New Issue: Morgan Stanley prices $250,000 Trigger PLUS linked to Dow, Nasdaq

By Kiku Steinfeld

Chicago, May 8 – Morgan Stanley Finance LLC priced $250,000 of 0% Trigger PLUS due Jan. 3, 2028 linked to the Dow Jones industrial average and Nasdaq-100 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 165% of the return of the worst performing index. Investors will receive par if the return of the worst performing index is negative but ends at or above the 70% trigger and will lose 1% for every 1% decline if it ends below the trigger level.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Trigger PLUS
Underlying indexes:	Dow Jones industrial average and Nasdaq-100 index
Amount:	$250,000
Maturity:	Jan. 3, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	If return of worst performing index is positive, par plus 165% of the gain of the worst performing index; par if worst performing index declines but finishes at or above trigger level; 1% loss for every 1% decline if worst performing index finishes below trigger level
Initial levels:	33,220.80 for Dow Jones, 10,951.05 for Nasdaq
Trigger levels:	23,254.56 for Dow Jones, 7,665.735 for Nasdaq, 70% of initial levels
Upside leverage:	165%
Cap:	None
Pricing date:	Dec. 29, 2022
Settlement date:	Jan. 4, 2023
Agent:	Morgan Stanley & Co. LLC
Fees:	0.75%
Cusip:	61774TBX9

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