New Issue: Morgan Stanley prices $1.64 million contingent income autocallables on two ETFs

New York, May 23 – Morgan Stanley Finance LLC priced $1.64 million of contingent income autocallable securities due July 31, 2024 linked to the ARK Innovation ETF and the Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive a coupon of 10.5%, paid monthly, if each underlying fund closes at or above its 70% coupon barrier on the related monthly observation date.

The securities will be called automatically at par if the price of each underlying fund is greater than or equal to its initial price, starting April 26, 2022 on any monthly call determination date.

At maturity, the payout will be par unless the worst performing fund finishes below its 60% downside threshold, in which case investors will be fully exposed to the decline of the worst performing fund.

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 ETFs:	ARK Innovation ETF and Energy Select Sector SPDR Fund
Amount:	$1.64 million
Maturity:	July 31, 2024
Coupon:	10.5%, paid monthly, if each underlying fund closes at or above its 70% coupon barrier on the related monthly observation date
Price:	Par
Payout at maturity:	Par unless the worst performing fund finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing underlying fund
Call:	Automatically at par if the price of each underlying fund is greater than or equal to its initial price, starting April 26, 2022 on any monthly call determination date
Initial levels:	$121.20 for ARK Innovation ETF, $59.14 for Energy Select Sector SPDR Fund
Downside thresholds:	$72.72 for ARK Innovation ETF, $35.484 for Energy Select Sector SPDR Fund, 60% of initial levels
Coupon barrier:	$84.84 for ARK Innovation ETF, $41.398 for Energy Select Sector SPDR Fund, 70% of the initial levels
Pricing date:	Oct. 26, 2021
Settlement date:	Oct. 29, 2021
Agent:	Morgan Stanley & Co. LLC
Fees:	3%
Cusip:	61773F5S8

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