New Issue: Morgan Stanley prices $1.33 million autocallable jump securities on indexes, ETF

New York, Feb. 2 – Morgan Stanley Finance LLC priced $1.33 million of jump securities with autocallable feature due Dec. 22, 2025 linked to the Dow Jones industrial average, the Russell 2000 index and the Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.

The securities will be called automatically at a price to give a return of 8.5% per year if the closing level of each underlier is greater than or equal to 97.50% of its initial level on any monthly determination date starting April 17.

At maturity, the payout will be par plus 16.2917% if the worst performing underlier finishes at or above 97.50% of its initial level.

The payout will be par if worst performing asset finishes below 97.50% of its initial level but at or above its 70% trigger level. Otherwise, investors will be fully exposed to the decline of worst performing asset from its initial level.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Jump securities with autocallable feature
Underlying assets:	Dow Jones industrial average, Russell 2000 index and Utilities Select Sector SPDR Fund
Amount:	$1,326,000
Maturity:	Dec. 22, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 16.2917% if worst performing asset finishes at or above its call threshold level; par if worst performing asset finishes below 97.50% of its initial level but at or above 70% trigger level; otherwise, full exposure to decline of worst performing asset
Call:	Automatically at a price to give a return of 8.5% per year if the closing level of each underlier is greater than or equal to 97.50% of its initial level on any monthly determination date starting April 17
Initial levels:	37,266.67 for Dow Jones industrial average, 1,913.166 for Russell 2000, $61.72 for Utilities Select Sector SPDR Fund
Downside thresholds:	26,086.669 for Dow Jones industrial average, 1,339.216 for Russell 2000, $43.204 for Utilities Select Sector SPDR Fund, 70% of initial levels
Call threshold:	36,335.003 for Dow Jones industrial average, 1,865.337 for Russell 2000, $60.177 for Utilities Select Sector SPDR Fund, 97.50% of initial levels
Pricing date:	Jan. 17
Settlement date:	Jan. 22
Agent:	Morgan Stanley & Co. LLC
Fees:	1.875%
Cusip:	61771WKH0

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