New Issue: Morgan Stanley prices $674,000 trigger PLUS linked to S&P, Dow

Chicago, Feb. 15 – Morgan Stanley Finance LLC priced $674,000 of 0% trigger PLUS due May 4, 2027 linked to the worst performing of the S&P 500 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

If the return of the worst performing index is positive, the payout at maturity will be par plus 123.5% of the return of the worst performing index. Investors will receive par if the return of the worst performing index is negative but ends at or above the 50% trigger and will lose 1% for every 1% decline if it ends below the trigger level.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Trigger PLUS
Underlying indexes:	S&P 500 index and Dow Jones industrial average
Amount:	$674,000
Maturity:	May 4, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	If return of worst performing index is positive, par plus 123.5% of the gain of the worst performing index; par if worst performing index declines but finishes at or above trigger level; 1% loss for every 1% decline if worst performing index finishes below trigger level
Initial levels:	32,977.21 for Dow, 4,131.93 for S&P
Trigger level:	16,488.605 for Dow, 2,065.965 for S&P, 50% of initial levels
Upside leverage:	123.5%
Cap:	None
Pricing date:	April 29, 2022
Settlement date:	May 4, 2022
Agent:	Morgan Stanley & Co. LLC
Fees:	0.75%
Cusip:	61773QYJ2

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