New Issue: Morgan Stanley prices $4.98 million 8.75% fixed income securities tied to index, stock

New York, April 23 – Morgan Stanley Finance LLC priced $4.98 million of fixed income securities due Aug. 17, 2026 linked to the S&P 500 index and State Street Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive a coupon of 8.75%, 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 its 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:	S&P 500 index and State Street Corp.
Amount:	$4,976,000
Maturity:	Aug. 17, 2026
Coupon:	8.75%, 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:	5,123.41 for S&P 500, $75.78 for State Street
Downside thresholds:	3,074.046 for S&P 500, $45.468 for State Street, 60% of initial levels
Strike date:	April 12
Pricing date:	April 17
Settlement date:	April 22
Agent:	Morgan Stanley & Co. LLC
Fees:	0.4%
Cusip:	61776LWP8

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