New Issue: Morgan Stanley prices $6.1 million autocallable jump securities on S&P, Dow, Russell

New York, May 27 – Morgan Stanley Finance LLC priced $6.1 million of jump securities with autocallable feature due May 25, 2027 linked to the S&P 500 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The securities will be called automatically at par plus 11.75% per year starting May 25, 2023 if the level of each underlying index is greater than or equal to 90% of its initial level on any quarterly call determination date.

At maturity, if the worst performing underlier finishes at or above 90% of its initial level, the payout will be par plus 58.75%.

The payout will be par if worst performing index finishes below 90% of its initial level but at or above its 75% trigger level. Otherwise, investors will be fully exposed to the decline of worst performing index 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 indexes:	S&P 500 index, Dow Jones industrial average and Russell 2000 index
Amount:	$6,097,000
Maturity:	May 25, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 58.75% if worst performing index finishes at or above its call threshold level; par if worst performing index finishes below 90% of its initial level but at or above 75% trigger level; otherwise, full exposure to decline of worst performing index
Call:	Starting May 25, 2023, automatically at par plus 11.75% per year if the level of each underlying index is greater than or equal to 90% of its initial level on any quarterly call determination date
Initial levels:	31,261.90 for Dow Jones industrial average, 1,773.266 for Russell 2000, 3,901.36 for S&P 500
Downside thresholds:	23,446.425 for Dow Jones industrial average, 1,329.950 for Russell 2000, 2,926.02 for S&P 500, 75% of initial level
Call threshold:	28,135.71 for Dow Jones industrial average, 1,595.939 for Russell 2000 index, 3,511.224 for S&P 500 index, 90% of the initial levels
Pricing date:	May 20
Settlement date:	May 25
Agent:	Morgan Stanley & Co. LLC
Fees:	0%
Cusip:	61773Q6L8

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