New Issue: Morgan Stanley sells $500,000 contingent income autocalls on indexes, ETF

Chicago, Dec. 5 – Morgan Stanley Finance LLC priced $500,000 of contingent income autocallable securities due Nov. 26, 2024 linked to the worst performing of the S&P 500 index, the Nasdaq-100 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If each underlier closes at or above its coupon threshold level, 70% of its initial level, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 6.9%.

After one year, the notes will be called at par plus the contingent coupon if each underlier closes at or above the initial share price on any quarterly determination date other than the final determination date.

If each underlier closes at or above its 55% downside threshold level, the payout at maturity will be par plus any final contingent coupon. Otherwise, investors will have full exposure to the performance of the lesser 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
Underliers:	S&P 500 index, the Nasdaq-100 index and the iShares MSCI Emerging Markets ETF
Amount:	$500,000
Maturity:	Nov. 26, 2024
Coupon:	6.9% per year, payable quarterly if each underlier closes at or above coupon threshold level on determination date for that quarter
Price:	Par
Payout at maturity:	If each underlier closes at or above its downside threshold level, par plus the final contingent coupon; otherwise, investors will have full exposure to the performance of the lesser performing asset
Call:	After one year, at par plus contingent coupon if each underlier closes at or above initial level on any quarterly determination date
Initial levels:	3,103.54 for S&P, 8,265.618 for Nasdaq, $42.87 for ETF
Coupon thresholds:	2,172.478 for S&P, 5,785.933 for Nasdaq, $30.009 for ETF, or 70% of initial levels
Downside thresholds:	1,706.947 for S&P, 4,546.090 for Dow, $23.579 for ETF, or 55% of initial levels
Pricing date:	Nov. 21
Settlement date:	Nov. 26
Agent:	Morgan Stanley & Co. LLC
Fees:	1.025%
Cusip:	61769HU37

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