New Issue: Morgan Stanley prices $912,000 autocallable jump securities on indexes

Chicago, May 24 – Morgan Stanley Finance LLC priced $912,000 of jump securities with autocallable feature due July 2, 2027 linked to the worst performing of the S&P 500 index, Dow Jones industrial average and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The securities will be called automatically starting June 30, 2023 at a price to give a return of 11.5% per year if the level of each underlying index is greater than or equal to 92% of its initial level on any semiannual determination date.

At maturity the payout will be par plus 57.5% if the worst performing underlier finishes above 92% of its initial level.

The payout will be par if worst performing index finishes below 92% of its initial level but above its 75% trigger level. Investors will be fully exposed to the decline of worst performing index if it finishes below its 75% 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:	Jump securities with autocallable feature
Underlying indexes:	S&P 500 index, Dow Jones industrial average and Russell 2000 index
Amount:	$912,000
Maturity:	July 2, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 57.5% if worst performing index finishes above its call threshold level; par if worst performing index finishes below 92% of its initial level but above 75% trigger level; otherwise, full exposure to decline of worst performing index
Call:	Automatically starting June 30, 2023 at a price to give a return of 11.5% per year if the level of each underlying index is greater than or equal to 92% of its initial level on any semiannual determination date
Initial levels:	31,029.31 for Dow, 1,719.370 for Russell, 3,818.83 for S&P
Call threshold levels:	28,546.965 for Dow, 1,581.820 for Russell, 3,513.324 for S&P, 92% of initial levels
Downside thresholds:	23,271.983 for Dow, 1,289.528 for Russell, 2,864.123 for S&P, 75% of initial level
Pricing date:	June 29, 2022
Settlement date:	July 5, 2022
Agent:	Morgan Stanley & Co. LLC
Fees:	2%
Cusip:	61774DST5

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