New Issue: Morgan Stanley prices $250,000 contingent income autocallables on three SPDR sector ETFs

New York, May 23 – Morgan Stanley Finance LLC priced $250,000 of contingent income autocallable securities due May 1, 2023 linked to the Financial Select Sector SPDR Fund, the Energy Select Sector SPDR Fund and the Industrial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive a coupon of 7%, paid quarterly, if each underlying fund closes at or above its 75% coupon barrier on the related quarterly observation date.

The securities will be called automatically, starting Jan. 31, 2022 on any quarterly call determination date, at par if the price of each underlying fund is greater than or equal to its initial price.

At maturity, the payout will be par unless the worst performing fund finishes 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:	$250,000
Maturity:	May 1, 2023
Coupon:	7%, paid quarterly, if each underlying fund closes at or above its 75% coupon barrier on the related quarterly 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 on any quarterly call determination date starting Jan. 31, 2022
Initial levels:	$59.14 for Energy, $40.60 for Financial, $104.39 for Industrial
Downside thresholds:	$41.398 for Energy, $28.42 for Financial, $73.073 for Industrial, 70% of initial levels
Coupon barrier:	$44.355 for Energy, $30.45 for Financial, $78.293 for Industrial, 75% of the initial levels
Pricing date:	Oct. 26, 2021
Settlement date:	Oct. 29, 2021
Agent:	Morgan Stanley & Co. LLC
Fees:	2%
Cusip:	61773FT86

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