New Issue: Morgan Stanley sells $4.22 million contingent income autocalls on Financial Select, Energy Select, Industrial Select

New York, Jan. 6 – Morgan Stanley Finance LLC priced $4.22 million of contingent income autocallable securities due Jan. 6, 2025 linked to Financial Select Sector SPDR fund, Energy Select Sector SPDR fund and Industrial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive a coupon of 8.75%, paid quarterly, if each underlying fund closes at or above its downside threshold on the related quarterly observation date.

The securities will be called automatically starting April 4, 2022 at par if the price of each underlying fund 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 fund closes below its 70% 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:	Financial Select Sector SPDR Fund, Energy Select Sector SPDR Fund and Industrial Select Sector SPDR Fund
Amount:	$4,218,500
Maturity:	Jan. 6, 2025
Coupon:	8.75%, paid quarterly, if each underlying fund closes at or above its downside threshold on the related quarterly observation date
Price:	Par of $10
Payout at maturity:	Par unless the worst performing fund closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying fund
Call:	Automatically starting April 4, 2022 at par if the price of each underlying fund is greater than or equal to its initial price on any quarterly call determination date
Initial levels:	$55.36 for Energy Select Sector SPDR Fund, $39.12 for Financial Select Sector SPDR Fund, $105.36 for Industrial Select Sector SPDR Fund
Downside thresholds:	$38.752 for Energy Select Sector SPDR Fund, $27.384 for Financial Select Sector SPDR Fund, $73.752 for Industrial Select Sector SPDR Fund, 70% of initial levels
Pricing date:	Dec. 30
Settlement date:	Jan. 5
Agent:	Morgan Stanley & Co. LLC
Fees:	2.5% including a structuring fee of 0.5%
Cusip:	61773N650

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