New Issue: Morgan Stanley sells $2 million contingent income autocalls on indexes

By Wendy Van Sickle

Columbus, Ohio, March 20 – Morgan Stanley Finance LLC priced $2 million of contingent income autocallable securities due March 14, 2025 linked to the least performing of the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 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 10% per year if each index 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 index closes at or above its initial level on any quarterly redemption date after six months.

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

Morgan Stanley & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Contingent income autocallable securities
Underlying indexes:	Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
Amount:	$2 million
Maturity:	March 14, 2025
Coupon:	10% per year, payable quarterly if each index closes at or above barrier level on determination date for that quarter
Price:	Par
Payout at maturity:	Par unless any index finishes below its downside threshold, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level
Call:	Automatically at par if each index closes at or above initial level on any quarterly redemption date after six months
Initial index levels:	1,264.296 for Russell, 8,006.119 for Nasdaq, 23,553.22 for Dow
Coupon barrier levels:	885.007 for Russell, 5,604.283 for Nasdaq, 16,487.254 for Dow; 70% of initial levels
Downside thresholds:	758.578 for Russell, 4,803.671 for Nasdaq, 14,131.932; 60% of initial levels
Pricing date:	March 11
Settlement date:	March 16
Agent:	Morgan Stanley & Co. LLC
Dealer:	Morgan Stanley Wealth Management
Fees:	0%
Cusip:	61770FTY2

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