MS-PL SEC Filings

Morgan Stanley Finance LLC priced Principal at Risk notes tied to the worst performing of the Nasdaq-100, Russell 2000 and S&P 500. The offering totals $1,018,000 at a $1,000 issue price per security and an estimated value of $981.20 on the pricing date.

Each security has a stated principal amount of $1,000, an upside payment of $223 (22.30%) if the final level of every underlier is at or above its downside threshold, and a downside threshold equal to 70% of each underlier’s initial level. If any underlier’s final level is below its downside threshold, payment equals principal multiplied by the worst performing underlier’s performance factor and could be zero. Observation date is April 3, 2028 and maturity is April 6, 2028. All payments are subject to issuer and guarantor credit risk.

Morgan Stanley Finance LLC priced a series of principal-at-risk Trigger PLUS notes due April 4, 2031, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an estimated value on the pricing date of $978. The notes return 216.50% leverage on any S&P 500® Futures Excess Return Index appreciation measured from the initial level of 531.12 (strike date April 1, 2026). If the final level on the observation date (April 1, 2031) is at or above 70% of the initial level (downside threshold 371.784), investors receive principal at maturity; if below that threshold, investors lose 1% of principal for each 1% decline in the index and could lose their entire investment. All payments are subject to issuer and guarantor credit risk.

Morgan Stanley Finance LLC priced Principal-at-Risk callable contingent income securities linked to the worst-performing of the Nasdaq-100, Russell 2000 and S&P 500. Each security has a $1,000 stated principal amount and an issue price of $1,000. A contingent coupon of 8.10% per annum may be paid on each observation date only if the closing level of each underlier is at or above its coupon barrier (approximately 65% of its initial level). If not redeemed, maturity payment returns principal only if every underlier is at or above its downside threshold (also ~65% of initial); otherwise investors suffer a loss equal to the percentage decline of the worst-performing underlier. Securities are unsecured obligations of MSFL, fully guaranteed by Morgan Stanley, and are subject to issuer credit risk and early redemption determined by a risk neutral valuation model.

Morgan Stanley Finance LLC is offering structured, principal-at-risk notes due October 6, 2027, fully guaranteed by Morgan Stanley. The securities have a stated principal amount of $1,000 per security and an aggregate offering size of $903,000.

Payment at maturity depends on the worst performing of the Dow Jones Industrial Average, the Nasdaq-100 Index® and the Russell 2000® Index. If the worst performing underlier is at or above a 70% downside threshold of its initial level, holders receive principal plus a fixed upside payment of $152 (15.20%). If the worst performing underlier is below its downside threshold, holders suffer losses pro rata (1% loss for each 1% decline), with no minimum payment.

The document shows an estimated value on the pricing date of $969.90 per security and a sales commission of $20 per security; proceeds to the issuer are $980 per security. All payments are subject to Morgan Stanley's credit risk.

Morgan Stanley Finance LLC priced a series of principal-at-risk, auto-callable notes (fully guaranteed by Morgan Stanley) with an aggregate principal amount of $2,978,000 and a stated principal amount of $1,000 per security. The securities are linked to the worst performing of the Dow Jones Industrial, Nasdaq-100 and Russell 2000 indices and feature automatic early redemption starting on April 8, 2027 if each underlier meets its 100% call threshold.

If not auto-redeemed, maturity is April 5, 2029. Payments: early redemption payments are fixed ($1,184 on April 13, 2027 and $1,368 on April 6, 2028); maturity can pay $1,552 if all underliers ≥ call thresholds, return principal if all ≥ 70% downside thresholds, or suffer a loss equal to the percentage decline of the worst performing underlier (principal could be zero). Estimated value on pricing date was $982.10 per security. All payments are subject to Morgan Stanley’s credit risk; these securities do not pay interest and do not participate in upside beyond the fixed payments.

Morgan Stanley Finance LLC priced Principal-at-Risk auto-callable securities tied to the S&P 500® Index. The offering is for $1,000 per security with an aggregate principal amount of $2,825,000 and an estimated value on the pricing date of $954.00. The notes feature automatic early redemption if the closing level of the index is at or above the call threshold level of 6,528.52 on any determination date starting with April 28, 2027. Early redemption payments are fixed ($1,100 on first call, $1,200 on second call); if not called, maturity pays $1,300 if final level ≥ call threshold or a downside-linked payment equal to $1,000 × final level / initial level. All payments are subject to MSFL/Morgan Stanley credit risk and the securities do not pay interest or participate in index appreciation.

Morgan Stanley Finance LLC priced a Trigger PLUS offering totaling $498,000 of principal. The securities are principal-at-risk notes due April 5, 2029 with a stated principal amount of $1,000 per security and an issue price of $1,000 per security. The estimated value on the pricing date was $937.00 per security. Payment at maturity depends on the performance of the worst performing underlier of the Dow Jones Industrial Average, Nasdaq-100 and S&P 500: if the worst performing underlier finishes above its initial level, investors receive principal plus a leveraged upside equal to 127% of that appreciation; if the worst performing underlier finishes between its initial level and a 70% downside threshold, investors receive principal; if the worst performing underlier finishes below its 70% threshold, investors suffer a pro rata loss of principal based on the worst performing underlier, and could lose their entire investment. All payments are subject to issuer and guarantor credit risk and sales commissions of $32.50 per security were paid to selected dealers.

Morgan Stanley Finance LLC priced Principal-at-Risk auto-callable securities linked to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index. The securities have a stated principal of $1,000 per security, aggregate principal of $280,000, a contingent coupon of 12.25% per annum, automatic early‑redemption mechanics beginning with a first redemption determination date of September 30, 2026, and maturity on April 3, 2031. Coupons are paid only if the underlier closes at or above the coupon barrier level on observation dates; if not, coupons may remain unpaid and only be paid later if conditions are met. At maturity, if the final level is below the downside threshold (60% of the initial level), investors suffer a proportional loss to principal, potentially losing the entire investment. All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley; market value and coupon payments are subject to MSFL/Morgan Stanley credit risk.

Morgan Stanley Finance LLC offers Dual Directional Buffered PLUS principal-at-risk securities guaranteed by Morgan Stanley. Each note has a $1,000 stated principal amount and an issue price of $1,000. The securities reference the Russell 2000® and S&P 500® and pay at maturity based solely on the worst performing underlier on the observation date of October 8, 2027, with maturity on October 14, 2027.

Key terms: a leverage factor of 111% on positive performance of the worst performing underlier, a buffer amount of 10% (buffer level = 90% of the initial level), an absolute return participation rate of 100%, an estimated value on the pricing date of approximately $970.70 per security, and a minimum payment at maturity of 10% of the stated principal amount.