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

Chicago, Dec. 11 – Morgan Stanley Finance LLC priced $250,000 of 0% buffered PLUS due Nov. 5, 2024 linked to the worst performing of 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 worst performing index return subject to a maximum return of par plus 40%. Investors will receive par if the worst performing index declines by 15% or less and will lose 1% for every 1% that it declines beyond 15%.

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:	Nov. 5, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If worst performing index gains, par plus 200% of worst performing index return subject to a maximum return of par plus 40%; par if worst performing index declines by 15% or less; 1% loss for every 1% that worst performing index declines beyond 15%
Initial levels:	32,732.95 for Dow, 1,846.863 for Russell, 3,871.98 for S&P
Buffer level:	27,823.008 for Dow, 1,569.834 for Russell, 3,291.183 for S&P, 85% of initial level
Buffer:	15%
Upside leverage:	200%
Cap:	40%
Pricing date:	Oct. 31, 2022
Settlement date:	Nov. 3, 2022
Agent:	Morgan Stanley & Co. LLC
Fees:	0%
Cusip:	61774HJJ8

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