New Issue: Morgan Stanley sells $250,000 contingent income autocalls on Nasdaq, Russell, Dow

By William Gullotti

Buffalo, N.Y., Oct. 1 – Morgan Stanley Finance LLC priced $250,000 of contingent income autocallable securities due April 27, 2023 tied to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly contingent coupon at the rate of 6.25% per year if each index closes at or above its coupon barrier level, 80% of its initial level, on the observation date that period.

The notes will be automatically called at par if each index closes at or above its initial level on any quarterly call determination date.

If the notes have not been called, the payout at maturity will be par unless any index closes below its 70% downside threshold value during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below 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:	Contingent income autocallable securities
Underlying indexes:	Nasdaq-100 index, Russell 2000 index, Dow Jones industrial average
Amount:	$250,000
Maturity:	April 27, 2023
Coupon:	6.25% per year, payable quarterly if each index closes at or above coupon barrier level on observation date that period
Price:	Par
Payout at maturity:	Par unless any index closes below its downside threshold value during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level
Call:	At par if each index closes at or above its initial level on any quarterly call determination date
Initial levels:	14,940.17 for Nasdaq, 2,199.475 for Russell, 34,823.35 for Dow
Coupon barriers:	11,952.136 for Nasdaq, 1,759.58 for Russell, 27,858.68 for Dow; 80% of initial levels
Downside threshold levels:	10,458.119 for Nasdaq, 1,539.633 for Russell, 24,376.345 for Dow; 70% of initial levels
Pricing date:	July 22
Settlement date:	July 27
Agent:	Morgan Stanley & Co. LLC
Fees:	1.875%
Cusip:	61773FHH9

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