New Issue: Morgan Stanley prices $700,000 buffered PLUS linked to Dow, S&P

Chicago, May 18 – Morgan Stanley Finance LLC priced $700,000 of 0% buffered PLUS due June 29, 2027 linked to the worst performing of the Dow Jones industrial average and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the return of the worst performing index is positive, the payout at maturity will be par plus 135% of the return of that index. Investors will receive par if the worst performing index declines by 20% or less and will lose 1% for every 1% that the worst performing index declines beyond 20%.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered PLUS
Underlying indexes:	Dow Jones industrial average and S&P 500 index
Amount:	$700,000
Maturity:	June 29, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	If return of worst performing index is positive, par plus 135% of that index's return; par if worst performing index declines by 20% or less; 1% loss for every 1% that worst performing index declines beyond 20%
Initial levels:	31,500.68 for Dow, 3,911.74 for S&P
Buffer level:	25,200.544 for Dow, 3,129.392 for S&P, 80% of initial levels
Upside leverage:	135%
Cap:	None
Pricing date:	June 24, 2022
Settlement date:	June 29, 2022
Agent:	Morgan Stanley & Co. LLC
Fees:	0.5%
Cusip:	61774DRF6

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