New Issue: Morgan Stanley prices $619,000 dual directional buffered participation notes on indexes

By Kiku Steinfeld

Chicago, Sept. 28 – Morgan Stanley Finance LLC priced $619,000 of 0% dual directional buffered participation securities due Feb. 5, 2026 linked to 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 the return of the worst performing index subject to a maximum return of 80%.

Investors will receive par plus 50% of the absolute return of the worst performer 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:	$619,000
Maturity:	Feb. 5, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any gain in worst performing index, capped at 80%; par plus half absolute return of worst performer if it declines but by no more than 20%; exposure to loss of worst performer beyond buffer
Initial levels:	14,930.05 for Nasdaq, 2,028.453 for Russell
Upside leverage:	100%
Cap:	80%
Absolute return:	50%
Buffer:	11,944.04 for Nasdaq, 1,622.762 for Russell, 80% of initial levels
Pricing date:	Jan. 31
Settlement date:	Feb. 3
Agent:	Morgan Stanley & Co. LLC
Fees:	0.75%
Cusip:	61773HWQ8

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