New Issue: Morgan Stanley prices $707,000 buffered participation securities linked to S&P

Chicago, May 17 – Morgan Stanley Finance LLC priced $707,000 of 0% buffered participation securities due Sept. 27, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus the index return subject to a maximum return of par plus 13.7%. Investors will receive par if the index declines by 20% or less and will lose 1% for every 1% that it declines beyond 20%.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered participation securities
Underlying index:	S&P 500 index
Amount:	$707,000
Maturity:	Sept. 27, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus index return subject to a maximum return of par plus 13.7%; par if index declines by 20% or less; 1% loss for every 1% that index declines beyond 20%
Initial level:	3,759.89
Buffer level:	3,007.912, 80% of initial level
Buffer:	20%
Upside leverage:	100%
Cap:	13.7%
Pricing date:	June 22, 2022
Settlement date:	June 27, 2022
Agent:	Morgan Stanley & Co. LLC
Fees:	0.6%
Cusip:	61774DJY4

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