New Issue: Morgan Stanley prices $1.14 million contingent income autocalls on two SPDR ETFs, S&P

New York, Nov. 15 – Morgan Stanley Finance LLC priced $1.14 million of contingent income autocallable securities due Nov. 4, 2024 linked to the S&P 500 index, the Utilities Select Sector SPDR Fund and the Health Care Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive a coupon of 12.4%, paid quarterly, if each underlier closes at or above its 70% downside threshold on the related quarterly observation date.

The securities will be automatically called at par if the closing level of each underlier is greater than or equal to its initial level on any quarterly call determination date starting May 4, 2023.

At maturity, the payout will be par unless the worst performing asset finishes below its 70% downside threshold level, in which case investors will be fully exposed to the decline of the worst performing asset.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Contingent income autocallable securities
Underlying assets:	S&P 500 index, Utilities Select Sector SPDR Fund and Health Care Select Sector SPDR Fund
Amount:	$1,135,000
Maturity:	Nov. 4, 2024
Coupon:	12.4%, paid quarterly, if each underlier closes at or above its 70% downside threshold on the related quarterly observation date
Price:	Par
Payout at maturity:	Par unless the worst performing asset finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing asset
Call:	Automatically at par if the closing level of each underlier is greater than or equal to its initial level on any quarterly call determination date starting May 4, 2023
Initial levels:	3,871.98 for S&P 500, $66.78 for Utilities Select Sector SPDR Fund, $132.75 for Health Care Select Sector SPDR Fund
Downside thresholds:	2,710.386 for S&P 500, $46.746 for Utilities Select Sector SPDR Fund, $92.925 for Health Care Select Sector SPDR Fund, 70% of initial level
Pricing date:	Oct. 31
Settlement date:	Nov. 3
Agent:	Morgan Stanley & Co. LLC
Fees:	1.75%
Cusip:	61774HYM4

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