New Issue: Morgan Stanley prices $500,000 7% fixed income securities linked to S&P, Nasdaq

New York, Dec. 28 – Morgan Stanley Finance LLC priced $500,000 of fixed income securities due Oct. 30, 2023 linked to the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive a coupon of 7%, paid quarterly.

If the worst performing index finishes at or above the 70% downside threshold, the payout at maturity will be par.

Otherwise, investors will lose 1% for every 1% that the worst performing index 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 indexes:	S&P 500 index and Nasdaq-100 index
Amount:	$500,000
Maturity:	Oct. 30, 2023
Coupon:	7%, paid quarterly
Price:	Par
Payout at maturity:	If worst performing index finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
Initial levels:	13,533.22 for Nasdaq-100, 4,296.12 for S&P 500
Downside threshold:	9,473.254 for Nasdaq-100, 3,007.284 for S&P 500, 70% of initial level
Strike date:	April 25
Pricing date:	April 28
Settlement date:	May 3
Agent:	Morgan Stanley & Co. LLC
Fees:	1.75%
Cusip:	61773Q4M8

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