New Issue: Morgan Stanley prices $330,000 buffered participation securities tied to S&P, Dow

Chicago, June 13 – Morgan Stanley Finance LLC priced $330,000 of 0% buffered participation securities due Nov. 30, 2027 linked to the worst performing of the S&P 500 index and Dow Jones industrial average 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 1.01 times the return of that index. Investors will receive par if the worst performing index declines by 15% or less and will lose 1% for every 1% that the worst performing index declines 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 participation securities
Underlying indexes:	S&P 500 index and Dow Jones industrial average index
Amount:	$330,000
Maturity:	Nov. 30, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	If return of worst performing index is positive, par plus 1.01 times that index's return; par if worst performing index declines by 15% or less; 1% loss for every 1% that worst performing index declines beyond 15%
Initial levels:	35,804.38 for Dow, 4,701.46 for S&P
Buffer levels:	30,433.723 for Dow, 3,996.241 for S&P, 85% of initial levels
Upside leverage:	101%
Cap:	None
Pricing date:	Nov. 24, 2021
Settlement date:	Nov. 30, 2021
Agent:	Morgan Stanley & Co. LLC
Fees:	3.5%
Cusip:	61773HES4

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