New Issue: Morgan Stanley prices $6.12 million trigger gears linked to S&P 500

By Marisa Wong

Morgantown, W.Va., Oct. 31 – Morgan Stanley Finance LLC priced $6.12 million of 0% trigger gears due Oct. 30, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If the index return is greater than zero, the payout at maturity will be par of $10 plus 1.84 times the index return. Investors will receive par if the index declines by 50% or less and will be fully exposed to the index’s decline from its initial level if it declines by more than 50%.

Morgan Stanley & Co. LLC is the agent. UBS Financial Services Inc. is acting as dealer.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Trigger gears
Underlying index:	S&P 500
Amount:	$6,121,600
Maturity:	Oct. 30, 2026
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index return is greater than zero, par plus 1.84 times index return; par if index return is less than or equal to zero but final index level is greater than or equal to downside threshold; full exposure to index’s decline from initial level if index finishes below downside threshold
Initial index level:	2,139.43
Downside threshold:	1,069.72, 50% of initial level
Pricing date:	Oct. 26
Settlement date:	Oct. 31
Agent:	Morgan Stanley & Co. LLC
Dealer:	UBS Financial Services Inc.
Fees:	5%
Cusip:	61766F326

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