New Issue: Morgan Stanley prices $548,000 Trigger PLUS linked to S&P 500

By Kiku Steinfeld

Chicago, Jan. 18 – Morgan Stanley Finance LLC priced $548,000 of 0% Trigger PLUS due May 1, 2026 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 107% of the index return. Investors will receive par if the index return is negative but ends at or above the 65% trigger and will lose 1% for every 1% decline if it ends below the trigger level.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Trigger PLUS
Underlying index:	S&P 500 index
Amount:	$548,000
Maturity:	May 1, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 107% of index return; par if index declines but finishes at or above trigger level; 1% loss for every 1% that index declines if it finishes below trigger level
Initial level:	4,169.48
Trigger level:	2,710.162, 65% of initial level
Upside leverage:	107%
Cap:	None
Pricing date:	April 28, 2023
Settlement date:	May 3, 2023
Agent:	Morgan Stanley & Co. LLC
Fees:	0.5%
Cusip:	61774XSJ3

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