New Issue: Morgan Stanley sells $865,000 trigger PLUS on basket of index, ETFs

By Kiku Steinfeld

Chicago, Feb. 24 – Morgan Stanley Finance LLC priced $865,000 of 0% trigger Performance Leveraged Upside Securities due Nov. 22, 2027 linked a weighted basket of one index and two exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Morgan Stanley.

The basket consists of the of the S&P 500 index (50% weight), the Financial Select Sector SPDR fund (25% weight) and the Energy Select Sector SPDR fund (25% weight).

If the basket finishes above its initial level, the payout at maturity will be par of $10 plus 1.47 times the gain.

Investors will receive par if the basket falls by up to 20% and will be fully exposed to any losses if the basket finishes below its 80% trigger level.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Trigger Performance Leveraged Upside Securities
Basket:	S&P 500 index (50% weight), Financial Select Sector SPDR fund (25% weight) and Energy Select Sector SPDR fund (25% weight)
Amount:	$865,000
Maturity:	Nov. 22, 2027
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 147% of any basket gain; if basket falls by up to 20%, par; otherwise, 1% loss per 1% basket decline
Initial levels:	3,946.56 for S&P, $92.36 for Energy, $35.08 for Financial
Triggers:	80% of initial levels
Pricing date:	Nov. 17, 2022
Settlement date:	Nov. 22, 2022
Agent:	Morgan Stanley & Co. LLC
Fees:	0%
Cusip:	61774HS58

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