New Issue: Morgan Stanley prices $1 million Trigger PLUS linked to S&P, Dow

New York, May 31 – Morgan Stanley Finance LLC priced $1 million of 0% Trigger PLUS due May 29, 2029 linked to the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

If the return of the worst performing index is positive, the payout at maturity will be par plus 180% of the return of that index.

Investors will receive par if the return of the worst performing index is negative but ends at or above the 90% trigger and will lose 1% for every 1% decline if it ends below the trigger level.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Trigger PLUS
Underlying indexes:	S&P 500 index and Dow Jones industrial average
Amount:	$1 million
Maturity:	May 29, 2029
Coupon:	0%
Price:	Par
Payout at maturity:	If return of worst performing index is positive, par plus 180% of the gain of that index; par if worst performing index declines but finishes at or above trigger level; otherwise, 1% loss for every 1% decline of worst performer from initial level
Initial levels:	31,880.24 for Dow Jones industrial average, 3,973.75 for S&P 500
Trigger level:	28,692.216 for Dow Jones industrial average, 3,576.375 for S&P 500, 90% of initial level
Upside leverage:	180%
Cap:	None
Strike date:	May 23
Pricing date:	May 24
Settlement date:	May 27
Agent:	Morgan Stanley & Co. LLC
Fees:	0.25%
Cusip:	61774DHE0

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