New Issue: Morgan Stanley prices $2.09 million dual directional trigger PLUS on S&P, Russell, Dow

By Kiku Steinfeld

Chicago, Jan. 2 – Morgan Stanley Finance LLC priced $2.09 million of 0% dual directional trigger performance leveraged upside securities due Dec. 3, 2026 linked to the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 135% of any gain in the return of the worst performing index. Investors will receive par plus the absolute return of the worst performing index if it declines but finishes at or above its 70% principal barrier level. Otherwise, investors will lose 1% for every 1% decline of the worst performing index.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Dual directional trigger performance leveraged upside securities
Underlying indexes:	S&P 500 index, Russell 2000 index and Dow Jones industrial average
Amount:	$2,093,000
Maturity:	Dec. 3, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 135% of any gain in least performing index; par plus absolute return of worst performer if it declines but not below principal barrier level; otherwise, full exposure to loss of worst performing index
Initial levels:	34,483.72 for Dow, 2,198.908 for Russell, 4,567.00 for S&P
Principal barriers:	24,138.604 for Dow, 1,539.236 for Russell, 3,196.90 for S&P, 70% of initial levels
Pricing date:	Nov. 30
Settlement date:	Dec. 3
Agent:	Morgan Stanley & Co. LLC
Fees:	0.75%
Cusip:	61773HBM0

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