New Issue: Morgan Stanley prices $1 million 5.75% fixed-income securities linked to indexes

Chicago, Oct. 25 – Morgan Stanley Finance LLC priced $1 million of fixed income securities due Feb. 28, 2024 linked to the worst performing of the Russell 2000 index, Dow Jones industrial average and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive a coupon of 5.75%, paid monthly.

If the worst performing index gains or ends above the 60% downside threshold the payout at maturity will be par. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below the downside threshold level.

The notes are non-callable.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Fixed income securities
Underlying indexes:	Russell 2000 index, Dow Jones industrial average and S&P 500 index
Amount:	$1 million
Maturity:	Feb. 28, 2024
Coupon:	5.75% annual rate, paid monthly
Price:	Par
Payout at maturity:	If worst performing index finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
Initial levels:	33,596.61 for Dow, 1,980.173 for Russell, 4,304.76 for S&P
Downside threshold:	20,157.966 for Dow, 1,188.104 for Russell, 2,582.856 for S&P, 60% of initial levels
Call:	Non-callable
Pricing date:	Feb. 23
Settlement date:	Feb. 28
Agent:	Morgan Stanley & Co. LLC
Fees:	0.4%
Cusip:	61773QDG1

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