New Issue: Morgan Stanley prices $1.26 million enhanced buffered jump notes on Dow, S&P

Chicago, July 28 – Morgan Stanley Finance LLC priced $1.26 million of 0% enhanced buffered jump securities due July 24, 2026 linked to the worst performing of the Dow Jones industrial average and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the worst performing index gains or ends above the 80% downside threshold the payout at maturity will be par plus the greater of the worst performing index return and 11.5%.

Investors will lose 1% for every 1% that the worst performing index declines beyond the 20% buffer amount.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Enhanced buffered jump securities
Underlying indexes:	Dow Jones industrial average and S&P 500 index
Amount:	$1,262,000
Maturity:	July 24, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If worst performing index finishes at or above downside threshold level, par plus greater of the worst performing index return and 11.5%; 1% loss for every 1% that worst performing index declines beyond the buffer amount
Initial levels:	35,227.69 for Dow, 4,536.34 for S&P
Downside thresholds:	28,182.152 for Dow, 3,629.072 for S&P, 80% of initial levels
Upside payment:	11.5%
Buffer:	20%
Pricing date:	July 21
Settlement date:	July 26
Agent:	Morgan Stanley & Co. LLC
Fees:	0.65%
Cusip:	61775HLQ8

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