By Wendy Van Sickle
Columbus, Ohio, March 17 – Morgan Stanley Finance LLC priced $250,000 of callable contingent income buffered securities due Feb. 26, 2026 linked to the least performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Each month, the notes will pay a contingent coupon at the rate of 4.5% per year if each index closes at or above its coupon barrier level, 80% of its initial level, on the observation date that month.
After one year, the notes may be called at par on any quarterly date.
If each index finishes at or above its buffer level, 80% of its initial level, the payout at maturity will be par plus the final coupon.
If any index finishes below its downside threshold, investors will lose 1% for every 1% decline of the lesser performing index beyond 20%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Callable contingent income buffered securities
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| Underlying indexes: | Russell 2000 and Nasdaq-100
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| Amount: | $250,000
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| Maturity: | Feb. 26, 2026
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| Coupon: | 4.5% per year, payable monthly if each index closes at or above coupon barrier level on observation date that month
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| Price: | Par
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| Payout at maturity: | Par if each index finishes at or above downside threshold; if any index finishes below buffer level, investors will lose 1% for every 1% decline of the lesser performing index beyond 20%
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| Call option: | After one year, at par on any quarterly date
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| Initial levels: | 13,194.71 for Nasdaq, 2,231.314 for Russell
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| Coupon barrier/buffers: | 10,555.768 for Nasdaq, 1,785.05128 for Russell; 80% of initial levels
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 26
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3%
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| Cusip: | 61771VAJ9
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