New Issue: Morgan Stanley prices $250,000 Buffered PLUS linked to Dow, S&P, Russell

By Kiku Steinfeld

Chicago, May 8 – Morgan Stanley Finance LLC priced $250,000 of 0% Buffered PLUS due Jan. 3, 2025 linked to the Dow Jones industrial average, S&P 500 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 200% of the return of that index subject to a maximum return of par plus 32%. Investors will receive par if the worst performing index declines by 20% or less and will lose 1% for every 1% that the worst performing index declines beyond 20%.

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:	Dow Jones industrial average, S&P 500 index and Russell 2000 index
Amount:	$250,000
Maturity:	Jan. 3, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If return of worst performing index is positive, par plus 200% of that index's return subject to a maximum return of par plus 32%; par if worst performing index declines by 20% or less; 1% loss for every 1% that worst performing index declines beyond 20%
Initial levels:	33,220.80 for Dow, 1,766.250 for Russell, 3,849.28 for S&P
Buffer levels:	26,576.64 for Dow, 1,413.000 for Russell, 3,079.424 for S&P, 80% of initial level
Upside leverage:	200%
Cap:	32%
Pricing date:	Dec. 29, 2022
Settlement date:	Jan. 4, 2023
Agent:	Morgan Stanley & Co. LLC
Fees:	0%
Cusip:	61774H4X3

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