New Issue: Morgan Stanley prices $1.59 million contingent income autocalls tied to Stoxx, Russell

By Wendy Van Sickle

Columbus, Ohio, March 20 – Morgan Stanley Finance LLC priced $1.59 million of contingent income autocallable securities due March 21, 2028 linked to the least performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly coupon at an annualized rate of 10.75% for the first year. After that they will pay a contingent quarterly coupon at an annualized rate of 10.75% for that quarter plus for any previous quarter during which no coupon was paid if each index closes at or above its initial level on a quarterly determination date.

The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any call review date after a year.

The payout at maturity will be par unless either index finishes below its 50% downside threshold, in which case investors will be fully exposed to any losses of the worst performing index.

The guarantor is Morgan Stanley.

Morgan Stanley & Co. LLC and UBS Financial Services Inc. are the agents.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Contingent income autocallable securities
Underlying indexes:	Russell 2000, Euro Stoxx 50
Amount:	$1,587,000
Maturity:	March 21, 2028
Coupon:	10.75%, payable quarterly for the first year, then payable quarterly on a contingent basis if each if each index closes at or above initial level on determination date for that quarter; coupon will also be paid for any previous quarter during which no coupon was paid if indexes close above initial level on a quarterly determination date
Price:	Par
Payout at maturity:	If each index finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline of worse performing index
Call:	At par if each index closes at or above initial level on any quarterly call date after a year
Initial levels:	3,437.4 for Stoxx, 1,586.048 for Russell
Downside thresholds:	1,718.70 for Stoxx, 793.024 for Russell; 50% of initial levels
Pricing date:	March 16
Settlement date:	March 21
Agent:	Morgan Stanley & Co. LLC with Morgan Stanley Wealth Management as a distributor
Fees:	0.25%
Cusip:	61768CL88

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