, 16,254.432 for Dow, 4,866.401 for Nasdaq, or 60% of initial levels
Pricing date:	Oct. 28
Settlement date:	Oct. 31
Agent:	Morgan Stanley & Co. LLC
Fees:	4.025%
Cusip:	61769HXJ9

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