New Issue: Morgan Stanley prices $2.8 million contingent income autocalls on indexes, ETF

Chicago, March 29 – Morgan Stanley Finance LLC priced $2.8 million of contingent income autocallable securities due Sept. 20, 2024 linked to the least performing of the Nasdaq-100 index, the SPDR S&P Biotech ETF and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

Each quarter, the notes will pay a contingent coupon at the rate of 11.15% per year if each underlier closes at or above its coupon barrier level, 70% of its initial level, on the determination date for that quarter.

The notes will be automatically called at par if each underlier closes at or above its initial level on any quarterly determination date after six months.

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

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Contingent income autocallable securities
Underlying underliers:	SPDR S&P Biotech ETF, Nasdaq-100 index, S&P 500 index
Amount:	$2,800,000
Maturity:	Sept. 20, 2024
Coupon:	11.15% per year, payable quarterly if each underlier closes at or above barrier level on determination date for that quarter
Price:	Par
Payout at maturity:	Par plus any coupon due unless any underlier finishes below its downside threshold, in which case investors will lose 1% for every 1% that the least-performing underlier declines from its initial level
Call:	Automatically at par if each underlier closes at or above initial level on any quarterly determination date after six months
Initial underlier levels:	13,202.38 for Nasdaq, 3,974.12 for S&P, $147.53 for ETF
Coupon barrier levels:	9,241.666 for Nasdaq, 2,781.884 for S&P, $103.271 for ETF; 70% of initial levels
Downside thresholds:	7,921.428 for Nasdaq, 2,384.472 for S&P, $88.518 for ETF; 60% of initial levels
Pricing date:	March 17
Settlement date:	March 22
Agent:	Morgan Stanley & Co. LLC
Fees:	0%
Cusip:	61771VLA6

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