New Issue: Morgan Stanley prices $339,000 market-linked notes linked to S&P 500

By Kiku Steinfeld

Chicago, Jan. 18 – Morgan Stanley Finance LLC priced $339,000 of 0% market-linked notes due May 1, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 100% of the index return subject to a maximum return of par plus 23%. Otherwise investors will receive par.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Market-linked notes
Underlying index:	S&P 500 index
Amount:	$339,000
Maturity:	May 1, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 100% of index return subject to a maximum return of par plus 23%; minimum payout of par
Initial level:	4,169.48
Upside leverage:	100%
Cap:	23%
Pricing date:	April 28, 2023
Settlement date:	May 3, 2023
Agent:	Morgan Stanley & Co. LLC
Fees:	0.5%
Cusip:	61774XGW7

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