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 Finance LLC priced an offering of $209,000 aggregate principal of Trigger PLUS principal-at-risk securities, fully guaranteed by Morgan Stanley. The notes have a stated principal of $1,000 per security, an estimated pricing-date value of $912.00 per security and mature on March 31, 2031.
The securities pay at maturity based on the S&P 500® Futures Excess Return Index performance with a 172% leverage factor on upside, a downside threshold equal to 70% of the initial level (initial level: 523.68), and no guaranteed minimum payment. Purchases bear an agent commission of $36.25 per security and all payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC priced a structured, principal‑at‑risk note — Buffered Jump Securities with an auto‑callable feature tied to the S&P 500® Index. The offering sizes each security at a $1,000 stated principal amount and aggregates to $1,343,000. The securities pay no regular interest and carry automatic early redemption on the first determination date if the underlier closes at or above the call threshold (the initial level of 6,477.16), producing an early redemption payment of $1,098.80. If not called, maturity payoff depends on index performance: a participation rate of 125% applies to upside; a 10% buffer protects against the first 10% of losses, with losses beyond the buffer passed through dollar‑for‑dollar, subject to a 10% minimum payment at maturity. Estimated value on the pricing date was $966.50 per security; investors bear issuer credit risk, structuring and distribution costs, and tax uncertainty.
Morgan Stanley Finance LLC priced Principal-at-Risk auto-callable notes totaling $3,362,000 linked to the worst performing of the Dow Jones Industrial Average, the Nasdaq-100 Technology Sector Index and the Russell 2000 Index. The securities have a $1,000 stated principal amount, an original issue price of $1,000 and an estimated value on the pricing date of $940.90. They pay a contingent coupon at an annual rate of 10.20% only when each underlier is at or above its coupon barrier on specified observation dates, feature automatic early redemption on specified call dates and expose investors to full downside tied to the worst performing underlier (70% downside threshold; 80% coupon barrier; 100% call thresholds). All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley; holders bear issuer credit risk.
Morgan Stanley Finance LLC offers $291,000 aggregate principal amount of Structured Investments — Buffered Jump Securities with an auto-callable feature, fully and unconditionally guaranteed by Morgan Stanley. The securities have a $1,000 stated principal amount, a 150% participation rate, an 80% buffer (20% buffer amount), a one-time early redemption test on March 29, 2027 and maturity on March 29, 2029. If auto‑redeemed on the first determination date, the early redemption payment is $1,115 per security. If not auto‑redeemed, maturity payoffs depend on the worst performing underlier (S&P 500, Nasdaq-100 Technology Sector, Russell 2000), with a minimum payment at maturity equal to 20% of principal. The original issue price is $1,000 per security and the estimated value on the pricing date is $935.70 per security. All payments are subject to Morgan Stanley's credit risk and the offering includes $25 commissions per security.
Morgan Stanley Finance LLC (guaranteed by Morgan Stanley) priced principal-at-risk, auto-callable structured notes linked to the worst-performing of the S&P 500®, EURO STOXX 50® and Russell 2000®. The securities have a $1,000 stated principal amount, were priced on March 26, 2026, and mature on March 31, 2031.
The notes pay no interest, carry a 150% participation rate on the upside if all underliers finish above their initial levels, and feature an automatic early redemption on April 6, 2027 (early redemption payment: $1,250) if each underlier equals or exceeds its call threshold (100% of initial levels). If the worst-performing underlier falls below its downside threshold (70% of initial level), principal is reduced proportionately and could be lost.
Morgan Stanley Finance LLC priced Principal at Risk notes due March 31, 2031 linked to the S&P 500 Futures 40% Intraday 4% Decrement VT Index. The securities pay a contingent coupon of 8.75% per annum on observation dates if the underlier is at or above the coupon barrier level (1,172.075, 50% of the initial level) and include an automatic early redemption feature at the call threshold (2,344.15, 100% of the initial level). Principal is returned at maturity only if the final level is at or above the downside threshold (1,172.075); otherwise payment equals principal times final/initial level and could be significantly less or zero. Issue price is $1,000 per security (estimated value $882.60); aggregate principal offered is $100,000. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC priced a structured note offering linked to the worst performer of MSFT, GOOG (Class C) and NVDA. The issue totals $562,000 in aggregate principal at $1,000 per security with an estimated value of $939.80 on the pricing date. The notes are principal-at-risk, feature a 100% initial call threshold, a 30% buffer (70% buffer level), an upside participation of 150% (capped at a 30% effective upside when positive), automatic early redemption on the first determination date and a minimum payment at maturity of 30%.
All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley and are subject to the issuer’s credit risk. The securities do not pay interest and incorporate dealer commissions of $42.50 per security.
Morgan Stanley Finance LLC is offering 480 securities at a stated principal amount of $1,000 per security (aggregate principal amount $480,000) of Buffered PLUS linked to the worst performing of iShares® Silver Trust (SLV) and SPDR® Gold Trust (GLD). The securities pay no interest and mature on March 31, 2031. At maturity investors receive either: the stated principal plus a 165% leveraged upside on the worst performing underlier if it appreciates; the stated principal if the worst performing underlier is down but ≥ the 15% buffer; or a pro rata loss beyond the buffer, subject to a minimum payment of 15% of principal. Issue price is $1,000 with an estimated value of $861 on the pricing date; selected dealers receive a $32.50 commission per security. All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley and remain subject to issuer credit risk.
Morgan Stanley Finance LLC priced contingent income, auto-callable notes due March 29, 2029, fully guaranteed by Morgan Stanley. Each note has a $1,000 stated principal amount and pays a 8.25% contingent coupon only if all three underliers meet coupon barriers on observation dates.
Automatic early redemption can occur beginning on March 29, 2027 if each underlier equals or exceeds its call threshold; at maturity investors receive principal only if all underliers are at or above the 70% downside thresholds, otherwise payoff equals principal × performance of the worst performing underlier.
Morgan Stanley Finance LLC priced a principal-at-risk note offering of $3,005,000 aggregate principal, issued as $1,000-denominated securities with an original issue price of $1,000 per security and an estimated value of $914.20 on the pricing date. The securities pay a fixed coupon of 7.00% per annum, feature monthly coupons, an automatic early redemption if the underlier equals or exceeds the call threshold (1,044.94), and a maturity payment that protects only the first 15% of underlier decline (buffer level 888.199), with a minimum payment at maturity of 15% of principal. All payments are unsecured and subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC priced a contingent income, principal-at-risk note series backed and guaranteed by Morgan Stanley that is linked to Oracle Corporation common stock. The offering consists of $135,000 aggregate principal (135 securities at $1,000 each) with a contingent annual coupon of 16.75%, automatic early‑redeem features, and a maturity of March 30, 2028.
The notes pay contingent coupons only if Oracle's closing level meets the coupon barrier (60% of the initial level) on observation dates; principal is at risk if the final level is below the 60% downside threshold, producing a pro rata loss equal to the underlier's decline.
Morgan Stanley Finance LLC priced principal-at-risk auto-callable securities linked to Tractor Supply Company stock. The offering is $2,535,000 aggregate at $1,000 per security with an estimated value of $959.80. Securities pay a contingent coupon of 10.25% per annum, auto-call on observation dates at the call threshold $44.87, and mature on April 2, 2029. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold of $29.166; otherwise payments decline pro rata and could be zero. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC priced contingent income auto-callable securities fully guaranteed by Morgan Stanley, offering 120 securities at a $1,000 stated principal amount each (aggregate $120,000). The notes pay a 9.00% annual contingent coupon if both underliers meet coupon barrier tests on observation dates and are automatically redeemable on specified redemption determination dates. Coupons and early redemption depend on closing levels of the Nasdaq-100 Technology Sector Index and the Russell 2000 Index; downside threshold and coupon barrier levels are ~75% of initial levels. Payment at maturity exposes investors to loss equal to the percentage decline of the worst-performing underlier if that underlier is below its downside threshold, and all payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC is offering Structured Investments — Buffered Jump Securities with Auto-Callable Feature, fully and unconditionally guaranteed by Morgan Stanley. The securities are issued at a $1,000 stated principal amount and have an original issue date of March 31, 2026, with a maturity date of January 2, 2029. The offering aggregates $5,331,000 and the estimated value on the pricing date was $940.40 per security. The notes provide a 15% buffer and a minimum payment at maturity equal to 15% of principal; investors receive fixed early redemption payments (approximate return 9.50% per annum) if both underliers meet call threshold levels on determination dates. Payments depend on the worst performing of the VanEck® Gold Miners ETF (GDX) and the State Street® SPDR® S&P® Metals & Mining ETF (XME) and are subject to issuer credit risk and the other risks described.
Morgan Stanley Finance LLC is offering Buffered PLUS notes due March 31, 2031, unsecured and fully guaranteed by Morgan Stanley, linked to the worst performing of the Dow Jones Industrial Average and the S&P 500. The offering is for $1,000 per security with an aggregate principal amount of $577,000. The notes provide a 135.85% leverage factor on positive performance of the worst performing underlier, a 15% downside buffer and a minimum maturity payment of 15% of principal. Payments depend solely on closing levels on the observation date; losses occur if the worst performing underlier is below its buffer, and all payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC (guaranteed by Morgan Stanley) priced $1,109,000 aggregate principal of contingent‑income, memory buffered auto‑callable notes due March 31, 2031. Each security has a stated principal amount of $1,000 and an issue price of $1,000.
The notes pay a contingent coupon at an annual rate of 8.00% on each coupon payment date only if the closing level of the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index is at or above the coupon barrier (60% of the initial level). The notes feature an automatic early‑redemption test beginning on March 29, 2027 (call threshold = initial level) and provide a 20% buffer at maturity with a 20% minimum payment. The estimated value on the pricing date was $896.40 per security. All payments are subject to issuer credit risk.
Morgan Stanley Finance LLC is offering Principal at Risk Structured Investments—Enhanced Trigger Jump Securities linked to Tesla, Inc. common stock, with an aggregate principal amount of $302,000 and a stated principal amount of $1,000 per security. The securities pay no interest and are fully guaranteed by Morgan Stanley.
At maturity on April 29, 2027, if the final level of the underlier on the observation date is at or above the downside threshold (60% of the initial level), holders receive the stated principal plus a fixed upside payment of $170 (17%). If the final level is below the downside threshold, holders suffer proportional principal loss (1% loss for each 1% decline), with no minimum payment and potential loss of the entire investment. Payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC priced contingent-income, principal-at-risk notes fully guaranteed by Morgan Stanley for an aggregate principal amount of $1,375,000. The securities have a $1,000 stated principal amount, an issue price of $1,000 and an estimated value on the pricing date of $929.90. They pay a contingent coupon at an annual rate of 13.15% only if the basket closing level on each observation date is at or above the coupon barrier (80%). The notes mature on April 1, 2031, are automatically redeemable if the basket is at or above the call threshold (100%) on a redemption determination date, and provide a buffer of 20% (buffer level 80%) with a minimum payment at maturity of 20% of principal. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC priced an offering of structured, principal-at-risk notes linked to Citigroup Inc. common stock. The issue totals $8,012,000 in aggregate principal with a $1,000 stated principal per security and an estimated value on the pricing date of $954.30. The notes pay a contingent coupon at an annual rate of 10.10% on observation dates when the underlier is at or above the coupon barrier level of $59.059 (55% of the initial level). Automatic early redemption is possible if the closing level meets or exceeds the call threshold of $107.38. At maturity investors face full downside exposure below the downside threshold of $59.059, receiving a payment equal to the stated principal multiplied by the performance factor (final level/initial level). All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering Structured Investments — Market-Linked Notes due March 29, 2030, fully and unconditionally guaranteed by Morgan Stanley, with an aggregate principal amount of $158,000. Each note has a stated principal amount of $1,000 and pays no interest; repayment and any upside depend on the worst performing of the Russell 2000® Index and the EURO STOXX 50® Index on the observation date. The participation rate is 102%, the estimated value on the pricing date was $942.70 per note, and all payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is registering $8,568,000 of Principal at Risk securities linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. The notes have a $1,000 stated principal per security, a contingent annual coupon of 11.25% (paid only if the index meets the coupon barrier on observation dates), an 85% buffer level, a 15% buffer amount, and a minimum payment at maturity of 15% of principal. The notes may be auto‑redeemed on specified dates if the index reaches the call threshold and are unsecured obligations of MSFL, fully guaranteed by Morgan Stanley. All payments are subject to the issuer’s credit risk.
Morgan Stanley Finance LLC is offering $500,000 aggregate principal amount of Structured Investments — Enhanced Trigger Jump Securities due March 28, 2031, based on the S&P 500® Index. Each security has a $1,000 stated principal amount and was issued at $1,000 per security.
At maturity the securities pay the stated principal plus a fixed upside payment of $481.60 if the final level is greater than or equal to the downside threshold level (5,603.115). If the final level is below that threshold, the payment equals the stated principal multiplied by the performance factor (final level / initial level), and investors may lose some or all principal. The securities are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley; all payments are subject to the issuer’s credit risk.
Morgan Stanley Finance LLC priced a series of principal-at-risk, buffered jump securities due March 30, 2028. The offering comprises securities with a stated principal amount of $1,000 per security and aggregate principal of $725,000. Payments depend on the worst performing of the Nasdaq-100 and Russell 2000 indices, a 10% buffer, a 150% participation rate for upside, and an automatic early redemption feature that pays $1,218 per security if both underliers meet their call thresholds on the first determination date. All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley and are subject to issuer credit risk.
Morgan Stanley Finance LLC priced $1,666,000 aggregate principal of structured, principal-at-risk notes linked to the Tokyo Stock Price Index with a stated principal amount of $1,000 per security. The notes offer an automatic early redemption on April 2, 2027 (first determination date) and mature on March 31, 2031.
The notes pay no interest, carry a 200% participation rate for upside if final level exceeds the initial level, and expose investors to full downside below a 50% threshold. Estimated value on pricing date was $945.70 per security and the issue price was $1,000 per security.
Morgan Stanley Finance LLC priced Principal at Risk structured notes — auto‑callable buffered jump securities — with an aggregate principal amount of $1,238,000 and a stated principal amount of $1,000 per security. The securities pay no regular interest, include a 15% buffer and a minimum payment at maturity of 15% of principal. Automatic early redemption applies on specified determination dates if the underlier meets the call threshold level (1,002.43), producing fixed early redemption payments up to $1,880 per security on the fourth scheduled call. If not called, maturity payoffs range from $2,100 (if final level >= call threshold) to a principal loss formula if the final level is below the buffer. All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley and are subject to the issuer's credit risk.
Morgan Stanley Finance LLC priced a contingent-income, principal-at-risk note tied to Blackstone Inc. common stock with a stated principal of $1,000 per security and aggregate principal amount of $970,000. The securities pay a 14.35% annual contingent coupon on scheduled coupon dates only if the underlier meets the coupon barrier and feature automatic early redemption if the underlier meets the call threshold on any redemption determination date. If not called, maturity pays full principal only if the final level is at or above the downside threshold; otherwise investors suffer a pro rata principal loss (performance factor = final level/initial level). All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley and are subject to issuer credit risk.
Morgan Stanley Finance LLC priced a structured-note offering of Variable Income Memory Auto-Callable Notes, fully guaranteed by Morgan Stanley, with an aggregate principal amount of $844,000 issued at $1,000 per note. The notes pay a variable coupon (0.25% lower / 8.00% higher) tied to the worst-performing stock of PLTR, MU, APP, TSLA and ORCL, include automatic early redemption mechanics beginning March 29, 2027, and mature on April 1, 2031. The estimated value on the pricing date was $930.30 per note; agent commissions are $40 per note, leaving proceeds to the issuer of $810,240.
Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable structured notes due April 5, 2027, 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 approximately $957.60.
The notes are linked to the worst performing of three ETFs (KRE, GDX, TLT). They feature automatic early redemption opportunities with fixed early redemption payments (examples range from $1,051.25 to $1,187.917 per $1,000 stated principal) and a fixed capped payment of $1,205 at maturity if each underlier meets its upside threshold. If the worst performing underlier falls below its downside threshold, investors lose proportionally and could lose their entire principal. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC priced structured, principal-at-risk, auto-callable notes due April 1, 2030 linked to the worst-performing of the S&P 500, Russell 2000 and EURO STOXX 50. The securities were issued at $1,000 per security (aggregate $10,189,000) with an estimated value on the pricing date of $954.60. Automatic early redemption can begin on the first determination date March 31, 2027, producing fixed early redemption payments (first payment $1,126.00). At maturity investors receive either a fixed positive payment (up to $1,504), the stated principal, or a loss equal to the decline of the worst-performing underlier (1% loss per 1% decline below the 60% downside threshold), and all payments are subject to issuer/guarantor credit risk.
Morgan Stanley Finance LLC priced a $3,643,000 offering of structured, principal‑at‑risk notes (stated principal $1,000 each) linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. The securities pay no interest, carry a 15% buffer and auto‑call on specified determination dates if the underlier meets a 90% call threshold (initial level 1,224.96; buffer level 1,041.216). Early redemption payments rise across serial determination dates (first determination date February 17, 2027), and maturity (February 19, 2031) payments depend on final level relative to the call threshold and buffer, with a 15% minimum payment at maturity. Estimated value at issuance was $911.20 and MS&Co. received $41.50 commission per security.
Morgan Stanley Finance LLC priced a primary offering of structured, principal‑at‑risk notes fully guaranteed by Morgan Stanley with an aggregate principal amount of $772,000 and a stated principal amount of $1,000 per security. The securities pay a contingent annual coupon of 13.00% on each coupon payment date only if the S&P® 500 Futures 40% Intraday 4% Decrement VT Index closes at or above the coupon barrier on the related observation date. If the final level on the final observation date is below the downside threshold (50% of the initial level), the payment at maturity equals the stated principal multiplied by the performance factor and could be significantly less than, or equal to, zero. All payments are subject to the issuer’s and guarantor’s credit risk. Observation dates begin March 20, 2026 and conclude on the final observation date February 20, 2031, with maturity on February 25, 2031.
Morgan Stanley Finance LLC amends Pricing Supplement No. 13,404 describing Dual Directional Trigger Jump Securities due January 25, 2029, fully and unconditionally guaranteed by Morgan Stanley.
The securities are principal‑at‑risk notes linked to the worst performing of the Russell 2000, Dow Jones Industrial Average and Nasdaq‑100. Each security has a stated principal amount of $1,000, an upside payment of $359 (35.90%), an estimated value on the pricing date of $978.90, and an aggregate principal amount offered of $250,000. Key payoff mechanics: full principal plus upside payment if all underliers finish at or above initial levels; a capped positive return (up to 30%) if the worst performing underlier declines but stays at or above its 70% downside threshold; and pro rata principal loss equal to the percentage decline of the worst performing underlier if it finishes below its 70% threshold, with no minimum payment at maturity.
Morgan Stanley Finance LLC is offering Structured Investments: Contingent Income Memory Auto-Callable Securities linked to the Class A common stock of Dave Inc. The offering is $500,000 aggregate with a $1,000 stated principal per security and an estimated pricing-date value of $951.80 per security. The notes pay a contingent coupon at an annual rate of 26.40% subject to observation-date barriers, feature automatic early redemption if the underlier closes at or above the call threshold $190.40 on a redemption determination date, and repay principal at maturity only if the final level is at or above the downside threshold $95.20 (50% of initial level). If the final level is below that threshold, payment at maturity equals the stated principal multiplied by the performance factor (final level/initial level), which could result in significant principal loss or zero return. All payments are unsecured and subject to Morgan Stanley credit risk. Coupon observation and redemption determination dates run from April 2026 through April 2027, with maturity on April 27, 2027.
Morgan Stanley Finance LLC is offering principal-at-risk, contingent income buffered auto-callable securities due November 1, 2028, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an original issue price of $1,000. The securities pay a contingent coupon at an annual rate of 5.50% on each coupon payment date only if the closing level of both underliers (the Nasdaq-100 Index and the Russell 2000 Index) is at or above their coupon barrier levels on the related observation dates. The securities are automatically redeemed early if both underliers are at or above their call threshold levels on any redemption determination date; otherwise payment at maturity depends on the worst performing underlier versus a 20% buffer, with a 20% minimum payment at maturity. Strike date and pricing date are April 28, 2026 with original issue date April 30, 2026. The estimated value on the pricing date is approximately $954.60 per security. All payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is offering Principal at Risk notes fully and unconditionally guaranteed by Morgan Stanley with a stated principal amount of $1,000 per security and an aggregate principal amount of $795,000. The notes reference the worst performing of Alphabet Inc. (GOOGL) and Amazon.com, Inc. (AMZN) and feature an automatic early redemption if both underliers meet their call thresholds on a determination date.
If not redeemed early, maturity payments vary: $1,666 per security if both underliers are at or above their call thresholds; the stated principal amount ($1,000) if each is at or above its downside threshold; otherwise a loss proportional to the worst performing underlier (payment could be zero). Initial levels were $330.54 for GOOGL and $234.34 for AMZN; call thresholds are 90% of initial levels and downside thresholds are 60% of initial levels. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC is offering market-linked, auto-callable principal-at-risk securities linked to the lowest performing of the Dow Jones Industrial Average, the Russell 2000® Index and the S&P 500® Equal Weight Index due April 28, 2032. Each security has a face amount of $1,000 and a pricing date of April 23, 2026. The preliminary pricing supplement states an estimated value on the pricing date of approximately $982.80 per security (within $55.00). Call dates begin April 28, 2027 and occur semiannually; specified call payments range from $1,129.00 up to $1,774.00 depending on the calculation day. If not called, maturity payment depends on the lowest performing underlying and can result in a loss greater than 25% or the loss of the full face amount.
Morgan Stanley Finance LLC offers market-linked, auto-callable principal-at-risk securities fully guaranteed by Morgan Stanley due April 6, 2029 with a face amount of $1,000 per security. The securities have a 125% participation rate, a threshold level of 75 (75% of starting level) and an automatic call feature on April 6, 2027. The pricing date is March 31, 2026 and the original issue date is April 6, 2026. Morgan Stanley estimates the securities’ value on the pricing date at approximately $953.10 (± $30.00). If not called, maturity payoff depends on the Basket’s ending level: full participation in positive returns at the stated participation rate, a return of principal if the ending level is between the starting level and threshold, or a loss 25% or total loss) if the ending level is below the threshold.
Morgan Stanley Finance LLC offers Buffered PLUS linked to a 10-stock equally weighted basket due May 3, 2028. Each Buffered PLUS has a $1,000 stated principal amount and an original issue price of $1,000 (estimated value on the pricing date approximately $966.90).
The securities provide 150% leveraged upside (subject to a $1,465 maximum payment at maturity), a 10% downside buffer and a minimum payment at maturity of $100 (10% of principal). Pricing date was April 16, 2026 and original issue date April 21, 2026. All payments are unsecured obligations of MSFL and are guaranteed by Morgan Stanley and are subject to the issuer’s credit risk.
Morgan Stanley Finance LLC offers $1,940,000 aggregate principal of structured, principal‑at‑risk notes with a 15% buffer and automatic early‑call feature, fully guaranteed by Morgan Stanley.
Each security has a $1,000 stated principal amount and issue price, an estimated value on the pricing date of $986.10, a strike date of March 24, 2026, pricing date March 25, 2026, original issue date March 30, 2026, observation date March 26, 2029 and maturity date March 29, 2029. The notes reference the XLP Fund, RSP Fund and the RTY Index, pay no regular interest, offer fixed early‑redemption payments that correspond to approximately 12.45% per annum if all underliers meet call thresholds on scheduled determination dates beginning March 29, 2027, and at maturity return $1,373.50 if each underlier is at or above its buffer level; otherwise losses are tied to the worst performing underlier beyond the 15% buffer, subject to a minimum payment of 15% of principal.
Morgan Stanley Finance LLC is offering structured Jump Notes due March 29, 2029 with payments linked to the worst-performing of META, GOOGL and NVDA. The offering totals $365,000 in aggregate principal at an issue price of $1,000 per note and an estimated value on the pricing date of $958.90 per note.
The notes pay no interest, carry automatic early redemption on specified determination dates beginning March 24, 2027, and provide fixed early redemption payments that correspond to a return of approximately 9.00% per annum if all three underliers meet their 100% call threshold levels. If not redeemed early and any underlier is below its threshold on the final determination date, investors receive only the stated principal amount.
Morgan Stanley Finance LLC is offering Structured Investments Partial Principal at Risk Notes due September 30, 2027, fully and unconditionally guaranteed by Morgan Stanley. The offering aggregates $1,426,000 with a $1,000 stated principal amount per note.
The notes pay no interest, return a partial principal return amount equal to 95% of principal at worst-case downside, and provide an upside payment equal to 100% participation in the worst performing underlier subject to a $1,211 maximum payment at maturity. Underliers: Nasdaq-100, S&P 500, and Dow Jones Industrial Average. All payments are subject to issuer credit risk; notes are unsecured and unlisted. The estimated value on the pricing date was $984.90 per note, and notes were sold to fee-based advisory accounts with an agent commission of $7 per note.
Morgan Stanley Finance LLC issues structured Auto-Callable Jump Notes with an aggregate principal amount of $1,026,000. The notes are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley.
The notes have a stated principal of $1,000 per note, an issue price of $1,000 and an estimated value on the pricing date of $974.00. They pay no interest, mature on March 29, 2029, and include an automatic early redemption feature on the first determination date of April 1, 2027 for an early redemption payment of $1,101.50 per note if each underlier meets its 100% call threshold.
Payments depend on the worst performing underlier (AMZN, MSFT, GOOGL). At maturity, if every final level exceeds its initial level investors receive the stated principal plus an upside payment = $1,000 × 125% × worst underlier percent change; if any final level is equal to or below its initial level investors receive only the stated principal. All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC priced a primary offering of structured, principal-at-risk notes fully and unconditionally guaranteed by Morgan Stanley. The issue totals $1,807,000 aggregate principal at a stated principal amount of $1,000 per security with an estimated value on the pricing date of $968.90 per security.
Terms: payoff linked to the MSCI Emerging Markets Index with a 10% buffer, 100% participation up to a $1,491 maximum payment, and a 10% minimum payment. Agent commissions of $22.50 per security are included in the issue price. Payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC priced a contingent-income, auto-callable note issue fully guaranteed by Morgan Stanley. The offering totals $1,811,000 aggregate principal at a $1,000 stated principal per security and an issue price of $1,000 per security.
The notes link to the worst performer of the Dow Jones Industrial Average, Nasdaq-100 and Russell 2000, pay a contingent annual coupon of 7.15% on observation dates if all underliers meet coupon barriers, feature automatic early redemption beginning March 25, 2027 if all underliers meet 90% call thresholds, and mature March 28, 2031. If any underlier is below the 70% downside threshold at maturity, principal is reduced pro rata to the worst performing underlier.
Morgan Stanley Finance LLC is offering $250,000 aggregate principal of Dual Directional Buffered PLUS notes due March 28, 2029, sold at a stated issue price of $1,000 per security. Each note has a 111% leverage factor on the upside, a 20% buffer and a 20% minimum payment at maturity. The securities reference the Nasdaq-100® Equal Weighted Index and the S&P® 500 Equal Weight Index and pay based on the worst performing underlier; estimated value on the pricing date was $978.20 per security. All payments are subject to the issuer’s and guarantor’s credit risk.
Morgan Stanley Finance LLC is offering Structured Investments—Contingent Income Memory Auto-Callable Securities due March 29, 2029, fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount, an issue price of $1,000 and an estimated value of $973.20 on the pricing date.
The securities pay a contingent coupon at an annual rate of 10.55% on scheduled coupon dates only if both the Russell 2000® and S&P 500® closing levels meet or exceed their coupon barrier levels on observation dates. The notes are auto‑callable beginning on March 24, 2027 if both underliers meet call thresholds (100% of initial levels). At maturity, if the worst performing underlier is below its downside threshold (≈80% of initial level), principal is reduced pro rata and could be zero. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC (guaranteed by Morgan Stanley) is offering $1,000 face‑amount, step‑up autocallable notes linked to the VanEck® Gold Miners ETF (GDX). The notes pay no interest and may be automatically called on two observation dates (expected ~12–14 months and ~24 months). If called, investors receive $1,000 plus a call premium (first call ~19.15%–22.47%; second call ~38.30%–44.94%). If not called, maturity (expected ~36 months) payoff depends on ETF performance: upside participation is 200% with a threshold settlement amount expected between $1,574.50 and $1,674.10; a trigger at 75% protects only to that level, with losses possible up to the full principal. Estimated trade‑date value is approximately $951.40 per note. All payments are subject to issuer and guarantor credit risk and notes are unsecured, non‑listed, and not FDIC insured.
Morgan Stanley Finance LLC is offering Principal at Risk callable securities with a stated principal amount of $1,000 per security, fully and unconditionally guaranteed by Morgan Stanley. The securities pay a contingent coupon of 11.00% per annum only if each underlier meets its coupon barrier on observation dates and carry a buffer amount of 20% and a minimum payment at maturity of 20% of principal.
The notes are linked to the worst performing of the Nasdaq-100® Technology Sector (NDXT), the Russell 2000® Index (RTY) and the State Street® Utilities Select Sector SPDR® ETF (XLU). They are callable beginning on July 7, 2026 based on a risk neutral valuation model selected by the calculation agent. If not redeemed, maturity is April 6, 2028; losses on principal occur if the final level of the worst performing underlier is below its buffer level.
Morgan Stanley Finance LLC is offering $500,000 aggregate principal of Structured Investments — Buffered Jump Securities — fully and unconditionally guaranteed by Morgan Stanley. The notes have a $1,000 stated principal amount, a 15% buffer, a downside factor of 1.1764, a 125% participation rate and an automatic early redemption feature with a first determination date of April 6, 2027 and early redemption payment of $1,155.30 per security.
The securities do not pay interest, are principal‑at‑risk and may result in a loss of principal if the Russell 2000® final level is below the buffer level on the final determination date. All payments are subject to the issuer’s and guarantor’s credit risk. Estimated value on the pricing date was $978.40 per security; issue price was $1,000 per security.
Morgan Stanley Finance LLC is offering Trigger Jump Securities tied to Microsoft Corporation common stock with a $1,000 stated principal amount and maturity on November 3, 2027. The securities pay no interest and provide a fixed $303 upside payment if the final share price is greater than or equal to the initial share price.
The securities return the $1,000 principal if the final share price is between the initial price and the downside threshold of 80% of the initial share price; if the final share price is below that threshold the payment equals $1,000 × (final share price / initial share price) and may be less than $800 or zero. Valuation date is October 29, 2027. Estimated value on the pricing date was approximately $965.40.