New Issue: Morgan Stanley prices $6.76 million 7.8% fixed income buffered securities on index, ETF

New York, April 23 – Morgan Stanley Finance LLC priced $6.76 million of fixed income buffered securities due July 18, 2025 linked to the S&P 500 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive a coupon of 7.8%, paid monthly.

If the worst performing asset finishes at or above 80% of initial level, the payout at maturity will be par. Otherwise, investors will lose 1.25% for every 1% that the worst performing asset declines beyond 20%.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Fixed income buffered securities
Underlying assets:	S&P 500 index and iShares MSCI EAFE ETF
Amount:	$6,755,000
Maturity:	July 18, 2025
Coupon:	7.8%, paid monthly
Price:	Par
Payout at maturity:	If worst performing asset finishes at or above its buffer, par; otherwise, 1.25% loss for every 1% that worst performing asset declines beyond 20%
Initial levels:	$77.01 for iShares MSCI EAFE ETF, 5,061.82 for S&P 500
Buffer:	20%
Strike date:	April 15
Pricing date:	April 17
Settlement date:	April 22
Agent:	Morgan Stanley & Co. LLC
Fees:	0%
Cusip:	61776LA31

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