Morgan Stanley Finance LLC is offering Dual Directional Jump Securities with Auto-Callable Feature due December 30, 2027, linked to Amazon.com, Inc. stock. The securities do not pay interest and do not guarantee principal return.If Amazon's stock closes at or above the initial price on the first determination date, the securities will be automatically redeemed for at least $1,130 per $1,000 principal. At maturity, if not redeemed early, investors receive the $1,000 principal plus 125% of any stock price increase. If the stock price is down but above 70% of the initial price, investors receive the principal plus the absolute stock return, capped at 30%. Below 70%, investors are fully exposed to stock price declines.The securities involve significant risks and are not suitable for all investors. They are subject to Morgan Stanley's credit risk and may result in the loss of principal. The estimated value on the pricing date will be less than the issue price. MS & Co., an affiliate, will conduct this offering.

Morgan Stanley Finance LLC is offering Dual Directional Jump Securities with Auto-Callable Feature due December 30, 2027, linked to Amazon.com, Inc. stock. The securities do not pay interest and do not guarantee principal return.If Amazon's stock closes at or above the initial price on the first determination date, the securities will be automatically redeemed for at least $1,130 per $1,000 principal. At maturity, if not redeemed early, investors receive the $1,000 principal plus 125% of any stock price increase. If the stock price is down but above 70% of the initial price, investors receive the principal plus the absolute stock return, capped at 30%. Below 70%, investors are fully exposed to stock price declines.The securities involve significant risks and are not suitable for all investors. They are subject to Morgan Stanley's credit risk and may result in the loss of principal. The estimated value on the pricing date will be less than the issue price. MS & Co., an affiliate, will conduct this offering.