New Issue: Morgan Stanley prices $250,000 accelerated return securities linked to S&P 500

Chicago, Dec. 11 – Morgan Stanley Finance LLC priced $250,000 of 0% accelerated return securities due Nov. 2, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the return of the index is positive, the payout at maturity will be par plus 129% of the index return. Investors will receive par if the index declines but finishes above 90% of its initial level. Otherwise, investors will lose 1% for every 1% that the index declines beyond the buffer.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Accelerated return securities
Underlying index:	S&P 500 index
Amount:	$250,000
Maturity:	Nov. 2, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	If return of index is positive, par plus 129% of index return; par if index declines but finishes above buffer; otherwise, 1% loss for every 1% that index declines beyond buffer
Initial level:	3,901.06
Buffer level:	3,510.954, 90% of initial level
Upside leverage:	129%
Cap:	None
Pricing date:	Oct. 28, 2022
Settlement date:	Nov. 2, 2022
Agent:	Morgan Stanley & Co. LLC
Fees:	2%
Cusip:	61774HSV1

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