Morgan Stanley SEC Filings

Morgan Stanley Finance LLC is offering Dual Directional Trigger PLUS notes due April 4, 2030 linked to the worst performing of the Nasdaq-100® Technology Sector and the Russell 2000® Index. Each security has a stated principal amount of $1,000 and an estimated value on the pricing date of approximately $960.40.

At maturity the payout depends on the worst performing underlier: full principal plus a leveraged upside if both underliers finish higher; a capped positive absolute-return payment (capped effectively at 15%) if declines remain above the 70% downside threshold; or a loss equal to the percentage decline (1% loss per 1% decline) if the worst underlier finishes below its downside threshold. All payments are subject to issuer and guarantor credit risk.

Morgan Stanley Finance LLC prices principal-at-risk, auto-callable structured notes linked to the worst performing of the S&P 500® and Russell 2000®. Each security has a $1,000 stated principal amount and an estimated value on the pricing date of approximately $970.10.

The securities can be automatically redeemed on the first determination date of April 5, 2027 if each underlier is at or above its call threshold (100% of initial level); the early redemption payment is set between $1,168.50 and $1,178.50. If not redeemed, maturity is April 5, 2029. At maturity investors either receive principal plus an upside payment (participation rate 150%) if both underliers finish above initial levels, return of principal if both are at or above downside thresholds (75% of initial), or a loss equal to the percentage decline of the worst performing underlier (potentially full loss).

Morgan Stanley Finance LLC is offering Dual Directional Buffered Participation Securities due April 4, 2030, fully guaranteed by Morgan Stanley. Each note has a stated principal amount of $1,000, an estimated value on the pricing date of approximately $969, and an original issue date of April 6, 2026.

The payout is tied to the S&P 500® Index with a 100% upside participation rate subject to a $1,520 maximum upside payment (152% of principal). A 15% buffer applies: if the index on the observation date (scheduled April 1, 2030) is between the initial level and 85% of that level, investors receive principal plus an absolute-return credit (absolute return participation rate 100%), effectively capped at 15%. If the final level is below the buffer, investors lose 1% of principal for each 1% decline beyond the buffer, subject to a minimum payment at maturity equal to 15 of principal.

These are principal-at-risk notes that pay no interest, expose holders to Morgan Stanley credit risk, include tax-treatment uncertainty, and are intended for investors willing to forgo current income and accept the risk of significant principal loss.

Morgan Stanley Finance LLC is offering Dual Directional Buffered PLUS securities due April 4, 2028 linked to the S&P 500® Index that are fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and a leverage factor of 200% for upside exposure, subject to a maximum upside payment of $1,165 (116.50% of principal). If the S&P 500 final level on the observation date is between the buffer level (90% of the initial level) and the initial level, holders receive principal plus a positive return equal to the absolute decline multiplied by a 100% participation rate, effectively capped at a 10% positive return under those terms. If the final level is below the buffer level, holders suffer losses of 1% of principal for each 1% decline beyond the 10% buffer, subject to a minimum payment at maturity of 10% of principal. The pricing date and strike date are March 30, 2026, original issue date is April 2, 2026, and the observation date is March 30, 2028, subject to postponement for non-trading days and certain market disruption events. The estimated value on the pricing date is approximately $963.00 per security.

Morgan Stanley Finance LLC is offering $22,796,000 of structured, auto‑callable notes due February 27, 2031, fully and unconditionally guaranteed by Morgan Stanley. Each note has a $1,000 stated principal amount and an issue price of $1,000 per note.

The notes pay a variable monthly coupon of either 9.50% (higher coupon) or 0.25% (lower coupon) depending on the closing levels of four underliers on each observation date. The payoff is linked to the worst performing of Broadcom (AVGO), Meta (META), Tesla (TSLA) and Micron (MU). The notes may be automatically redeemed early beginning on February 24, 2027, if all underliers meet the call thresholds; otherwise the stated principal is payable at maturity.

The document shows an estimated value on the pricing date of $949.50 per note, agent commissions of $42.50 per note, and net proceeds to the issuer of $21,827,170.

Morgan Stanley Finance LLC priced a series of unsecured structured notes called Trigger PLUS tied to an equally weighted basket of ten stocks, with a stated principal of $1,000 per note and a maturity of April 5, 2028.

The notes were priced on March 13, 2026 (original issue date March 18, 2026), offer a leverage factor of 150% on positive basket performance capped at a $1,455 maximum payment per note (145.50% of principal), and include a trigger level of 80% of the initial basket value that determines downside loss exposure. The issuer estimated the value on the pricing date at approximately $949.30 per note.

Morgan Stanley Finance LLC is offering Trigger Autocallable Notes totaling $9,171,960 linked to the Russell 2000® Index due February 27, 2031. The securities have a Call Return Rate of 9.30% per annum, an Initial Level of 2,663.329 and a Downside Threshold of 1,997.497 (≈75% of the Initial Level). Quarterly Observation Dates begin March 1, 2027 (first callable date) and, if an Observation Date closing level is at or above the Initial Level, the notes will be automatically called at fixed Call Prices shown in the supplement. If not called, maturity is February 27, 2031, and repayment depends on the Final Level: if the Final Level is below the Downside Threshold, investors suffer losses proportionate to the index decline and may lose their entire principal. All payments are subject to Morgan Stanley’s credit risk and there may be little or no secondary market.

Morgan Stanley Finance LLC issues principal-at-risk, auto-callable securities with aggregate principal $4,353,000. The securities reference the worst performing of Apple Inc. and Amazon.com, with initial levels of $274.23 (AAPL) and $210.64 (AMZN) on February 25, 2026.

If on any determination date each underlier meets its call threshold (100% of initial level), the notes auto-redeem for increasing fixed early payments (first possible determination date March 4, 2027). At maturity (March 1, 2029), investors receive $1,573.00 if both underliers achieved redemption events; otherwise payment is either the stated principal or the stated principal multiplied by the performance factor of the worst performing underlier (downside thresholds are 70% of initial levels).

The issue price is $1,000 per security, estimated value on pricing date was $949.70, and agent commission was $25 per security.

Morgan Stanley Finance LLC priced $1,113,000 aggregate principal of Variable Income Auto-Callable Notes due February 27, 2031, fully and unconditionally guaranteed by Morgan Stanley. The notes reference the worst-performing common stock of Broadcom (AVGO), NVIDIA (NVDA) and Oracle (ORCL).

The notes pay a monthly variable coupon equal to either a 8.60% (higher coupon) or a 0.25% (lower coupon) depending on each observation date vs. coupon barrier levels (80% of initial levels). They can be automatically redeemed after the first redemption determination date of February 24, 2027 for the stated principal plus the higher coupon if each underlier meets its call threshold on a redemption determination date. The notes are unsecured, not exchange-listed, and all payments are subject to issuer credit risk.