New Issue: Morgan Stanley prices $348,000 buffered PLUS linked to indexes

Chicago, March 20 – Morgan Stanley Finance LLC priced $348,000 of 0% buffered PLUS due May 24, 2027 linked to the worst performing of the Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average, 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 131% of the return of that index. Investors will receive par if the worst performing index declines by 25% or less and will lose 1% for every 1% that the worst performing index declines beyond 25%.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered PLUS
Underlying indexes:	Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
Amount:	$348,000
Maturity:	May 24, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	If return of worst performing index is positive, par plus 131% of that index's return; par if worst performing index declines by 25% or less; 1% loss for every 1% that worst performing index declines beyond 25%
Initial levels:	31,253.13 for Dow, 11,875.63 for Nasdaq, 1,776.223 for Russell
Buffer level:	23,439.848 for Dow, 8,906.723 for Nasdaq, 1,332.167 for Russell, 75% of initial levels
Upside leverage:	131%
Cap:	None
Pricing date:	May 19, 2022
Settlement date:	May 24, 2022
Agent:	Morgan Stanley & Co. LLC
Fees:	3.625%
Cusip:	61774DEZ6

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