Every 424B that Morgan Stanley (MS) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow MS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MS filings page.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering Variable Income Auto‑Callable Notes due September 2, 2031, fully and unconditionally guaranteed by Morgan Stanley, in an aggregate principal amount of $415,000 at $1,000 per note.
The notes pay a variable monthly coupon: a higher rate of 10.65% per annum if on an observation date the closing level of each of Dell, Alphabet (Class C), Marvell and Tesla stock is at or above its stock‑specific coupon barrier level, and a lower rate of 0.25% per annum otherwise. From August 26, 2027 onward, the notes are automatically redeemed if on a redemption determination date each stock is at or above its call threshold level (90% of its initial level), returning principal plus the higher coupon for that period.
If not called, investors receive principal at maturity plus the applicable final coupon. The structure is based on the worst performing underlier, so weakness in any one stock drives outcomes. The estimated value on the pricing date is $951.30 per note, below the issue price, reflecting offering costs and issuer pricing. The notes are unsecured, not listed, and all payments depend on Morgan Stanley’s and MSFL’s credit.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering fixed rate callable notes due September 15, 2034, fully and unconditionally guaranteed by Morgan Stanley. Each note has a $1,000 stated principal amount and pays a fixed annual interest rate of 5.200%, with semi-annual interest payments each March 15 and September 15, beginning March 15, 2027.
The issuer may redeem the notes early, in whole but not in part, on semi-annual redemption dates starting September 15, 2030, at 100% of principal plus accrued interest, if a risk neutral valuation model indicates redemption is economically rational for the issuer. The estimated value on the pricing date is approximately $969.80 per $1,000 note, reflecting issuance, structuring and hedging costs borne by investors. Payments depend on the credit of Morgan Stanley and the notes will not be listed on any securities exchange. Net proceeds will be used for general corporate purposes.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering market-linked notes due August 29, 2031, tied to the S&P 500® Futures Excess Return Index. The notes are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley, and pay no periodic interest.
Each note has a $1,000 stated principal amount and issue price, with an aggregate principal amount of $1,338,000. At maturity, investors receive $1,000 plus an upside payment equal to 130% of any positive percentage change in the index from its initial level of 612.01 to its final level; if the final level is equal to or less than the initial level, only principal is repaid.
The participation rate is 130%, so a 5% index gain would yield $1,065 per note. The notes are not listed on any exchange, and Morgan Stanley & Co. LLC may make a secondary market but is not obligated to. The estimated value on the pricing date is $946.30 per note, below the issue price due to embedded issuing, selling, structuring and hedging costs, and all payments are subject to Morgan Stanley’s credit risk.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is issuing fixed-income buffered auto-callable securities due August 29, 2031, linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. The securities have a stated principal amount of $1,000 per security and an aggregate principal amount of $342,000, issued at par.
The notes pay a fixed coupon at an annual rate of 6.80%, with monthly coupon payments, regardless of index performance, so long as the notes remain outstanding. Starting August 25, 2027, the notes are subject to automatic early redemption if the index is at or above the call threshold of 1,245.802 (95% of the initial level 1,311.37), in which case investors receive principal plus the applicable coupon and the notes terminate.
If not called, at maturity investors receive principal back if the final index level is at or above the buffer level of 1,114.665 (85% of initial). If the final level is below the buffer, principal is reduced 1% for each 1% decline beyond the 15% buffer, subject to a minimum payment at maturity of 15% of principal, plus the final coupon. The estimated value on the pricing date is $916.30 per security, reflecting structuring and hedging costs and issuer economics. All payments are unsecured and subject to the credit risk of Morgan Stanley Finance LLC and the Morgan Stanley guarantee.
Morgan Stanley (MS), as guarantor of notes issued by Morgan Stanley Finance LLC, is offering Enhanced Trigger Jump Securities linked to the worst performer of the Dow Jones Industrial Average, Nasdaq-100 Index and Russell 2000 Index, under its Series A Global Medium-Term Notes program. Each security has a $1,000 principal amount, pays no interest and matures on August 29, 2030. If on the observation date each index is at or above its downside threshold (70% of its initial level), holders receive $1,000 plus a fixed $400 upside payment. If any index is below its threshold, the payoff is $1,000 multiplied by the performance factor of the worst-performing index, with losses of 1% of principal for each 1% decline and no minimum repayment, so principal can be fully lost. The securities are unsecured, subject to Morgan Stanley’s credit risk, have an estimated value on the pricing date of $958.80 per $1,000, and may have limited or no secondary market liquidity.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering Buffered Performance Leveraged Upside Securities (Buffered PLUS) due August 31, 2028 linked to the EURO STOXX 50® Index. Each security has a $1,000 stated principal amount within a $538,000 aggregate issuance.
At maturity, if the index is above the initial level of 6,470.74, investors receive principal plus 150% of the index gain, capped at a maximum payment of $1,350 per security. If the index finishes between 85% and 100% of the initial level, investors receive only principal. Below the 85% buffer level of 5,500.129, principal is reduced 1% for each additional 1% decline, but not below the minimum payment of 15% of principal.
The securities pay no interest, are unsecured obligations of Morgan Stanley Finance LLC fully and unconditionally guaranteed by Morgan Stanley, and are subject to the issuer’s and guarantor’s credit risk. The estimated value on the pricing date is $984.00 per security, reflecting structuring and hedging costs and a rate advantageous to the issuer.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering Dual Directional Buffered Participation Securities linked to the S&P 500® Index, maturing on October 1, 2027. Each note has a $1,000 stated principal amount, with an issue price of $1,000 and an estimated value on the pricing date of approximately $984.90, reflecting issuing, selling, structuring and hedging costs borne by investors.
At maturity, if the S&P 500® final level is above the initial level, holders receive principal plus 100% of upside, capped by a maximum upside payment of at least $1,123 per security (112.30% of principal). If the index is below or equal to the initial level but at or above 90% of it (the 10% buffer), investors earn a positive return equal to the absolute decline, up to an effective 10% gain. If the index closes below the buffer level, investors lose 1.1111% of principal for each 1% decline beyond the 10% buffer, with no minimum payment and the possibility of a total loss.
The notes pay no interest, are unsecured obligations of Morgan Stanley Finance LLC fully and unconditionally guaranteed by Morgan Stanley, and all payments are subject to Morgan Stanley’s credit risk. The S&P 500® closing level was 7,675.70 on August 26, 2026. Counsel currently views the securities as prepaid financial contracts for U.S. federal income tax purposes, though this treatment is uncertain.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering Dual Directional Buffered Participation Securities due August 29, 2031, linked to the S&P 500® Index and fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and issue price, with an aggregate principal amount of $250,000.
The securities pay no interest. If the S&P 500 final level is above the initial level of 7,675.70, holders receive principal plus 100% of the index gain, capped at a maximum payment of $1,600 per security. If the index is below or equal to the initial level but at or above the buffer level of 6,524.345 (an 85% level, i.e., a 15% buffer), investors earn a positive “absolute return” up to 15%. If the index falls below the buffer level, investors lose 1% of principal for each 1% decline beyond the buffer, but not below a minimum payment of 15% of principal.
The estimated value on the pricing date is $936.60 per security, below the $1,000 issue price due to issuing, selling, structuring and hedging costs borne by investors. The notes are unsecured obligations subject to the credit risk of Morgan Stanley Finance LLC and Morgan Stanley, may be illiquid, and involve complex U.S. tax and Section 871(m) considerations.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering structured Callable Jump Notes due August 29, 2031 linked to the S&P 500® Futures Excess Return Index, fully and unconditionally guaranteed by Morgan Stanley. Each note has a $1,000 stated principal amount and issue price, with a total aggregate principal of $897,000.
The notes pay no interest. If not called and if the index’s final level exceeds the initial level of 612.01, investors receive $1,000 plus an upside payment equal to 160% of the index gain; otherwise, only principal is repaid at maturity. Beginning August 31, 2027, the issuer may redeem the notes in whole on scheduled redemption dates if a risk neutral valuation model indicates early redemption is economically rational, paying fixed call amounts that imply roughly 12% per annum simple returns, from $1,120 on the first redemption date up to $1,590 on July 31, 2031.
The notes are unsecured and subject to Morgan Stanley’s credit risk, will not be listed on any exchange and may have limited liquidity. The estimated value on the pricing date is $935.70 per note, below the $1,000 issue price due to embedded costs and issuer funding economics. For U.S. tax purposes, the securities are expected to be treated as contingent payment debt instruments, requiring annual accrual of taxable interest based on a 5.0361% comparable yield.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is issuing Trigger PLUS structured notes linked to the S&P 500® Futures Excess Return Index, maturing on August 29, 2031. Each security has a $1,000 stated principal amount and is issued at $1,000, with an aggregate principal amount of $3,725,000.
The notes offer 209% leveraged upside if the final index level on the August 26, 2031 observation date is above the initial level of 612.01. If the final level is between 70% of the initial level (the downside threshold level of 428.407) and the initial level, investors receive only principal back. Below the threshold, repayment is reduced 1% for each 1% decline in the index, with no minimum payment.
The securities pay no interest, are unsecured obligations of Morgan Stanley Finance LLC fully and unconditionally guaranteed by Morgan Stanley, and all payments are subject to Morgan Stanley’s credit risk. The estimated value on the pricing date is $943.30 per security, below the issue price, reflecting issuance, selling, structuring and hedging costs and Morgan Stanley’s pricing. Liquidity may be limited, and tax treatment is uncertain; the issuer’s counsel views them as prepaid financial contracts treated as open transactions for U.S. federal income tax purposes.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering up to $497,000 of unsecured, auto-callable Jump Notes linked to the Morgan Stanley Amplitude Index, with a stated principal amount and issue price of $1,000 per note, fully and unconditionally guaranteed by Morgan Stanley.
The notes pay no interest, may be automatically redeemed on annual determination dates starting August 26, 2027 if the index is at or above a call threshold of 209.626, for fixed early redemption payments from $1,110 to $1,660 per note (about 11% per annum). If not called and the final index level on August 26, 2033 exceeds the initial level of 207.55, holders receive principal plus 100% of index appreciation; otherwise they receive only principal at maturity, subject to issuer and guarantor credit risk.
Morgan Stanley estimates the value on the pricing date at $891.30 per note, below the issue price due to embedded costs. The underlying Amplitude Index is a new, rules-based, multi-asset, volatility-targeted index with 0.65% annual index fee and additional component costs that historically averaged about 1.4% per year on a back-tested basis, which reduce index performance. The notes will not be listed, and U.S. tax treatment is as contingent payment debt instruments with a comparable yield of 5.2579% per annum.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is issuing $4,830,000 of principal-at-risk Step-Down Jump Securities with an auto-call feature due August 30, 2029, linked to the worst of the EURO STOXX 50® and S&P 500® indices. Each security has a $1,000 stated principal amount and issue price.
The notes can be automatically redeemed on scheduled determination dates if both indices are at or above their call threshold levels, paying $1,107.50 per security on the first call date or $1,215.00 on the second, corresponding to about 10.75% per annum. If held to maturity and both indices are at or above their upside thresholds (90% of initial levels), investors receive $1,322.50; if both remain above their downside thresholds (70%), investors receive only principal. If either index finishes below its downside threshold, repayment is reduced 1% for every 1% decline of the worst-performing index, potentially to zero.
The notes pay no interest, provide no participation in index gains, and are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley. The estimated value on the pricing date is $974.00 per $1,000, reflecting embedded fees and the issuer’s pricing models, and liquidity in the secondary market may be limited.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering $2,416,000 of principal at risk Jump Securities with an auto-call feature maturing on August 29, 2031, linked to the worst performing of the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index.
Each security has a $1,000 stated principal amount and may be automatically redeemed on September 8, 2027 for $1,200 per security if, on the first determination date, all three indices are at or above 100% of their initial levels. If held to maturity and not auto-called, investors receive principal plus an upside payment based on 150% of the gain of the worst performing index if all are above initial, only principal if all remain at or above 70% of initial, and a loss of 1% of principal for each 1% decline of the worst performer below its 70% downside threshold, potentially down to zero.
The securities’ estimated value on the pricing date is $952.30 per $1,000, reflecting embedded costs and issuer pricing. Payments depend on Morgan Stanley’s credit; there is no principal guarantee, no periodic interest, limited liquidity, and complex U.S. tax treatment that may change.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering Dual Directional Buffered Jump Securities linked to the S&P 500® Futures Excess Return Index, due August 29, 2031. Each note has a $1,000 principal amount, with an aggregate issuance of $624,000, and pays no interest.
At maturity, if the index is at or above the initial level of 612.01, holders receive principal plus the greater of the index gain or a fixed upside payment of $566 per note. If the index is below the initial level but at or above the 85% buffer level, investors receive principal plus a positive “absolute return” on the decline, capped at a 15% gain. Below the buffer, principal is reduced 1% for each 1% further decline, subject to a minimum payment of 15% of principal.
The notes are unsecured obligations of Morgan Stanley Finance LLC, fully and unconditionally guaranteed by Morgan Stanley, with an estimated value on the pricing date of $956.10 per note, below the $1,000 issue price. The securities involve principal risk, limited liquidity, exposure to futures-based index volatility and complex U.S. tax treatment.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Jump Securities with an auto-call feature maturing on August 30, 2029, linked to the worst performer of the Russell 2000® Index and the S&P 500® Index. The notes are issued at $1,000 per security, with an aggregate principal amount of $465,000, and an estimated value on the pricing date of $969.10 per security, reflecting embedded costs and issuer economics.
The securities may be automatically redeemed on September 8, 2027 for an early redemption payment of $1,130 per security if each index is at or above its initial level. If held to maturity and not called, investors receive principal plus an upside payment based on 150% of the gain of the worst-performing index if both final levels exceed their initial levels, only principal if both are at or above 70% of initial, and a loss of 1% of principal for each 1% decline of the worst-performing index below the 70% downside threshold (potentially down to zero). All payments are unsecured obligations subject to the credit risk of MSFL and Morgan Stanley, and the notes pay no periodic interest and may be illiquid.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering $100,000 aggregate principal amount of Trigger Jump Securities, fully and unconditionally guaranteed by Morgan Stanley. Each note has a $1,000 stated principal amount and is based on the worst performing of the Russell 2000® Index and the S&P 500® Index.
The notes pay no interest and do not guarantee any return of principal. At maturity on August 31, 2028, if the final level of each index is at or above its initial level, investors receive $1,000 plus a fixed upside payment of $275 (27.5%). If at least one index is below its initial level but both remain at or above 80% of their initial levels, investors receive only $1,000.
If either index finishes below its 80% downside threshold, the redemption is reduced 1% for every 1% decline of the worst performing index, with no minimum payment, so the entire investment can be lost. The estimated value on the pricing date is $973.00 per note, below the $1,000 issue price, reflecting selling, structuring and hedging costs. All payments are subject to the credit risk of Morgan Stanley and MSFL.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering $3,422,000 of Airbag In-Digital Securities linked to the S&P 500® Index, fully and unconditionally guaranteed by Morgan Stanley. Each Security has a $10 principal amount and a term of approximately 18 months, from an August 26, 2026 trade date to a March 2, 2028 maturity.
If the Final S&P 500® level on the February 28, 2028 valuation date is at or above the Digital Barrier/Downside Threshold of 6,908.13 (90% of the Initial Level 7,675.70), investors receive $10 plus a fixed Digital Return of 14.62%, regardless of index appreciation. If the Final Level is below the Downside Threshold, the maturity payment is reduced by 1.111% of principal for each 1% the index has fallen beyond the 10% Threshold Percentage, exposing holders to partial or total loss of principal.
The Securities pay no interest or dividends, cap upside at the Digital Return, and any contingent principal protection applies only at maturity. All payments are subject to the credit risk of Morgan Stanley Finance LLC and Morgan Stanley. The estimated value on the trade date is $9.975 per $10 Security, reflecting issuance, structuring and hedging costs embedded in the issue price.
Morgan Stanley, through Morgan Stanley Finance LLC, is offering principal-at-risk Callable Contingent Income Securities due September 28, 2028, linked to the worst performing of the Nasdaq-100 Index, Russell 2000 Index and S&P 500 Index. Each security has a $1,000 stated principal amount.
Investors may receive a contingent coupon at an annual rate of 10.65%, paid on scheduled coupon dates only if on each related observation date all three indices are at or above 70% of their initial levels. There is no minimum number of coupons and it is possible to receive none over the life of the notes.
Beginning March 31, 2027, the notes are callable in whole on specified redemption dates if a risk neutral valuation model indicates early redemption is economically rational for Morgan Stanley; once redeemed, no further payments are made. If the notes are not redeemed and, on the final observation date, any index is below its 70% downside threshold, the maturity payment is reduced in proportion to the decline of the worst performing index and can be zero; otherwise, principal is repaid (plus any final coupon). The notes are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley, with an estimated value on the pricing date of approximately $980.10 per security, below the $1,000 issue price, and are expected to have limited liquidity and complex, uncertain tax treatment.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering Performance Leveraged Upside Securities (PLUS), unsecured notes linked to the EURO STOXX 50® Index and fully and unconditionally guaranteed by Morgan Stanley, maturing on January 5, 2028.
Each PLUS has a $1,000 stated principal amount and pays no interest. If the index rises, investors receive $1,000 plus 300% of the index gain, capped at a maximum payment of $1,213 (121.30% of principal). If the final index value is at or below the initial value, repayment equals $1,000 times the index performance factor, with no downside protection, so the maturity payment can be zero.
The estimated value on the pricing date is approximately $970.10 per PLUS, below the issue price, reflecting embedded distribution, structuring and hedging costs, including a $17.50 sales commission and $5 structuring fee per note. The notes are not listed, secondary liquidity may be limited, all payments are subject to Morgan Stanley’s credit risk, and investors do not receive dividends or other rights on the index components.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering market linked, principal-at-risk securities linked to the Russell 2000® Index, maturing on September 6, 2029 and fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 face amount, with an estimated value on the pricing date of approximately $962.90 per security.
The notes are auto-callable on September 3, 2027 if the index closes at or above the starting level, in which case investors receive a fixed call payment of at least $1,101 per $1,000 (at least a 10.10% return) and no further payments. If not called, at maturity investors receive: leveraged upside of 125% of any positive index return; full principal if the index decline is within a 10% buffer; or a loss of principal if the index falls more than 10%, with losses up to 90% of face amount.
The securities pay no interest, do not provide dividends on the index components, and all payments are subject to Morgan Stanley’s credit risk. The price to the public is $1,000 per security, including up to $25.75 in selling commissions, and they may have limited or no secondary market liquidity.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering unsecured, auto-callable Jump Notes due September 20, 2033 linked to the Morgan Stanley Amplitude Index. Each note has a $1,000 stated principal amount, pays no interest, and is fully and unconditionally guaranteed by Morgan Stanley.
The notes may be automatically redeemed on annual determination dates starting September 15, 2027 if the index is at or above 101% of the initial level, for step-up payments of at least $1,110 to $1,660 per note. If not called and the final index level is above the initial level, investors receive $1,000 plus a 100% participation in index appreciation; otherwise they receive only $1,000 at maturity.
The notes are principal-at-maturity products only to the extent Morgan Stanley and MSFL meet their obligations; all payments are subject to their credit risk. The estimated value on the pricing date is about $890.30 per note, below the $1,000 issue price, reflecting issuance, structuring and hedging costs. The notes will not be listed, secondary liquidity may be limited, and for U.S. tax purposes they are expected to be treated as contingent payment debt instruments, requiring annual accrual of taxable interest.
MORGAN STANLEY (MS), via Morgan Stanley Finance LLC, is offering principal-at-risk Callable Contingent Income Securities due September 6, 2028, linked to the worst performer of the Nasdaq-100® Technology Sector, Russell 2000® Index and S&P 500® Index, fully and unconditionally guaranteed by Morgan Stanley.
The notes have a $1,000 stated principal amount and pay a 9.00% per annum contingent coupon only if on each observation date all three indices close at or above their coupon barrier levels, set at 70% of initial levels. If not, that period’s coupon is skipped, potentially for the entire term. Beginning March 3, 2027, early redemption can occur on scheduled dates only if a risk neutral valuation model indicates it is economically rational for Morgan Stanley, in which case holders receive principal plus any due coupon. If held to maturity and all final index levels are at or above their 65% downside thresholds, investors receive principal (plus any final coupon); otherwise, repayment is reduced 1% for every 1% decline in the worst-performing index, down to zero. The estimated value on the pricing date is approximately $960 per $1,000 note, reflecting embedded costs and issuer economics, and all payments are subject to Morgan Stanley’s credit risk.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering market-linked principal-at-risk securities tied to the State Street Energy Select Sector SPDR ETF, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 face amount and matures on November 5, 2027.
The notes provide 300% leveraged upside participation in the ETF’s price gains, capped by a maximum return of at least 27.30% (at least $273 per $1,000). Principal is protected only down to a 95% threshold; below that level, losses are 1‑for‑1 with the ETF, up to a total loss. The estimated value on the pricing date is about $966.10 per $1,000, reflecting embedded fees and hedging costs, and the securities pay no interest and may have limited liquidity.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering unsecured market-linked notes due September 5, 2031, linked to the Dow Jones Industrial Average℠ and fully and unconditionally guaranteed by Morgan Stanley. Each note has a stated principal amount and issue price of $1,000 and pays no periodic interest.
At maturity, if the index’s final level on the September 2, 2031 observation date exceeds its initial level, holders receive $1,000 plus 100% of the index’s percentage gain, capped at a maximum payment of $1,561.50 per note (156.15% of principal). If the final level is equal to or below the initial level, investors receive only the $1,000 principal. The estimated value on the pricing date is approximately $968.70 per note, reflecting issuance, structuring and hedging costs.
The notes are subject to Morgan Stanley’s credit risk, will not be listed on any exchange, and may have limited or no secondary liquidity. The Dow Jones Industrial Average closing level on August 26, 2026 was 53,463.88. For U.S. tax purposes the securities are expected to be treated as contingent payment debt instruments, requiring accrual of interest income over their term.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering structured market-linked securities with a face amount of $1,000 per security, fully and unconditionally guaranteed by Morgan Stanley and linked to an equally weighted basket of two ETFs (XOP and XLK) maturing on December 6, 2027.
The notes provide 100% upside participation in the basket’s gain up to a maximum return of at least 14.15% (at least $141.50), and a 15% downside buffer so principal is fully protected only if the basket decline does not exceed 15%. Below an 85% threshold, losses match further basket declines, up to an 85% loss of principal.
The public offering price is $1,000 with selling agents receiving up to $23.25 per security and Morgan Stanley Finance LLC receiving proceeds of $976.75 per security. The issuer estimates the value on the pricing date at about $954.20 per security, reflecting embedded issuance, structuring and hedging costs. The securities pay no interest, have limited liquidity, and all payments depend on Morgan Stanley’s credit.
MORGAN STANLEY (MS), via Morgan Stanley Finance LLC, is offering principal-at-risk Callable Contingent Income Securities due March 6, 2028 linked to the worst performing of the Nasdaq-100, Russell 2000 and S&P 500 indices. Each security has a stated principal amount and issue price of $1,000, with an estimated value on the pricing date of about $971 per security.
The notes pay a 9.00% per annum contingent coupon only if on each observation date all three indices are at or above their coupon barrier levels, set at 70% of their initial levels. Principal repayment at maturity also requires all final index levels to be at or above the same 70% downside thresholds; otherwise, investors lose 1% of principal for every 1% decline in the worst-performing index, potentially down to zero.
The securities are callable in whole, but not in part, on specified redemption dates starting December 4, 2026, if a risk neutral valuation model indicates early redemption is economically rational for the issuer. All payments are subject to Morgan Stanley’s credit risk, secondary market liquidity may be limited, and the U.S. federal income tax treatment is described as uncertain.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering Contingent Income Memory Buffered Auto-Callable Securities due October 2, 2031, linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. Each security has a $1,000 stated principal amount and issue price.
The notes pay a contingent coupon at 12.00% per annum, but only when the index on an observation date is at or above the coupon barrier, set at 75% of the initial level; missed coupons can be paid later if the barrier is subsequently met. The notes are automatically redeemed at par plus applicable coupons if the index on a redemption determination date is at or above the call threshold, set at 100% of the initial level, starting September 28, 2027.
If the notes are not called and the final index level is at or above the buffer level of 85% of the initial level, investors receive full principal plus any due coupons. If the final level is below the buffer, repayment is reduced 1% for every 1% decline beyond the 15% buffer, subject to a minimum maturity payment of 15% of principal. The estimated value on the pricing date is approximately $902.60 per security, and all payments are subject to the credit risk of Morgan Stanley Finance LLC and the Morgan Stanley guarantee.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk “Jump Securities with Auto-Callable Feature” maturing on August 28, 2031, linked to the worst performing of the SPDR® S&P MidCap 400® ETF (MDY) and the State Street® SPDR® S&P® Regional Banking ETF (KRE). Each security has a stated principal amount and issue price of $1,000, with an aggregate principal amount of $650,000, and is fully and unconditionally guaranteed by Morgan Stanley.
The notes may be automatically redeemed on any of 16 scheduled determination dates starting August 30, 2027 if the closing level of each ETF is at or above its call threshold (100% of its initial level: $694.00 for MDY; $74.33 for KRE). Early redemption pays a fixed cash amount per $1,000 security corresponding to about 10.40% per annum (from $1,104 on the first call date up to $1,494 on the last), after which no further payments are made.
If not called, maturity payoff depends on the final level of each ETF. If both are at or above their call thresholds, investors receive $1,520 per security. If at least one is below its call threshold but both are at or above a downside threshold of 70% of initial (MDY: $485.80; KRE: $52.031), investors receive only the $1,000 principal. If either ETF finishes below its downside threshold, the payout is $1,000 multiplied by the performance factor of the worst performing ETF, producing a 1-for-1 loss and potentially zero principal. The estimated value on the pricing date is $939.60 per security, reflecting issuance, selling, structuring and hedging costs. All payments are subject to Morgan Stanley’s credit risk, the securities pay no interest, and the tax treatment is described as uncertain, with potential application of the “constructive ownership” and Section 871(m) regimes.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is issuing Contingent Income Memory Buffered Auto-Callable Securities due August 28, 2031 linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index, with a stated principal amount of $1,000 per security and an aggregate principal amount of $300,000. The notes are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley, and carry principal risk.
Investors may receive a contingent coupon at 9.15% per annum, paid only if on each observation date the index closes at or above the coupon barrier level of 789.336 (60% of the 1,315.56 initial level). The notes are subject to automatic early redemption from August 2027 onward if the index is at or above the call threshold level of 1,184.004 (90% of the initial level), in which case holders receive principal plus due and unpaid contingent coupons. If held to maturity without early redemption and the final index level is at or above the buffer level of 1,118.226 (85% of the initial level), investors receive full principal back (plus any payable coupons); otherwise, they lose 1% of principal for each 1% decline beyond the 15% buffer, subject to a minimum payment at maturity of 15% of principal. The estimated value on the pricing date is $910.80 per security, below the $1,000 issue price, reflecting issuing, selling, structuring and hedging costs borne by investors.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering Callable Contingent Income Buffered Securities due September 7, 2028, fully and unconditionally guaranteed by Morgan Stanley. Each $1,000 note pays a 9.90% per annum contingent coupon only if, on each observation date, all three underliers (Nasdaq-100 Technology Sector Index, Russell 2000 Index and State Street Utilities Select Sector SPDR ETF) close at or above 70% of their initial levels.
The notes are callable in whole, but not in part, on scheduled redemption dates starting December 4, 2026 if a risk neutral valuation model indicates early redemption is economically rational for Morgan Stanley. If not called, and each final underlier level is at or above its 80% buffer level, investors receive full principal back plus any final contingent coupon. If any underlier finishes below its buffer, repayment is reduced 1% for each 1% decline of the worst performer beyond the 20% buffer, subject to a minimum payment of 20% of principal, so a substantial loss of capital is possible. The estimated value on the pricing date is approximately $985.30 per $1,000 note, reflecting issuing, selling, structuring and hedging costs, and the securities are subject to Morgan Stanley’s credit risk and limited liquidity.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk "Jump Securities with Auto-Callable Feature" due September 7, 2029, linked to the worst performing of the Dow Jones Industrial Average, the Russell 2000 Index and the State Street Technology Select Sector SPDR ETF. Each security has a stated principal amount and issue price of $1,000, with an estimated value on the pricing date of approximately $957.50 per security, reflecting issuance, selling, structuring and hedging costs.
The notes may be automatically redeemed on September 13, 2027 for a fixed $1,230 per security if all underliers are at or above their call thresholds (100% of initial levels). If not called, at maturity investors receive principal plus 170% of the gain of the worst underlier if all finish above initial levels; principal only if any are at or below initial but all stay at or above 70% downside thresholds; and a loss matching the full percentage decline of the worst underlier if any finish below the 70% threshold, potentially reducing the payment to zero. All payments depend on the credit of Morgan Stanley Finance LLC and the Morgan Stanley guarantee.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering $3,683,000 aggregate principal amount of Contingent Income Memory Auto-Callable Securities due August 27, 2031, linked to the S&P U.S. Equity Momentum 40% VT 4% Decrement Index. The notes are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley, and are principal-at-risk.
The securities pay a 12.50% per annum contingent coupon (with a memory feature) only when the index closes at or above the coupon barrier and downside threshold of 789.336 (60% of the initial level 1,315.56) on observation dates. They auto-call if the index is at or above 100% of the initial level (1,315.56) on specified redemption determination dates, returning principal plus due and unpaid coupons. If not called and the final index level is below the downside threshold, repayment is 1:1 exposed to index losses, up to total loss of principal. The issue price is $1,000 per note versus an estimated value of $920.60, reflecting embedded costs and issuer economics. Investors do not participate in any index appreciation.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering callable contingent income securities due September 8, 2028 linked to the worst performing of the S&P 500, Russell 2000 and Nasdaq-100 indices. Each $1,000 security pays a contingent quarterly coupon at 8.13% per year (about $20.325 per quarter) only if, on every index business day in the quarter, each index stays at or above 60% of its initial level, the coupon barrier. If any index closes below its barrier on any day in a period, no coupon is paid for that quarter.
The notes are callable quarterly starting December 9, 2026 at par plus any due coupon, but only if a risk neutral valuation model shows it is economically rational for Morgan Stanley to redeem. At maturity, if not called and each index is at or above 60% of its initial value (the downside threshold), investors receive $1,000 plus any final coupon; if any index is below its threshold, the payoff is $1,000 multiplied by the index performance factor of the worst index, which can be less than $600 and may be zero, so principal is fully at risk. The notes are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley, with an estimated value of about $975.20 per $1,000 on the pricing date, reflecting issuance, selling, structuring and hedging costs.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering market-linked notes due September 5, 2031 whose return depends on the Nasdaq-100 Index®. The notes are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley, and pay no periodic interest.
At maturity, investors receive $1,000 per note plus 100% of any positive index return, capped at a maximum payment of $1,554 per note (155.40% of principal). If the final index level is at or below the initial level, investors receive only the $1,000 principal. The estimated value on the pricing date is approximately $927.80 per note, reflecting issuance, structuring and hedging costs borne by investors.
The notes are subject to Morgan Stanley’s credit risk, will not be listed on any exchange, and may have limited or no secondary market liquidity. U.S. tax treatment is expected to follow contingent payment debt instrument rules, requiring annual interest income accruals regardless of actual cash payments.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk structured notes linked to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index, fully and unconditionally guaranteed by Morgan Stanley, with a stated principal amount of $1,000 per security and maturity on August 29, 2031.
The notes pay a 15.00% per annum contingent coupon only if the underlier’s closing level on each observation date is at or above the coupon barrier level of 2,575.373 (75% of the 3,433.83 initial level). They are auto-callable quarterly from November 27, 2026 if the underlier is at or above the call threshold of 3,433.83, returning principal plus the applicable coupon.
If not redeemed early, at maturity investors receive principal in full only if the final underlier level is at or above the buffer level of 2,918.756 (85% of initial). Below this, principal is reduced 1% for each 1% decline beyond the 15% buffer, subject to a minimum payment at maturity of 15% of principal. The estimated value on the pricing date is $914.30 per $1,000, and all payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Buffered Jump Securities with an auto-call feature linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index, maturing on October 2, 2031. Each security has a $1,000 stated principal amount and an estimated value on the pricing date of about $906.70, reflecting issuance, selling, structuring and hedging costs. The notes pay no interest and are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley.
The notes may be automatically redeemed quarterly from September 29, 2027 onward if the index closing level is at or above the call threshold level (100% of the initial level), for fixed early redemption payments starting at $1,192.50 per security and increasing over up to 48 determination dates, corresponding to about 19.25% per annum. If held to maturity and not previously called, investors receive $1,962.50 per security if the final level is at or above the call threshold; the stated principal amount if the final level is below the call threshold but at or above the buffer level (85% of initial); and otherwise a loss of 1% of principal for each 1% index decline beyond the 15% buffer, subject to a minimum payment at maturity of 15% of principal. Investors do not participate in any index appreciation, face significant downside risk and are exposed to Morgan Stanley’s credit risk.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk “Jump Securities” with an auto-callable feature maturing on September 5, 2031, linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. The notes are unsecured and fully and unconditionally guaranteed by Morgan Stanley.
Each security has a $1,000 stated principal amount and issue price, with an estimated value of about $934.10 on the pricing date, reflecting structuring and hedging costs. The notes pay no interest and can be automatically redeemed starting with the first determination date on September 2, 2027 if the index closes at or above the call threshold (80% of the initial level), for early redemption payments that imply roughly 16.15% per annum and increase over time.
If not redeemed early, at maturity investors receive $1,807.50 per security if the final index level is at or above the call threshold, only principal back if the final level is between the 80% call threshold and the 50% downside threshold, and a 1:1 loss of principal for any decline below the downside threshold, potentially losing the entire investment. All payments depend on Morgan Stanley’s credit, and the complex underlier includes leverage, volatility targeting and a 4% annual decrement, with limited operating history and significant market and liquidity risks.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering $250,000 of Buffered Performance Leveraged Upside Securities (Buffered PLUS) due August 28, 2031, linked to the S&P 500® Futures Excess Return Index. Each security has a $1,000 principal amount and pays no interest.
At maturity, investors receive leveraged upside of 212% of any index gain above the initial level of 612.17. If the index ends between the initial level and the buffer level of 520.345 (85% of initial), investors receive principal only. Below the buffer, principal is reduced one-for-one with index losses beyond the 15% buffer, but not below a 15% minimum payment. The securities are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley, and expose holders to both market risk and issuer credit risk. The estimated value on the pricing date is $972.90 per $1,000 security.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk “Jump Securities with Auto-Callable Feature” maturing August 28, 2031, linked to the worst performing of the S&P 500® Index, Russell 2000® Index and EURO STOXX 50® Index, in an aggregate principal amount of $12,635,000 at $1,000 per security.
The notes may be automatically redeemed quarterly starting August 27, 2027 if each index is at or above its call threshold (100% of its initial level), for fixed cash payments that imply about 10.89% per annum, up to $1,535.425 by the last call date. If not called, at maturity investors receive $1,544.50 per security if each index is at or above 90% of its initial level; $1,000 if each stays at or above 70% but at least one is below 90%; otherwise, repayment is reduced in proportion to the decline of the worst performing index, potentially to zero.
The initial index levels are SPX 7,677.28, RTY 3,010.022 and SX5E 6,455.63; upside thresholds are 90% and downside thresholds 70% of these. The securities pay no interest, do not guarantee principal, and all payments are subject to the credit risk of Morgan Stanley. The estimated value on the pricing date is $954.60 per security, below the issue price, reflecting embedded costs.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (MS), via Morgan Stanley Finance LLC, is offering principal-at-risk Enhanced Trigger Jump Securities maturing October 14, 2027, linked to the worst performer of the Nasdaq‑100, Russell 2000 and S&P 500 indices. Each security has a stated principal amount and issue price of $1,000, with an estimated value on the pricing date of about $988.40, reflecting embedded issuance, structuring and hedging costs.
At maturity, if every index finishes at or above 70% of its initial level (its downside threshold), investors receive $1,000 plus a fixed $112.50 upside payment (11.25%), regardless of how much the indices have risen. If any index finishes below its threshold, repayment is reduced 1% for each 1% decline in the worst-performing index, with no minimum, so principal can be fully lost. The notes pay no interest, are unsecured obligations of MSFL fully and unconditionally guaranteed by Morgan Stanley, and expose holders to Morgan Stanley credit risk, limited liquidity, index volatility (including small‑cap risk via the Russell 2000) and uncertain U.S. tax treatment.
MORGAN STANLEY (MS), via Morgan Stanley Finance LLC, is offering principal-at-risk Callable Contingent Income Securities due August 9, 2028, fully and unconditionally guaranteed by Morgan Stanley. The notes are linked to the worst performing of the Nasdaq-100® Technology Sector Index, the Russell 2000® Index and the S&P 500® Index.
Investors receive a 10.25% per annum contingent coupon only if on each observation date all three indices close at or above their respective coupon barrier levels (70% of the initial level in the examples). Principal is not protected: if at maturity any index finishes below its downside threshold level (also 70% of initial in the examples), repayment is reduced 1% for each 1% decline of the worst performer, potentially to zero.
The notes are callable in whole, but not in part, on specified redemption dates starting December 9, 2026, based solely on the output of a risk neutral valuation model, not on index performance. The issue price is $1,000 per security, while the estimated value on the pricing date is approximately $966.30 per security. U.S. tax disclosure indicates a treatment as prepaid financial contracts with ordinary-income coupons, and non-U.S. holders may face 30% withholding on coupons.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering Buffered PLUS structured notes maturing on September 14, 2029, linked to the worst performer of the iShares Bitcoin Trust ETF (IBIT) and the SPDR Gold Trust (GLD). The notes pay no interest and are fully and unconditionally guaranteed by Morgan Stanley, with principal at risk.
At maturity, if both underliers finish above their initial levels, investors receive $1,000 plus a 257% leveraged upside on the worst performer. If at least one underlier is at or below its initial level but both stay at or above 80% of initial (20% buffer), investors receive only the $1,000 principal. If either underlier ends below its 80% buffer, repayment is reduced 1% for each 1% decline beyond the 20% buffer, subject to a minimum payment of 20% of principal.
The estimated value on the pricing date is approximately $926.70 per $1,000 note, reflecting issuance, structuring and hedging costs. Investors face Morgan Stanley credit risk, limited or no secondary-market liquidity, high volatility in bitcoin and gold, and uncertain U.S. tax treatment, including potential “constructive ownership” and Section 871(m) considerations.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering structured “Jump Securities with Auto-Callable Feature” due December 17, 2027, linked to the worst performer of three sector ETFs: State Street Energy Select Sector SPDR ETF (XLE), iShares Semiconductor ETF (SOXX) and State Street Financial Select Sector SPDR ETF (XLF). Each security has a stated principal amount and issue price of $1,000 and is fully and unconditionally guaranteed by Morgan Stanley but is principal at risk and pays no coupons.
The notes may be automatically redeemed quarterly from December 14, 2026 onward if the closing level of each ETF is at or above its call threshold, for early redemption payments corresponding to a return of about 13.00% per annum (e.g., $1,032.50 on the first call date, rising to $1,151.667 on the 12th). If held to maturity and all ETFs are at or above 90% of their initial levels, investors receive $1,162.50 per security; if all are at or above 60% but any is below 90%, only principal is returned. If any ETF finishes below 60%, repayment is reduced 1% for every 1% decline of the worst performer, potentially to zero. The estimated value on the pricing date is approximately $967.40 per security, reflecting issuance, selling, structuring and hedging costs and Morgan Stanley’s credit spreads.