New Issue: Morgan Stanley prices $551,000 commodity-linked notes on basket

Chicago, June 14 – Morgan Stanley Finance LLC priced $551,000 of 0% commodity-linked notes due July 3, 2025 linked to the performance of an equally-weighted basket of eight commodities, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of West Texas Intermediate light sweet crude oil futures contracts, Brent crude oil, natural gas futures, corn, soybeans, wheat, copper and zinc.

The payout at maturity will be par plus 1.4 times the basket return if the basket return is positive. Otherwise, investors will receive par.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Commodity-linked notes
Underlying assets:	West Texas Intermediate light sweet crude oil futures contracts, Brent crude oil, natural gas, corn, soybeans, wheat, copper, zinc; equal weights
Amount:	$551,000
Maturity:	July 3, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.4 times basket return, if basket return is positive; otherwise, par
Initial prices:	$105.76 for WTI, $109.03 for Brent, $5.424 for natural gas, $6.2875 for corn, $15.605 for soybeans, $8.84 for wheat, $8,245 for copper, $3,251.50 for zinc
Pricing date:	June 30, 2022
Settlement date:	July 6, 2022
Agent:	Morgan Stanley & Co. LLC
Fees:	1.75%
Cusip:	61773QWF2

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