Callable Section Earnings Stocks due July 18, 2024

Repayments on the Stocks Based Upon the most awful Carrying Out of the NASDAQ-100 Index®, the Russell 2000® Index and also the S&P 500® Index

Completely and also Unconditionally Ensured by Morgan Stanley

Principal in jeopardy Stocks

The protections used are unprotected commitments of Morgan Stanley Money LLC (“MSFL”) and also are completely and also unconditionally assured by Morgan Stanley. The protections have actually the terms defined in the coming with program supplement, index supplement and also program, as supplemented or customized by this record. The protections do not ensure the settlement of principal and also do not attend to the normal settlement of passion. Rather, the protections will certainly pay a contingent month-to-month voucher yet just if the index closing worth of each of the NASDAQ-100 Index®, the Russell 2000® Index and also the S&P 500® Index on the associated monitoring day is at or over 60% of its particular first index worth, which we describe as the particular voucher obstacle degree. If the index closing worth of any type of hidden index is much less than the voucher obstacle degree for such index on any type of monitoring day, we will certainly pay no voucher for the associated month-to-month duration. On top of that, starting on July 18, 2023, we will certainly retrieve the protections on any type of quarterly redemption day, for a redemption settlement equivalent to the amount of the specified principal quantity plus any type of contingent month-to-month voucher or else due relative to the associated monitoring day, if and also just if the outcome of a danger neutral appraisal version on a service day that goes to the very least 2 yet no greater than 5 organization days before such redemption day, based upon the inputs showed under “Call function” listed below, shows that retrieving on such day is financially reasonable for us as contrasted to not retrieving on such day. A very early redemption of the protections will certainly not immediately take place based upon the efficiency of the underlying indices. At maturation, if the protections have actually not been formerly retrieved and also if the last index worth of each underlying index is above or equivalent to 60% of the particular first index worth, which we describe as the drawback limit degree, the settlement at maturation will certainly be the specified principal quantity and also the associated contingent month-to-month voucher. If, nonetheless, the last index worth of any type of underlying index is much less than its drawback limit degree, financiers will certainly be revealed to the decrease in the most awful executing underlying index on a 1-to-1 basis and also will certainly obtain a repayment at maturation that is much less than 60% of the specified principal quantity of the protections and also might be absolutely no. Appropriately, investors in the protections need to want to approve the threat of shedding their whole first financial investment based upon the efficiency of any type of hidden index as well as likewise the threat of not obtaining any type of month-to-month promo codes throughout the whole 1.5-year regard to the protections. Since repayments on the protections are based upon the most awful executing of the underlying indices, a decrease past the particular voucher obstacle degree and/or particular drawback limit degree, as appropriate, of any type of underlying index will certainly lead to couple of or no contingent month-to-month promo codes and/or a considerable loss of your financial investment, as appropriate, also if the various other underlying indices have actually valued or have actually not decreased as a lot. Capitalists will certainly not join any type of gratitude in any type of hidden index. The protections are for financiers that agree to risk their principal and also look for a possibility to gain passion at a possibly above-market price for the threat of obtaining no month-to-month passion if any type of hidden index shuts listed below the voucher obstacle degree for such index on the monitoring days, and also the threat of a very early redemption of the protections based upon the outcome of a danger neutral appraisal version. The protections are notes provided as component of MSFL’s Collection A Global Medium-Term Notes program.

All repayments undergo our credit score threat. If we back-pedal our commitments, you might shed some or every one of your financial investment. These protections are not safeguarded commitments and also you will certainly not have any type of safety passion in, or otherwise have any type of accessibility to, any type of underlying referral possession or possessions.

(1)The securities will be sold only to investors purchasing the securities in fee-based advisory accounts.

(2)MS & Co. expects to sell all of the securities that it purchases from us to an unaffiliated dealer at a price of $ per security, for further sale to certain fee-based advisory accounts at the price to public of $1,000 per security. MS & Co. will not receive a sales commission with respect to the securities. See “Supplemental information regarding plan of distribution; conflicts of interest.” For additional information, see “Plan of Distribution (Conflicts of Interest)” in the accompanying prospectus supplement.

(3)See “Use of proceeds and hedging” on page 31.

The securities involve risks not associated with an investment in ordinary debt securities. See “Risk Factors” beginning on page 11.

The Securities and Exchange Commission and state securities regulators have not approved or disapproved these securities, or determined if this document or the accompanying prospectus supplement, index supplement and prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

The securities are not deposits or savings accounts and are not insured by the Federal Deposit Insurance Corporation or any other governmental agency or instrumentality, nor are they obligations of, or guaranteed by, a bank.

You should read this document together with the related prospectus supplement, index supplement and prospectus, each of which can be accessed via the hyperlinks below. Please also see “Additional Terms of the Securities” and “Additional Information About the Securities” at the end of this document.

References to “we,” “us” and “our” refer to Morgan Stanley or MSFL, or Morgan Stanley and MSFL collectively, as the context requires.

Prospectus Supplement dated November 16, 2020 Index Supplement dated November 16, 2020  Prospectus dated November 16, 2020