New Issue: Morgan Stanley prices $575,000 trigger jump securities on index, ETF

By Kiku Steinfeld

Chicago, June 5 – Morgan Stanley Finance LLC priced $575,000 of 0% trigger jump securities due Jan. 27, 2028 linked to the S&P 500 Value index and iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If the return of the worst performing asset is positive, the payout at maturity will be par plus the greater of that asset's return and 56%. Investors will receive par if the worst performing asset declines but finishes at or above the 70% trigger level and will lose 1% for every 1% that the worst performing asset declines if it finishes 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 jump securities
Underlying assets:	S&P 500 Value index and iShares Russell 2000 Value ETF
Amount:	$575,000
Maturity:	Jan. 27, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	If return of worst performing asset is positive, par plus greater of return of worst performer and 56%; par if worst performing asset declines but finishes at or above trigger level; 1% loss for every 1% that worst performing asset declines if it finishes below trigger level
Initial levels:	1,508.67 for index, $147.88 for ETF
Upside payment:	56%
Trigger levels:	1,056.069 for index, $103.516 for ETF, 70% of initial levels
Pricing date:	Jan. 24, 2023
Settlement date:	Jan. 27, 2023
Agent:	Morgan Stanley & Co. LLC
Fees:	0.625%
Cusip:	61774TRS3

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