New Issue: Morgan Stanley prices $690,000 Buffered PLUS linked to Dow, S&P, Russell

By Kiku Steinfeld

Chicago, Oct. 23 – Morgan Stanley Finance LLC priced $690,000 of 0% Buffered PLUS due March 31, 2028 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 120% of the return of that index. Investors will receive par if the worst performing index declines by 30% or less and will lose 1% for every 1% that the worst performing index declines beyond 30%.

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:	$690,000
Maturity:	March 31, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	If return of worst performing index is positive, par plus 120% of that index's return; par if worst performing index declines by 30% or less; 1% loss for every 1% that worst performing index declines beyond 30%
Initial levels:	32,394.25 for Dow, 1,752.632 for Russell, 3,971.27 for S&P
Buffer levels:	22,675.975 for Dow, 1,226.842 for Russell, 2,779.889 for S&P, 70% of initial level
Upside leverage:	120%
Cap:	None
Pricing date:	March 28, 2023
Settlement date:	March 31, 2023
Agent:	Morgan Stanley & Co. LLC
Fees:	3.625%
Cusip:	61774TZ88

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