New Issue: Morgan Stanley prices $300,000 contingent income buffered autocallables on indexes, fund

Chicago, Feb. 28 – Morgan Stanley Finance LLC priced $300,000 of contingent income buffered autocallable securities due July 22, 2025 linked to the worst performing of the Nasdaq-100 index, Russell 2000 index and Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive a coupon of 7.25%, paid monthly, if each underlier closes at or above its 80% coupon barrier on the related monthly observation date.

The securities will be called automatically starting July 22, 2024 at par on any monthly call determination date if all three assets close above their initial level.

At maturity the payout will be par unless either asset declines by more than its 15% buffer in which case investors will be exposed to the decline of the worst performing asset beyond the buffer.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Contingent income buffered autocallable securities
Underlying assets:	Nasdaq-100 index, Russell 2000 index and Utilities Select Sector SPDR Fund
Amount:	$300,000
Maturity:	July 22, 2025
Coupon:	7.25% annual rate, paid monthly, if each underlier closes at or above its 80% coupon barrier on the related monthly observation date
Price:	Par
Payout at maturity:	Par if the worst performing asset gains or loses no more than its 15% buffer, otherwise investors will be exposed to the decline in the worst performing underlier beyond the buffer
Call:	Automatically starting July 22, 2024 at par on any monthly call determination date if all three assets close above initial levels
Initial levels:	16,736.28 for Nasdaq, 1,913.166 for Russell, $61.72 for utilities fund
Coupon barriers:	13,389.024 for Nasdaq, 1,530.533 for Russell, $49.376 for utilities fu, 80% of initial levels
Buffer levels:	14,225.838 for Nasdaq, 1,626.191 for Russell, $52.462 for utilities fu, 85% of initial levels
Buffer:	15%
Pricing date:	Jan. 17
Settlement date:	Jan. 22
Agent:	Morgan Stanley & Co. LLC
Fees:	1.875%
Cusip:	61771WNG9

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