New Issue: Morgan Stanley prices $2.83 million Buffered PLUS on Dow, S&P

New York, Dec. 11 – Morgan Stanley Finance LLC priced $2.83 million of 0% Buffered PLUS due Dec. 10, 2026 linked to the Dow Jones industrial average and S&P 500 index, 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 125% of the worst performing index return. Investors will receive par if the worst performing index declines by 15% or less and will lose 117.65% of its decline beyond 15%.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered PLUS
Underlying indexes:	Dow Jones industrial average and S&P 500 index
Amount:	$2.83 million
Maturity:	Dec. 10, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If worst performing index gains, par plus 125% of worst performing index return; par if worst performing index declines by 15% or less; 117.65% of decline in worst performing index beyond 15%
Initial levels:	36,124.56 for Dow Jones industrial average, 4,567.18 for S&P 500
Buffer:	15%
Buffer level:	30,705.876 for Dow Jones industrial average, 3,882.103 for S&P 500 index, 85% of initial level
Upside leverage:	125%
Downside leverage:	117.65%
Cap:	None
Pricing date:	Dec. 5
Settlement date:	Dec. 8
Agent:	Morgan Stanley & Co. LLC
Fees:	0.05%
Cusip:	61775M2Z8

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