MS-PL SEC Filings

Morgan Stanley Finance LLC priced auto-callable, principal-at-risk notes fully guaranteed by Morgan Stanley, with an aggregate principal amount of $27,662,000. The notes have a stated principal of $1,000 per security, an issue price of $1,000 and an estimated value on the pricing date of $993.60. The securities pay no interest, may be automatically redeemed on specified determination dates for fixed early redemption payments (ranging from $1,148 to $1,666), and mature on April 16, 2031. At maturity, payoff depends on the worst performing of the Dow Jones Industrial, S&P 500 and Russell 2000 indices: investors receive a fixed positive payment if all underliers meet their call thresholds, the stated principal if all are above their 75% downside thresholds, or a pro rata loss tied to the worst performing underlier (down to zero).

Morgan Stanley Finance LLC priced $1,213,000 aggregate principal of contingent income auto-callable notes due October 14, 2027. Each security has a stated principal amount of $1,000 and an estimated value on the pricing date of $974.60.

The securities pay a 9.75% contingent coupon per annum on each interest period only if the closing level of both underliers—the XLE Fund and the XOP Fund—is at or above their coupon barrier levels on observation dates. The notes are subject to automatic early redemption if both underliers meet call threshold levels on a redemption determination date. At maturity, if the final level of either underlier is below its downside threshold level (both set at 65% of initial levels), payment will be reduced pro rata based on the worst performing underlier and could be zero. All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley and are subject to the issuers credit risk.

Morgan Stanley Finance LLC priced Principal at Risk notes — Structured Investments Enhanced Trigger Jump Securities — due May 13, 2027, fully guaranteed by Morgan Stanley. The offering totals $1,250,000 aggregate at $1,000 per security with an estimated value of $999.10 on the pricing date. Payment at maturity depends on the worst performing of the Nasdaq-100, Russell 2000 and S&P 500 indices. If each final level is at or above a 70% downside threshold of its strike level, investors receive the stated principal plus a fixed $126.50 upside payment (12.65%). If any underlier is below its threshold, holders lose dollar-for-dollar on the worst performing underlier; there is no minimum payment and principal could be lost.

All payments are subject to MSFL’s and Morgan Stanley’s credit risk; MS & Co. acts as agent and calculation agent. The securities do not pay interest and are intended for fee-based advisory accounts per distribution terms.

Morgan Stanley Finance LLC offers Principal-at-Risk structured notes linked to the American Depositary Shares of Taiwan Semiconductor Manufacturing Company Limited under a Preliminary Pricing Supplement. Each security has a $1,000 stated principal amount and $1,000 issue price; estimated value on the pricing date is approximately $984.80. The notes pay contingent coupons (annual rate at least 20.36%*) only if observation-date barriers are met, feature automatic early redemption on specified redemption determination dates, and include a 20% buffer with a 1.25 downside factor that amplifies losses beyond the buffer. Maturity is May 5, 2027 with observation dates ending April 30, 2027. All payments are subject to the issuer and guarantor credit risk.

Morgan Stanley Finance LLC is offering Trigger Jump Securities due July 22, 2027—principal-at-risk notes with an original issue price of $1,000 per security. Each security pays no interest and will return either $1,000 plus an $200.50 upside payment if the equally weighted GLD/SLV basket is flat or higher at the valuation date, $1,000 if the basket declines up to 35%, or a pro rata loss (final basket/initial basket) if the basket declines more than 35% (downside threshold: 65%). The estimated value on the pricing date was approximately $965.80. All payments are subject to issuer and guarantor credit risk, there is no minimum payment at maturity, and investors may lose their entire investment.

Morgan Stanley Finance LLC priced a primary offering of structured, principal-at-risk notes linked to the S&P 500® Index with an aggregate principal amount of $2,541,000. The securities have a stated principal amount of $1,000 per security, an issue price of $1,000 per security and an estimated value on the pricing date of $979.30 per security.

At maturity (April 12, 2029) payments depend on the S&P 500 closing level on the observation date (April 9, 2029). If the final level is at or above the initial level (6,824.66), holders receive principal plus an $180 upside payment. If the final level falls but remains at or above an 80% buffer (5,459.728), holders receive principal plus a positive payment tied to the absolute decline multiplied by a 375% participation rate (capped effectively at 75%). If the final level is below the buffer, holders lose 1% of principal for each 1% decline beyond the 20% buffer, subject to a 20% minimum payment at maturity.

The securities pay no interest, are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley; all payments are subject to Morgan Stanley’s credit risk. Sales are limited to fee-based advisory accounts and MS & Co. will act as agent in distribution.

Morgan Stanley Finance LLC is offering $2,000,000 aggregate principal of Structured Investments Enhanced Trigger Jump Securities due April 16, 2031. Each note has a $1,000 stated principal amount and is fully and unconditionally guaranteed by Morgan Stanley.

At maturity, if the EURO STOXX 50® Index final level is at or above the downside threshold (4,422.218), holders receive $1,000 plus the greater of (i) $1,000 × index percent change or (ii) a $390 upside payment. If the final level is below the threshold, holders lose 1% of principal for each 1% decline in the index; there is no minimum payment and full loss of principal is possible. All payments are subject to issuer and guarantor credit risk; estimated value at pricing was $966.90 per security and the issue price equals $1,000 per security, with $30 dealer commission.

Morgan Stanley Finance LLC is offering market-linked notes due April 22, 2031, fully and unconditionally guaranteed by Morgan Stanley, linked to the S&P 500® Futures Excess Return Index. Each note has a stated principal amount of $1,000 and a participation rate of 111%. The strike and pricing dates are April 17, 2026, with an observation date of April 17, 2031. At maturity, if the final level exceeds the initial level, investors receive principal plus 111% of the underlier’s appreciation; if the final level is equal to or less than the initial level, investors receive only the stated principal. The estimated value on the pricing date is approximately $943.90 per note. All payments are subject to Morgan Stanley’s credit risk; the notes are unsecured, will not be listed, do not pay interest, and may be treated as contingent payment debt instruments for U.S. tax purposes.

Morgan Stanley Finance LLC priced $4,230,000 of leveraged, buffered S&P 500® index-linked notes due October 13, 2027. Each $1,000 note offers 150% upside participation subject to a cap ($1,170.25 maximum per $1,000) and a 10.00% buffer against initial declines; principal is at risk if the index falls more than 10.00%. The Trade Date is April 8, 2026, Original Issue Date April 13, 2026, and Determination Date October 8, 2027. Payments are unsecured, guaranteed by Morgan Stanley and depend on the Closing Level on the Determination Date and the issuer’s credit.