New Issue: Morgan Stanley prices $693,000 11.5% contingent income autocallables linked to Russell 2000, S&P 500, SPDR S&P Biotech

New York, April 21 – Morgan Stanley Finance LLC priced $693,000 of contingent income autocallable securities due May 31, 2024 linked to the Russell 2000 index, S&P 500 index and SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive a coupon of 11.5%, paid monthly, if each underlier closes at or above its 60% downside threshold on the related monthly observation date, plus any previously unpaid coupons. Previously unpaid coupons will also be paid.

The securities will be called automatically starting Dec. 1, 2022 at par if the level of each underlier is greater than or equal to its initial price on any monthly call determination date.

At maturity the payout will be par unless the worst performing asset closes below its 60% downside threshold level in which case investors will be fully exposed to the decline of the worst performing asset.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Contingent income autocallable securities
Underlying assets:	Russell 2000 index, S&P 500 index and SPDR S&P Biotech ETF
Amount:	$693,000
Maturity:	May 31, 2024
Coupon:	11.5%, paid monthly, if each underlier closes at or above its 60% downside threshold on the related monthly observation date, plus any previously unpaid coupons
Price:	Par
Payout at maturity:	Par unless the worst performing asset closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing asset
Call:	Automatically starting Dec. 1, 2022 at par if the level of each underlier is greater than or equal to its initial price on any monthly call determination date
Initial levels:	1,887.896 for Russell 2000, 4,158.24 for S&P 500, $71.09 for SPDR S&P Biotech ETF
Downside thresholds:	1,132.738 for Russell 2000, 2,494.944 for S&P 500, $42.654 for SPDR S&P Biotech ETF, 60% of initial level
Pricing date:	May 27, 2022
Settlement date:	June 2, 2022
Agent:	Morgan Stanley & Co. LLC
Fees:	2.45%
Cusip:	61774DGJ0

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