Frame FWP MORGAN STANLEY Filed by: MORGAN STANLEY

The Dual Directional Buffered Participation Securities (the "securities") are unsecured commitments of Morgan Stanley Finance LLC ("MSFL") and are completely and genuinely ensured by Morgan Stanley. The securities will pay no intrigue, don't ensure any arrival of important at development and have the terms portrayed in the going with item supplement for Participation Securities, list supplement and outline, as supplemented or changed by this archive. At development, if the S&P 500® Index, which we allude to as the hidden list, has acknowledged in esteem, you will get for every security that you hold at development the expressed vital measure of $1,000 in addition to an arrival reflecting 100% of the upside execution of the fundamental record, subject to the most extreme upside installment at development. In the event that the basic list has deteriorated in esteem yet by close to 20%, you will get the expressed chief measure of your speculation in addition to a positive return equivalent to 125% of the outright estimation of the rate decay, which will successfully be restricted to a positive return of 25%. Be that as it may, if the hidden record has deteriorated by over 20%, you will lose 1% of the expressed central sum for each 1% decay past the predefined cradle sum, subject to the base installment at development of 20% of the expressed chief sum. Financial specialists may lose up to 80% of the expressed primary measure of the securities. The securities are for financial specialists who look for a value file based return and who will chance their primary and swear off current pay and upside returns over the most extreme upside installment at development in return for the supreme return and support includes that for each situation apply to a restricted scope of execution of the hidden list. Financial specialists may lose up to 80% of the expressed important measure of the securities. The securities are notes issued as a feature of MSFL's Series A Global Medium-Term Notes program. The securities vary from the Participation Securities depicted in the going with item supplement for Participation Securities in that the securities offer the potential for a positive return at development if the basic record devalues by up to 20%.

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All installments are liable surprisingly hazard. On the off chance that we default on our commitments, you could lose a few or the greater part of your venture. These securities are not anchored commitments and you won't have any security enthusiasm for, or generally have any entrance to, any basic reference resource or resources.