New Issue: Morgan Stanley sells $3.24 million market-linked leveraged upside participation notes

By William Gullotti

Buffalo, N.Y., Jan. 12 – Morgan Stanley Finance LLC priced $9.415 million of 0% market-linked securities – leveraged upside participation and contingent downside due Dec. 2, 2026 linked to the Euro Stoxx 50 index and the Stoxx Europe 600 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index’s final level is greater than its initial level, payout at maturity will be par plus 255% of the least performing index’s return.

Investors will receive par if any index falls by up to 25%. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.

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

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Market-linked securities – leveraged upside participation and contingent downside
Underlying indexes:	Euro Stoxx 50 index, Stoxx Europe 600 index
Amount:	$3,243,000
Maturity:	Dec. 2, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If each index finishes at or above initial level, par plus 255% of the return of the least performing index; par if any index falls by up to 25%; otherwise, full exposure to decline of worst performer from its initial level
Initial levels:	4,109.51 for Stoxx 50, 467.24 for Europe 600
Threshold levels:	3,082.1325 for Stoxx 50, 350.43 for Europe 600; 75% of initial level
Pricing date:	Nov. 29
Settlement date:	Dec. 2
Agents:	Wells Fargo Securities LLC and Morgan Stanley & Co. LLC
Fees:	3.62%
Cusip:	61773HBY4

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