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

By Kiku Steinfeld

Chicago, Oct. 23 – Morgan Stanley Finance LLC priced $250,000 of 0% Trigger PLUS due March 31, 2028 linked to the 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 140% of the return of the worst performing index. Investors will receive par if the return of the worst performing index is negative but ends at or above the 65% trigger and will lose 1% for every 1% decline if it ends below the trigger level.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Trigger PLUS
Underlying indexes:	S&P 500 index and Russell 2000 index
Amount:	$250,000
Maturity:	March 31, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	If return of worst performing index is positive, par plus 140% of the gain of the worst performing index; par if worst performing index declines but finishes at or above trigger level; 1% loss for every 1% decline if worst performing index finishes below trigger level
Initial levels:	1,752.632 for Russell, 3,971.27 for S&P
Trigger levels:	1,139.211 for Russell, 2,581.326 for S&P, 65% of initial level
Upside leverage:	140%
Cap:	None
Pricing date:	March 28, 2023
Settlement date:	March 31, 2023
Agent:	Morgan Stanley & Co. LLC
Fees:	3.3%
Cusip:	61774T4G4

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