New Issue: Morgan Stanley prices $250,000 dual directional trigger jump notes on S&P

Chicago, May 16 – Morgan Stanley Finance LLC priced $250,000 of 0% dual directional trigger jump securities due June 23, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus the greater of that return and 45%.

If the index declines but by no more than the 85% downside threshold investors will receive par plus the absolute value of the index return. They will lose 1% for every 1% decline if the index ends below its downside threshold.

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 jump securities
Underlying assets:	S&P 500 index
Amount:	$250,000
Maturity:	June 23, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	If index gains par plus greater of index return and 45%; par plus absolute value of index return if index declines but by no more than the 85% downside threshold; 1% loss for every 1% that index declines if it finishes below its downside threshold
Initial levels:	3,674.84
Downside threshold:	3,123.614, 85% of initial level
Upside payment:	45%
Pricing date:	June 17, 2022
Settlement date:	June 23, 2022
Agent:	Morgan Stanley & Co. LLC
Fees:	3.25%
Cusip:	61774DQW0

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