New Issue: Morgan Stanley prices $1.04 million 10.4% contingent income autocalls on Russell, Nasdaq, Dow

New York, May 23 – Morgan Stanley Finance LLC priced $1.04 million of contingent income autocallable securities due May 21, 2025 linked to Russell 2000 index, Nasdaq-100 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive an annualized coupon of 10.4%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date.

The securities will be called automatically starting Nov. 21, 2022 at par if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date.

At maturity the payout will be par unless the worst performing index closes below its 70% downside threshold in which case investors will be fully exposed to the decline of that index.

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, Nasdaq-100 index and Dow Jones industrial average
Amount:	$1,038,000
Maturity:	May 21, 2025
Coupon:	10.4%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date
Price:	Par
Payout at maturity:	Par unless the worst performing index closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying index
Call:	Automatically starting Nov. 21, 2022 at par if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date
Initial levels:	32,223.42 for Dow Jones industrial average, 12,243.58 for Nasdaq-100, 1,783.427 for Russell 2000
Downside threshold:	22,556.394 for Dow Jones industrial average, 8,570.506 for Nasdaq-100, 1,248.399 for Russell 2000, 70% of initial levels
Coupon barrier:	25,778.736 for Dow Jones industrial average, 9,794.864 for Nasdaq-100 index, 1,426.742 for Russell 2000 index, 80% of the initial levels
Pricing date:	May 16
Settlement date:	May 19
Agent:	Morgan Stanley & Co. LLC
Fees:	2.5%
Cusip:	61774DDP9

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