New Issue: Morgan Stanley prices $1.2 million Buffered PLUS linked to S&P 500

New York, May 6 – Morgan Stanley Finance LLC priced $1.2 million of 0% Buffered PLUS due April 30, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 120% of the index return.

If the index declines up to 15%, investors will lose 1% for every 1% decline to a minimum payment of 90% of par. Otherwise, investors will lose 1% for every 1% decline of the index beyond 15%.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered PLUS
Underlying index:	S&P 500 index
Amount:	$1,203,000
Maturity:	April 30, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 120% of index return; if index declines up to 15%, lose 1% for every 1% decline to a minimum payment of 90% of par; otherwise, 1% loss for every 1% that index declines beyond 15%
Initial level:	4,183.96
Buffer level:	85% of initial level
Upside leverage:	120%
Cap:	None
Pricing date:	April 27
Settlement date:	May 2
Agent:	Morgan Stanley & Co. LLC
Fees:	0.5%
Cusip:	61773QZ28

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