FWP Morgan Stanley Finance Form Provided by: Morgan Stanley Finance LLC

FWP Morgan Stanley Finance Form Provided by: Morgan Stanley Finance LLC

The issuer has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus, registration statement and other documents filed by the issuer with the SEC to obtain more complete information about the issuer and this offering. You can obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, the Issuer, any underwriter or any dealer participating in the offering will arrange to send you a prospectus if you request it by calling toll-free at 1-800-584-6837.

Primary index

For more information about the underlying index, including historical performance information, see the accompanying preliminary terms.

Risk considerations

The risks described below are discussed in more detail in the “Risk Factors” section of the accompanying preliminary terms. Please review these risk factors carefully before making an investment decision.

Related risksg to invest in bonds

Bonds do not pay interest and may not pay more than the specified principal amount at maturity.

The market price of banknotes will be affected by many unpredictable factors.

The Notes are subject to our credit risk, and any actual or anticipated changes to our credit ratings or credit spreads could adversely affect the market value of the Notes.

As a financial subsidiary, MSFL does not have independent operations and will have no independent assets.

The estimated value of the securities is approximately $969.60 per security, or within $55.00 of this estimate, and is determined by reference to our pricing and valuation models, which may differ from those of other dealers and do not represent the maximum or minimum secondary market price.

The amount payable on the bonds is not linked to the value of the underlying index at any time other than the determination date.

The rate we are willing to pay for securities of this type and size of maturity and issue is likely to be lower than the rate that our secondary market credit spreads would indicate would be advantageous to us. Both the lower rate and the inclusion of costs associated with issuing, selling, structuring and hedging the bonds in the original issue price reduce the economic terms of the bonds, cause the estimated value of the bonds to be less than the original issue price and will adversely affect secondary market prices.

Investing in notes is not equivalent to investing in the underlying index.

The Notes will not be listed on any securities exchange and secondary trading may be limited.

The Account Agent, an affiliate of Morgan Stanley and an affiliate of MSFL, will make decisions regarding the Notes.

Hedging and trading activity by our subsidiaries could potentially adversely affect the value of the Notes.

risks tCheers to the basic indicator

Modifications to the underlying index could adversely affect the value of the Notes.

Tax considerations

You should carefully review the discussion in the attached Initial Terms under the heading “Additional Information About the Notes—Tax Considerations” regarding the U.S. federal income tax consequences of investing in the Notes, and you should consult your own tax advisor.

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