New Issue: Morgan Stanley prices $921,000 trigger PLUS linked to Nasdaq, S&P

By Wendy Van Sickle

Columbus, Ohio, Dec. 7 – Morgan Stanley Finance LLC priced $921,000 of 0% trigger Performance Leveraged Upside Securities due Nov. 28, 2025 linked to the worst performing of the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If each index finishes above its initial level, the payout at maturity will be par plus 300% of the gain of the worst performing index up to a maximum payout of par plus 41%.

If either index falls but each remains at or above the 70% trigger level, the payout will be par.

Otherwise, investors will be fully exposed to the losses of the worst performing index.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Trigger Performance Leveraged Upside Securities
Underlying indexes:	Nasdaq-100 index and S&P 500 index
Amount:	$921,000
Maturity:	Nov. 28, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If the worst-performing index gains, par plus 300% of the return of the worst performing index, up to par plus 41%; if either index falls but neither finishes below its trigger level, par; otherwise, full exposure to the losses of the worst performing index
Initial levels:	3,635.41 for S&P, 12,079.81 for Nasdaq
Trigger levels:	2,554.787 for S&P, 8,455.867 for Nasdaq; 70% of initial level
Pricing date:	Nov. 24
Settlement date:	Nov. 30
Agent:	Morgan Stanley & Co. LLC
Fees:	4.138%
Cusip:	61771EGS1

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