By Sarah Lizee
Olympia, Wash., Jan. 29 – Morgan Stanley Finance LLC priced $1.47 million of 0% buffered Performance Leveraged Upside Securities due Feb. 2, 2026 linked to the worst performing of the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of each index is greater than its initial level, the payout at maturity will be par plus 123% of the return of the lesser-performing index.
If the final level of either index is less than or equal to its initial level but the final level of each index is greater than or equal to 80% of its initial level, the payout will be par.
If the final level of either index is less than 80% of its initial level, investors will lose 1% for every 1% that the lesser-performing index declines beyond 20%.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Buffered Performance Leveraged Upside Securities
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| Underlying indexes: | Dow Jones industrial average and S&P 500
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| Amount: | $1,473,000
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| Maturity: | Feb. 2, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of each index is greater than initial level, par plus 123% of return of lesser-performing index; if final level of either index is less than or equal to initial level but final level of each index is greater than or equal to 80% of initial level, par; if final level of either index is less than 80% of initial level, 1% loss for every 1% that lesser-performing index declines beyond 20%
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| Initial levels: | 28,989.73 for Dow industrials and 3,295.47 for S&P 500
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| Buffer levels: | 23,191.784 for Dow industrials and 2,636.376 for S&P 500, or 80% of initial levels
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| Pricing date: | Jan. 24
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| Settlement date: | Jan. 31
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.25%
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| Cusip: | 61770FEK8
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