New Issue: Morgan Stanley prices $883,000 dual direction trigger PLUS tied to S&P, Dow

By Susanna Moon

Chicago, Oct. 30 – Morgan Stanley Finance LLC priced $883,000 of 0% dual directional trigger Performance Leveraged Upside Securities due Oct. 20, 2023 linked to the worse performing of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filed with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If each underlying index finishes above its initial level, the payout at maturity will be par plus 127.5% of the gain of the worse performing index.

If either index falls by up to 40%, the payout will be par plus the absolute value of the return of the worse performing index.

Otherwise, investors will be fully exposed to any losses of the worse performing index.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Dual directional trigger Performance Leveraged Upside Securities
Underlying indexes:	S&P 500, Dow Jones industrial average
Amount:	$883,000
Maturity:	Oct. 20, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If each index gains, par plus 127.5% of return of the worse performing index; if either index falls by up to 40%, par plus absolute return of the worse performing index; otherwise, 1% loss per 1% decline of the worse performing index
Initial levels:	2,809.21 for S&P, 25,706.68 for Dow
Trigger levels:	1,685.526 for S&P, 15,424.008 for Dow, 60% of initial levels
Pricing date:	Oct. 17
Settlement date:	Oct. 22
Agent:	Morgan Stanley & Co. LLC
Fees:	1%
Cusip:	61768DHW8

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