New Issue: Morgan Stanley prices $1.06 million dual directional trigger PLUS linked to S&P 500

New York, June 29 – Morgan Stanley Finance LLC priced $1.06 million of 0% dual directional trigger PLUS due Dec. 29, 2028 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 117% of the index return.

Investors will receive a 1% gain for each 1% loss if the index declines but finishes at or above the 75% principal barrier and will lose 1% for every 1% decline if the index ends below its principal barrier.

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 PLUS
Underlying index:	S&P 500 index
Amount:	$1,058,000
Maturity:	Dec. 29, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 117% of index return; 1% gain for each 1% loss if index declines but ends at or above principal barrier; otherwise, full exposure to decline of index from initial level
Initial level:	4,348.33
Principal barrier:	3,261.248, 75% of initial level
Upside leverage:	117%
Pricing date:	June 23
Settlement date:	June 28
Agent:	Morgan Stanley & Co. LLC
Fees:	3%
Cusip:	61774X5A7

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