New Issue: Morgan Stanley prices $675,000 contingent income autocalls on Russell, Dow, Nasdaq

New York, Dec. 8 – Morgan Stanley Finance LLC priced $675,000 of contingent income autocallable securities due Dec. 6, 2023 linked to Russell 2000 index, Dow Jones industrial average and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive a coupon of 11.75%, paid monthly, if each underlying index closes at or above its downside threshold on the related monthly observation date.

The securities will be called automatically starting March 4, 2022 at par if the level of each underlying index is greater than or equal to its initial price on any quarterly call determination date.

If the notes have not been called, the payout at maturity will be par unless any index closes below its downside threshold during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Contingent income autocallable securities
Underlying indexes:	Russell 2000 index, Dow Jones industrial average and Nasdaq-100 index
Amount:	$675,000
Maturity:	Dec. 6, 2023
Coupon:	11.75%, paid monthly, if each underlying index closes at or above its downside threshold on the related monthly observation date
Price:	Par
Payout at maturity:	Par unless any index closes below its downside threshold during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level
Call:	Automatically starting March 4, 2022 at par if the level of each underlying index is greater than or equal to its initial price on any quarterly call determination date
Initial level:	34,022.04 for Dow Jones Industrial Average, 15,877.72 for Nasdaq-100 index, 2,147.420 for Russell 2000 index
Downside threshold:	23,815.428 for Dow Jones Industrial Average, 11,114.404 for Nasdaq-100 index, 1,503.194 for Russell 2000 index, 70% of initial levels
Pricing date:	Dec. 1
Settlement date:	Dec. 6
Agent:	Morgan Stanley & Co. LLC
Fees:	0%
Cusip:	61773HNW5

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