New Issue: Morgan Stanley prices $480,000 buffered PLUS tied to Russell, S&P

By Kiku Steinfeld

Chicago, April 21 – Morgan Stanley Finance LLC priced $480,000 of 0% buffered Performance Leveraged Upside Securities due April 6, 2026 linked to the worse performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If each index finishes above the initial level, the payout at maturity will be par plus 115% of the gain of the worse performing index.

If either index falls by up to 20%, the payout will be par.

Otherwise, investors will lose 1.25% for each 1% decline of the index beyond 20%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered Performance Leveraged Upside Securities
Underlying index:	S&P 500, Russell 2000
Amount:	$480,000
Maturity:	April 6, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If each index gains, par plus 115% of return of worse performing index; if either index falls by up to 20%, par; otherwise, 1.25% loss for each 1% decline beyond 20%
Initial levels:	3,972.89 for S&P, 2,220.519 for Russell
Buffer levels:	3,178.312 for S&P, 1,776.415 for Russell, 80% of initial levels
Pricing date:	March 31
Settlement date:	April 5
Agent:	Morgan Stanley & Co. LLC
Fees:	0.75%
Cusip:	61771VDG2

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