New Issue: Morgan Stanley prices $1.88 million accelerated return securities linked to Dow

New York, Dec. 6 – Morgan Stanley Finance LLC priced $1.88 million of 0% accelerated return securities due Dec. 3, 2027 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

If the return of the index is positive, the payout at maturity will be par plus 111% of the index return.

Investors will receive par if the index declines up to 20% and will lose 1% for every 1% decline beyond 20%.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Accelerated return securities
Underlying index:	Dow Jones industrial average
Amount:	$1,881,000
Maturity:	Dec. 3, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	If return of index is positive, par plus 111% of index return; if index falls by no more than 20%, par; otherwise, 1% loss for every 1% that index declines beyond 20%
Initial level:	34,589.77
Buffer level:	27,671.816, or 80% of initial level
Upside leverage:	111%
Pricing date:	Nov. 30
Settlement date:	Dec. 5
Agent:	Morgan Stanley & Co. LLC
Fees:	3%
Cusip:	61774H4E5

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