New Issue: Morgan Stanley prices $500,000 Trigger PLUS linked to Financial Select Sector

By Kiku Steinfeld

Chicago, March 27 – Morgan Stanley Finance LLC priced $500,000 of 0% Trigger PLUS due Dec. 4, 2025 linked to the Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF return is positive, the payout at maturity will be par plus 108.75% of the ETF return. Investors will receive par if the ETF return is negative but ends at or above the 70% trigger and will lose 1% for every 1% decline if it ends below the trigger level.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Trigger PLUS
Underlying ETF:	Financial Select Sector SPDR Fund
Amount:	$500,000
Maturity:	Dec. 4, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If fund return is positive, par plus 108.75% of fund return; par if fund declines but finishes at or above trigger level; 1% loss for every 1% that fund declines if it finishes below trigger level
Initial level:	$36.10
Trigger level:	$25.27, 70% of initial level
Upside leverage:	108.75%
Cap:	None
Pricing date:	Dec. 2
Settlement date:	Dec. 7
Agent:	Morgan Stanley & Co. LLC
Fees:	0.6%
Cusip:	61774TAT9

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