New Issue: Morgan Stanley prices $2.03 million contingent income autocallables on three indexes

New York, Sept. 28 – Morgan Stanley Finance LLC priced $2.03 million of contingent income autocallable securities due March 27, 2025 linked to the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive a coupon of 7.4%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date.

The securities will be called automatically at par if the closing level of each underlying index is greater than or equal to 98% of its initial level 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 70% downside threshold on any trading day 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 worst performer declines from 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, S&P 500 index and Nasdaq-100 index
Amount:	$2,029,000
Maturity:	March 27, 2025
Coupon:	7.4%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date
Price:	Par
Payout at maturity:	Par unless any index closes below its 70% downside threshold on any trading day 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 worst performer declines from its initial level
Call:	Automatically at par if the closing level of each underlying index is greater than or equal to 98% of its initial level on any quarterly call determination date
Initial levels:	14,701.10 for Nasdaq-100, 1,776.503 for Russell 2000, 4,320.06 for S&P 500
Downside thresholds:	10,290.77 for Nasdaq-100, 1,243.552 for Russell 2000, 3,024.042 for S&P 500, 70% of initial levels
Coupon barriers:	11,025.825 for Nasdaq-100, 1,332.377 for Russell 2000, 3,240.045 for S&P 500, 75% of initial levels
Call threshold:	14,407.078 for Nasdaq-100, 1,740.973 for Russell 2000, 4,233.659 for S&P 500, 98% of initial levels
Pricing date:	Sept. 22
Settlement date:	Sept. 27
Agent:	Morgan Stanley & Co. LLC
Fees:	1.875%
Cusip:	61775HY43

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