New Issue: Morgan Stanley prices $1.97 million dual directional trigger participation securities

New York, March 8 – Morgan Stanley Finance LLC priced $1.97 million of 0% dual directional trigger participation securities due Aug. 31, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index gains, the payout at maturity will be par plus the return of the index.

Investors will receive par plus the absolute value of the index return if the index declines but ends at or above its 77.5% trigger and will lose 1% for every 1% that the index declines if it finishes below its trigger.

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 participation securities
Underlying index:	S&P 500 index
Amount:	$1,973,000
Maturity:	Aug. 31, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	If index gains, par plus index return; par plus absolute value of index return if index declines but ends at or above the 77.5% trigger; otherwise, 1% loss for every 1% that index declines from initial level
Initial level:	5,069.53
Trigger level:	3,928.886, 77.5% of initial level
Pricing date:	Feb. 26
Settlement date:	Feb. 29
Agent:	Morgan Stanley & Co. LLC
Fees:	2.25%
Cusip:	61771WB23

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