New Issue: Morgan Stanley sells $617,000 contingent income autocalls on three funds

Chicago, Oct. 16 – Morgan Stanley Finance LLC priced $617,000 of market-linked securities that are autocallable with contingent coupon and contingent downside due Sept. 29, 2025 linked to the Energy Select Sector SPDR fund, the Technology Select Sector SPDR fund and the Health Care Select Sector SPDR fund, according to a 424B2 filed with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 18% if each underlying asset closes at or above its 70% coupon barrier on the observation date for that quarter.

The notes will be called at par if each fund closes at or above its initial level on any quarterly review date starting after six months.

The payout at maturity will be par unless either underlying asset finishes below its 70% downside threshold, in which case investors will be fully exposed to any losses of the worst performing fund.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC are the agents.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Market-linked securities – autocallable with contingent coupon and contingent downside
Underlying funds:	Energy Select Sector SPDR fund, the Technology Select Sector SPDR fund and Health Care Select Sector SPDR fund
Amount:	$617,000
Maturity:	Sept. 29, 2025
Coupon:	18 % annualized, payable quarterly if each asset closes at or above 70% coupon barrier on review date for that quarter
Price:	Par
Payout at maturity:	If each asset finishes at or above 70% downside threshold, par; otherwise, 1% loss for each 1% decline of worst performing fund
Call:	At par if each fund closes at or above its initial level on any quarterly call date starting after six months
Initial levels:	$72.02 for energy, $118.78 for technology, $121.11 for health care
Downside thresholds:	$50.414 for energy, $83.146 for technology, $84.777 for health care, 70% of initial levels
Pricing date:	Sept. 30, 2022
Settlement date:	Oct. 5, 2022
Agent:	Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC
Fees:	2.125%
Cusip:	61774FFX5

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