New Issue: Morgan Stanley prices $1.80 million Trigger PLUS linked to two S&P indexes, Dow

New York, April 22 – Morgan Stanley Finance LLC priced $1.80 million of 0% Trigger PLUS due April 13, 2028 linked to the Dow Jones industrial average, the S&P 500 Growth index and the S&P 500 index, 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 150% of the return of that index.

Investors will receive par if the return of the worst performing index is negative but ends at or above the 70% 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:	Dow Jones industrial average, S&P 500 Growth index and S&P 500 index
Amount:	$1,801,000
Maturity:	April 13, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	If return of worst performing index is positive, par plus 150% of the gain of that index; par if worst performing index declines but finishes at or above trigger level; otherwise, 1% loss for every 1% decline of worst performing index from initial level
Initial levels:	38,461.51 for Dow Jones industrial average, 3,379.220 for S&P 500 Growth, 5,160.64 for S&P 500
Trigger level:	26,923.057 for Dow Jones industrial average, 2,365.454 for S&P 500 Growth, 3,612.448 for S&P 500, 70% of initial levels
Upside leverage:	150%
Pricing date:	April 10
Settlement date:	April 15
Agent:	Morgan Stanley & Co. LLC
Fees:	0.06%
Cusip:	61776LSD0

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