New Issue: Morgan Stanley prices $16.37 million buffered PLUS linked to index basket

By Wendy Van Sickle

Columbus, Ohio, March 23 – Morgan Stanley Finance LLC priced $16.37 million of 0% buffered Performance Leveraged Upside Securities due May 6, 2025 linked to an equally weighted basket consisting of the S&P 500 index (50% weight), the MSCI EAFE index (30% weight) and the MSCI Emerging Markets index (20% weight), according to a 424B2 filing with the Securities and Exchange Commission.

If the return of basket is greater than its initial value, the payout will be par plus 150% of the basket return,capped at 34.65%.

If the basket falls by up to 15%, the payout will be par.

If the basket falls by more than 15%, investors will lose 1% for every 1% decline of the basket beyond 15%.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered Performance Leveraged Upside Securities
Underlying basket:	S&P 500 index (50% weight), MSCI EAFE index (30% weight) and MSCI Emerging Markets index (20% weight); equal weights
Amount:	$16,366,000
Maturity:	May 6, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If the return of basket is greater than initial value, par plus 150% of basket return, capped at 34.65%; if the basket falls by up to 15%, par; if the basket falls by more than 15%, 1% loss for every 1% decline of the basket beyond 15%
Initial level:	3,916.64 for S&P, 1,986.73 for EAFE, 951.56 for EM
Buffer level:	85% of initial level
Pricing date:	March 17
Settlement date:	March 22
Agent:	Morgan Stanley & Co. LLC
Fees:	0.1%
Cusip:	61774XBR3

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