New Issue: Morgan Stanley prices $286,000 commodity-linked notes on basket of eight

Chicago, Oct. 16 – Morgan Stanley Finance LLC priced $286,000 of 0% commodity-linked notes due Aug 4, 2025 linked to the performance of an equally-weighted basket of eight commodities, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of West Texas Intermediate light sweet crude oil futures contracts, Brent crude oil, RBOB gasoline, natural gas, corn, soybeans, copper and gold.

The payout at maturity will be par plus double the basket return if positive, capped at par plus 25%. Otherwise, investors will be fully exposed to the basket decline.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Commodity-linked notes
Underlying assets:	West Texas Intermediate light sweet crude oil futures contracts, Brent crude oil, RBOB gasoline, natural gas, corn, soybeans, copper and gold; equal weights
Amount:	$286,000
Maturity:	Aug. 4, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus basket return if positive; otherwise, par
Initial prices:	$79.49 for WTI, $85.14 for Brent, $2.3698 for RBOB, $6.766 for natural gas, $6.775 for corn, $13.6475 for soybeans, $7,647 for copper, $1,671.75 for gold
Pricing date:	Sept. 30, 2022
Settlement date:	Oct. 5, 2022
Agent:	Morgan Stanley & Co. LLC
Fees:	3%
Cusip:	61774FAF9

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