New Issue: Morgan Stanley prices $1.25 million 9% fixed income securities on Dow, Walgreens Boots

New York, April 11 – Morgan Stanley Finance LLC priced $1.25 million of fixed income securities due Oct. 9, 2025 linked to the Dow Jones industrial average and Walgreens Boots Alliance, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive a coupon of 9%, paid monthly.

If the worst performing asset finishes at or above the 60% downside threshold, the payout at maturity will be par.

Otherwise, investors will lose 1% for every 1% that the worst performing asset declines from initial level.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Fixed income securities
Underlying assets:	Dow Jones industrial average and Walgreens Boots Alliance, Inc.
Amount:	$1,251,000
Maturity:	Oct. 9, 2025
Coupon:	9%, paid monthly
Price:	Par
Payout at maturity:	If worst performing asset finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
Initial levels:	33,402.38 for Dow Jones industrial average, $35.85 for Walgreens Boots Alliance
Downside threshold:	20,041.428 for Dow Jones industrial average, $21.51 for Walgreens Boots Alliance, 60% of initial level
Strike date:	April 4
Pricing date:	April 5
Settlement date:	April 11
Agent:	Morgan Stanley & Co. LLC
Fees:	0.5%
Cusip:	61774XNM1

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