New Issue: Morgan Stanley prices $542,000 dual directional buffered participation notes on indexes

Chicago, June 14 – Morgan Stanley Finance LLC priced $542,000 of 0% dual directional buffered participation securities due Dec. 4, 2025 linked to the worst performing of the Nasdaq-100 index and Russell 2000 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 100% of the return of the worst performing index subject to a maximum return of par plus 60%.

Investors will receive par plus 50% of the absolute return of the worst performing index if it declines but by no more than the 20% buffer and will be exposed to any decline in the worst performing index beyond the buffer.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Dual directional buffered participation securities
Underlying indexes:	Nasdaq-100 index and Russell 2000 index
Amount:	$542,000
Maturity:	Dec. 4, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If return of worst performing index is positive, par plus 100% of that index's return subject to a maximum return of par plus 60%; par plus 50% of absolute return of worst performing index if it declines but by no more than 20%; exposure to loss of worst performing index beyond buffer
Initial levels:	16,135.92 for Nasdaq, 2,198.908 for Russell
Upside leverage:	100%
Cap:	60%
Absolute return:	50%
Buffer:	20%
Pricing date:	Nov. 30, 2021
Settlement date:	Dec. 3, 2021
Agent:	Morgan Stanley & Co. LLC
Fees:	0.5%
Cusip:	61773HBN8

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