New Issue: Morgan Stanley prices $1.54 million Buffered PLUS linked to Energy Select Sector

New York, Nov. 17 – Morgan Stanley Finance LLC priced $1.54 million of 0% Buffered PLUS due Oct. 29, 2026 linked to the Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the return of the ETF is positive, the payout at maturity will be par plus 200% of the ETF return subject to a maximum return of par plus 54%. Investors will receive par if the ETF declines by 40% or less and will lose 1% for every 1% that it declines beyond 40%.

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 ETF:	Energy Select Sector SPDR Fund
Amount:	$1,544,000
Maturity:	Oct. 29, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF gains, par plus 200% of ETF return subject to a maximum return of par plus 54%; par if ETF declines by 40% or less; 1% loss for every 1% that ETF declines beyond 40%
Initial level:	$86.71
Buffer:	40%
Buffer level:	$52.026, 60% of initial level
Upside leverage:	200%
Cap:	54%
Pricing date:	Oct. 26
Settlement date:	Oct. 31
Agent:	Morgan Stanley & Co. LLC
Fees:	0.2%
Cusip:	61775MNV4

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