New Issue: Morgan Stanley prices $3.54 million dual directional trigger PLUS linked to Euro Stoxx 50

New York, April 20 – Morgan Stanley Finance LLC priced $3.54 million of 0% dual directional trigger PLUS due May 7, 2026 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 200% of the index return, subject to a maximum return of par plus 57.35%.

Investors will receive a 1% gain for each 1% loss if the index declines but finishes at or above the 80% principal barrier and will lose 1% for every 1% decline if the index ends below its principal barrier.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Dual directional trigger PLUS
Underlying index:	Euro Stoxx 50 index
Amount:	$3,537,000
Maturity:	May 7, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 200% of index return, subject to a maximum return of par plus 57.35%; 1% gain for each 1% loss if index declines but ends at or above principal barrier; otherwise, full exposure to index decline from initial level
Initial level:	4,390.75
Principal barrier:	3,512.60, 80% of initial level
Upside leverage:	200%
Cap:	57.35%
Pricing date:	April 14
Settlement date:	April 19
Agent:	Morgan Stanley & Co. LLC
Fees:	3% including a structuring fee of 0.5%
Cusip:	61774XLX9

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