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 a preliminary offering of principal-at-risk, auto-callable Buffered Jump Securities linked to the S&P 500® Index with a $1,000 stated principal amount and an issue price of $1,000 per security. The securities have a 10% buffer, a 125% participation rate and a 10% minimum payment at maturity.
Key dates: strike/pricing March 26, 2026, first determination date April 1, 2027 (auto-call tested), early redemption date April 6, 2027 for an early redemption payment of $1,098.80, and maturity March 30, 2028. Estimated value on the pricing date is approximately $973.60 per security. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering structured Buffered Jump Securities due March 16, 2028, fully and unconditionally guaranteed by Morgan Stanley. The securities have a $1,000 stated principal amount and an issue price of $1,000 per security, with an estimated value on the pricing date of approximately $979.20.
The notes reference the S&P 500® Index with an initial level (strike) of 6,775.80. An automatic early redemption is possible on the first determination date March 24, 2027 if the closing level is at or above the call threshold (6,775.80), producing an early redemption payment of $1,095.20 on March 29, 2027. If not redeemed, maturity payment on March 16, 2028 depends on final level: full principal plus an upside payment at a 125% participation rate for appreciation; full principal if final level is at or above the buffer level (5,420.64, 80% of initial); or losses equal to 1.25% of principal for each 1% decline beyond the 20% buffer (downside factor 1.25), potentially resulting in a total loss.
Morgan Stanley Finance LLC offers Trigger Autocallable Contingent Yield Notes linked to the least performing of the Invesco S&P 500® Equal Weight ETF (RSP) and the Invesco QQQ, Series 1 (QQQ).
The Securities have a Principal Amount of $10.00, an Issue Price of $10.00, an estimated Trade Date value of $9.595, a term to the Final Maturity Date of March 18, 2031, and quarterly contingent coupons with a preliminary range of 7.50% to 8.10% per annum (actual rate set on the Trade Date). Coupon Barriers are 70% of each Initial Underlying Price and Downside Thresholds are 60% of each Initial Underlying Price. The notes are automatically callable beginning September 14, 2026 if both Underlyings close at or above their Initial Underlying Prices on an Observation Date. Payments and principal are linked to the performance of the Least Performing Underlying Shares; if that Underlying closes below its Downside Threshold at maturity, investors can lose a significant portion or all of principal.
Morgan Stanley Finance LLC (guaranteed by Morgan Stanley) is offering Auto-Callable Trigger PLUS notes linked to the S&P 500® Index with a $1,000 stated principal per security. The pricing date is March 31, 2026, original issue date April 6, 2026, and maturity is April 5, 2028.
The securities are automatically redeemed if the index closing value on the first determination date (April 7, 2027) is greater than or equal to the initial index value, for an early redemption payment of $1,096.30 per security. If not redeemed early, the maturity payoff is: 1) if final index value > initial index value, $1,000 + ($1,000 × index percent change × 125%); 2) if final index value ≥ the downside threshold level (80% of initial), $1,000; 3) if final index value < downside threshold, a loss equal to the index decline on a 1-to-1 basis (payment could be less than $800 and may be zero).
The issuer estimates the securities' value on the pricing date at approximately $961.30. All payments are subject to Morgan Stanley's credit risk; holders could lose some or all of their investment.
Morgan Stanley Finance LLC is offering contingent income memory buffered auto-callable securities with an aggregate principal amount of $1,000,000, fully and unconditionally guaranteed by Morgan Stanley. The notes have a $1,000 stated principal amount, a 9.00% contingent coupon, a 10% buffer with a 1.1111 downside factor, a maturity date of March 13, 2031 and a first redemption determination date of September 9, 2027. Coupons are paid only if the closing level of each underlier (the Dow Jones Industrial Average, the Russell 2000® Index and the S&P 500® Index) meets or exceeds its coupon barrier on observation dates; otherwise coupons may remain unpaid and only become payable later if conditions are met. If not automatically redeemed and the final level of any underlier is below its buffer level, investors suffer losses equal to 1.1111% of principal for each 1% decline beyond the 10% buffer, and there is no minimum payment. All payments are subject to issuer credit risk and the estimated value at pricing was $974.80 per security.
Morgan Stanley Finance LLC prices a Dual Directional Auto-Callable Trigger PLUS linked to the common stock of Broadcom Inc. The securities have a stated principal amount of $1,000 per security and an early redemption payment of $1,248.50 if the underlying closes at or above the initial share price on the first determination date. The pricing date is March 31, 2026, original issue date April 6, 2026, first determination date April 7, 2027, final determination date March 31, 2028, and maturity April 5, 2028. The securities provide an upside participation of 150% if the final share price is at or above the initial share price, an absolute-return feature capped at +35% if the final share price is between the initial price and the downside threshold, and a downside exposure equal to the share performance factor if the final share price is below the downside threshold (which is 65% of the initial share price). All payments are "subject to our credit risk."
Morgan Stanley Finance LLC is offering Trigger Jump Securities maturing July 6, 2027, guaranteed by Morgan Stanley, linked to the iShares® Expanded Tech-Software Sector ETF.
The securities pay no interest and provide a fixed $262 upside payment per security (a 26.20% return) if the final share price is at or above the initial share price on the valuation date. If the final share price is between the trigger level (85% of the initial share price) and the initial share price, investors receive the $1,000 stated principal amount. If the final share price is below the trigger level, investors suffer a 1:1 loss in principal tied to the percentage decline in the underlying shares and may lose up to their entire investment. All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC is offering the Bearish Dual Directional Trigger PLUS linked to the inverse performance of the S&P 500® Index, maturing April 16, 2027. Each note has a $1,000 stated principal, 200% leverage on index declines, a trigger at 114% of the initial index value and a maximum payment of $1,300 (130% of principal). If the index rises by up to 14%, holders receive an unleveraged positive return up to $1,140. If the index rises beyond the trigger, holders lose 1% of principal for each 1% of index appreciation and may lose the entire investment. Estimated value on the pricing date is approximately $977.60. Pricing date is March 13, 2026 and original issue date is March 18, 2026. Payments are unsecured, subject to Morgan Stanley credit risk, and these notes will not be listed on an exchange.
Morgan Stanley Finance LLC is offering Trigger PLUS principal-at-risk notes linked to an equally weighted basket of ten stocks. The securities have a pricing date of March 31, 2026, an original issue date of April 6, 2026 and mature on April 5, 2028. The notes have a stated principal amount of $1,000 and an estimated value on the pricing date of approximately $885.60.
The payoff provides 150% leverage on positive basket performance up to a $1,460 cap (146.00% of principal). A trigger level of 80% provides limited protection only if the final basket value is at or above that level; if the final basket value is below the trigger, investors suffer proportional losses and may lose their entire investment. Sales commission is $20 plus a structuring fee of $5.
Morgan Stanley Finance LLC amends a preliminary pricing supplement for Buffered PLUS securities due April 30, 2027 linked to the S&P 500 Index. The securities have a stated principal amount $1,000, an issue price of $1,000, an estimated value on the pricing date of $988.30, and an observation date of April 27, 2027.
Key economic terms disclosed include a leverage factor 109%, a buffer amount 20% (buffer level = 80% of the initial level), a maximum payment at maturity $1,102.50 (110.25% of principal) and a minimum payment at maturity 20% of principal. Payment at maturity depends solely on the closing final level on the observation date and is subject to Morgan Stanley's credit support via an unconditional guarantee.
The Buffered PLUS are principal-at-risk notes issued by Morgan Stanley Finance LLC and fully guaranteed by Morgan Stanley, linked to the MSCI Emerging Markets Index with a 150% leverage factor and a 10% buffer.
Key terms: stated principal $1,000, maximum payment at maturity $1,357 (135.70%); minimum payment $100 (10%). Pricing date is March 31, 2026, original issue date April 7, 2026. Estimated value on the pricing date: approximately $953.30. Issues are unsecured, not listed, and subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC offers Dual Directional Buffered PLUS linked to the Russell 2000® Index due April 5, 2028, guaranteed by Morgan Stanley. Each Buffered PLUS has a stated principal of $1,000 and an issue price of $1,000. Pricing date is March 31, 2026 and original issue date is April 6, 2026.
Key economics: a 150% leverage factor on positive index returns up to a $1,197.70 cap per Buffered PLUS, a 15% buffer that provides an unleveraged positive return for limited declines, and a $150 minimum payment at maturity. The securities pay no interest, are unsecured obligations of MSFL, are subject to Morgan Stanley credit risk, and will not be listed on an exchange.
Morgan Stanley Finance LLC offers Trigger Jump Securities tied to Tesla, Inc. common stock, fully guaranteed by Morgan Stanley. Each security has a stated principal of $1,000, an upside payment of $457 (45.70%), and matures on October 5, 2027 with a valuation date of September 30, 2027.
If the final share price is at or above the initial share price, holders receive $1,000 plus the $457 upside payment. If the final share price is between the initial price and 65% of the initial price, holders receive $1,000. If the final share price is below that 65% threshold, the maturity payment equals $1,000 times the share performance factor and may be significantly less, possibly zero. The estimated value on the pricing date was approximately $965.30.
Morgan Stanley Finance LLC is offering Dual Directional Trigger PLUS linked to the VanEck® Gold Miners ETF (GDX), maturing October 5, 2027. Each Trigger PLUS has a stated principal of $1,000, no interest, and a 200% leverage factor for upside.
Key economic terms: the trigger level is 80% of the initial share price, the maximum payment at maturity is $1,492.80, pricing date is March 31, 2026, original issue date is April 6, 2026, and the estimated value on the pricing date is approximately $959.20. There is no minimum payment at maturity; investors may lose their entire investment and are exposed to Morgan Stanley credit risk. Secondary trading may be limited and purchases carry a $20 dealer commission plus a $5 structuring fee.
Morgan Stanley Finance LLC is offering Performance Leveraged Upside Securities (PLUS) linked to the S&P 500® Index due July 6, 2027. Each PLUS has a $1,000 stated principal amount, a 300% leverage factor for index appreciation, and a maximum payment at maturity of $1,151.20 (115.12%).
The PLUS pay no interest, are unsecured obligations of MSFL and guaranteed by Morgan Stanley, and expose investors to a 1:1 decline in principal for index losses. Pricing date is March 31, 2026, issue date April 6, 2026, estimated initial value approximately $966.00 and original issue price $1,000 (includes fees).
Morgan Stanley Finance LLC (guaranteed by Morgan Stanley) is offering Performance Leveraged Upside PLUS linked to the EURO STOXX 50® Index with a 300% leverage factor, maturity July 6, 2027 and valuation date June 30, 2027. Each PLUS has a stated principal of $1,000, an estimated pricing-date value of $966.20, and a maximum payment at maturity of $1,236.50 (123.65%). If the final index value exceeds the initial value, holders receive $1,000 plus 300% of the index percent increase, capped at the maximum. If the index declines, holders lose 1% of principal for each 1% decline and may lose their entire investment. Payments are unsecured obligations of MSFL and are subject to Morgan Stanley credit risk. Pricing date is March 31, 2026 with original issue date April 7, 2026.
Morgan Stanley Finance LLC priced Trigger Jump Securities linked to NVIDIA Corporation common stock with a $1,000 stated principal and maturity on October 5, 2027, fully and unconditionally guaranteed by Morgan Stanley.
The securities pay no interest; if the final share price is at or above the initial share price the holder receives $1,000 + $404.50 (a 40.45% upside payment). If the final share price is between the initial price and the downside threshold (70% of the initial share price), holders receive the $1,000 principal. If the final share price is below the downside threshold, payment equals $1,000 × (final/initial), which could be less than $700 or zero. The valuation date is September 30, 2027.
Morgan Stanley Finance LLC is offering Callable Jump Notes due March 13, 2031, fully and unconditionally guaranteed by Morgan Stanley. The offering is for $250,000 aggregate principal in $1,000 denominations.
The notes reference the S&P 500® Futures Excess Return Index with an initial level of 549.92 and a participation rate of 127%. If not redeemed, payment at maturity equals stated principal plus the upside payment (stated principal × participation rate × underlier percent change) when the final level exceeds the initial level; otherwise only stated principal is paid.
The notes include a call feature beginning March 19, 2027, with fixed redemption payments (e.g., $1,080 on first redemption date). All payments are subject to the issuer's credit risk; notes are unsecured, not exchange-listed, and estimated value on pricing date was $941.30 per note.
Morgan Stanley Finance LLC (guaranteed by Morgan Stanley) is offering Performance Leveraged Upside Principal at Risk Securities (PLUS) linked to the Tokyo Stock Price Index (TOPIX) maturing on July 6, 2027. Each PLUS has a stated principal amount of $1,000, an original issue price of $1,000, an estimated value on the pricing date of $961.70, a leverage factor of 300% for upside and a maximum payment at maturity of $1,246.60 (124.66% of principal). If the final index value exceeds the initial index value, investors receive principal plus 300% of the index percent increase, capped at the maximum payment. If the index declines, investors lose 1% of principal for each 1% decline and may lose their entire investment. All payments are subject to Morgan Stanley’s credit risk, and the PLUS will not be listed for trading.
Morgan Stanley Finance LLC is issuing structured, principal-at-risk callable notes fully guaranteed by Morgan Stanley with an aggregate principal amount of $34,871,000. Each security has a stated principal of $1,000, an annual contingent coupon of 10.50%, and matures on March 14, 2029.
The notes pay coupons only if the closing level of each of three underliers meets its coupon barrier (75% of initial levels) on observation dates. A 25% buffer and a downside factor of 1.3333 apply at maturity: losses occur based on the worst-performing underlier beyond the buffer. The notes are callable beginning May 14, 2026, subject to a risk-neutral valuation model determination. All payments are subject to Morgan Stanley's credit risk; estimated value on pricing date was $983.00 per security.
Morgan Stanley Finance LLC priced an offering of auto-callable, principal‑at‑risk market‑linked securities with an $1,000 face amount per security and an aggregate face amount of $2,750,000. The securities reference the lowest performing of the Dow Jones Industrial Average, the Russell 2000® Index and the S&P 500® Equal Weight Index, have a pricing date of March 9, 2026, an original issue date of March 12, 2026, and mature on September 12, 2031.
The securities are auto‑callable on scheduled semiannual calculation days beginning March 12, 2027 with fixed cash call payments that range from $1,107.50 to $1,591.25. If not called, maturity payment depends on the performance factor of the lowest performing underlying; losses may exceed 25% and could be total. The issuer estimates the value per security at $980.60 on the pricing date.
Morgan Stanley Finance LLC offers preliminary pricing for Buffered Participation Securities due March 16, 2028, fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and links to the MSCI EAFE® Index. The securities pay no interest and provide a 100% participation rate on any appreciation and a 10% buffer against declines (buffer level = 90% of the initial level). At maturity investors receive principal plus the upside payment if the final level is above the initial level; principal only if the final level is between the buffer level and the initial level; and a reduced payment pro rata for declines beyond the buffer, subject to a minimum payment at maturity of 10% of principal. Key dates include strike and pricing on March 13, 2026, original issue date March 18, 2026, observation date March 13, 2028, and maturity March 16, 2028. All payments are subject to the issuer’s and guarantor’s credit risk, estimated value on pricing date was approximately $979.40 per security, and secondary market liquidity may be limited.
Morgan Stanley Finance LLC is offering structured, principal-at-risk notes due April 1, 2030, fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and features automatic early redemption tied to three indices and a downside threshold of 70% of initial levels. Investors may receive fixed early redemption payments up to $1,551.25 per security on scheduled dates or a payment at maturity that can be the stated principal, a higher fixed cash amount ($1,630.00) if all call thresholds are met, or a loss proportional to the worst performing underlier (potentially zero). All payments are subject to the credit risk of Morgan Stanley and MSFL; the securities do not pay interest and do not guarantee repayment of principal.
Morgan Stanley Finance LLC is offering Principal at Risk structured notes called "Structured Investments Jump Securities with Auto-Callable Feature" due April 1, 2031. Each security has a stated principal amount of $1,000 and an issue price of $1,000; the estimated value on the pricing date was approximately $978.90.
The securities reference the Dow Jones Industrial Average, the S&P 500® Index and the Russell 2000® Index and feature automatic early redemption beginning on April 1, 2027. Early redemption payments are fixed per schedule (e.g., $1,121.50 on first redemption) and the maturity payment depends on whether each underlier meets a call threshold (95% of initial level) or a downside threshold (75% of initial level). Investors face full principal risk if the worst performing underlier falls below its downside threshold.
Morgan Stanley Finance LLC priced principal-at-risk, auto-callable notes due April 1, 2031, guaranteed by Morgan Stanley. The securities have a $1,000 stated principal per security and an issue price of $1,000; the issuer’s estimated value on the pricing date was approximately $958.30. Automatic early redemption can occur on scheduled determination dates beginning April 1, 2027 if each underlier meets its call threshold (95% of initial level). If not called, maturity payments vary: $1,512.50 if all underliers meet call thresholds; return of principal if all are at or above downside thresholds (75%); otherwise payment equals principal times the performance factor of the worst performing underlier, which can result in a total loss of principal. The securities are linked to the Dow Jones Industrial Average, the S&P 500 Index and the Russell 2000 Index and expose holders to issuer credit risk, limited upside, early redemption risk, and small-cap index volatility.
Morgan Stanley Finance LLC priced a preliminary offering of callable, principal-at-risk contingent income securities fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and a contingent coupon at an annual rate of 8.45%.
The notes pay the coupon only if each underlier (the Nasdaq-100, Russell 2000 and S&P 500) closes at or above its coupon barrier (60% of initial) on each observation date. The securities are callable beginning October 1, 2026 based on a risk-neutral valuation model selected by the calculation agent. At maturity on April 2, 2029, if the worst performing underlier is below its 60% downside threshold, investors suffer proportional principal loss (possible total loss); if all underliers are at or above the downside threshold, investors receive principal.
Morgan Stanley Finance LLC is offering $500,000 aggregate principal of contingent-income, memory-buffered, auto-callable notes tied to Palo Alto Networks common stock. Each security has a $1,000 stated principal amount and an issue price of $1,000.
The securities pay a contingent coupon at an annual rate of 16.00% on observation dates when the closing level is at or above the coupon barrier ($132.04, 80% of the initial level). They are automatically redeemed if the closing level on a redemption determination date is at or above the call threshold ($165.05), with early redemption no earlier than June 8, 2026 (first determination date) and maturity on September 11, 2026.
At maturity, if the final level is below the buffer ($132.04, 80% of initial), investors suffer losses equal to the underlier percent decline beyond the 20% buffer multiplied by a 1.25 downside factor; there is no minimum payment. All payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC offers principal-at-risk notes due September 14, 2028 guaranteed by Morgan Stanley linked to the worst performing of the Dow Jones Industrial Average and Microsoft Corporation common stock. The securities pay a fixed coupon at an annual rate of 9.50% monthly and repay principal at maturity only if both underliers finish at or above their downside thresholds.
If the final level of either underlier is below its downside threshold (70% of its initial level), payment at maturity equals the stated principal amount multiplied by the performance factor of the worst performing underlier; investors can lose a significant portion or all principal. Strike date was March 10, 2026, pricing date March 11, 2026, original issue date March 16, 2026, observation date September 11, 2028 (subject to postponement).
Morgan Stanley Finance LLC offers principal-at-risk, auto-callable securities linked to the worst performing of NVIDIA Corporation and Microsoft Corporation common stock. Each security has a $1,000 stated principal amount and an original issue price of $1,000. The securities may be automatically redeemed on the first determination date of March 17, 2027 for an early redemption payment of $1,520 if each underlier meets its call threshold (NVDA initial level $184.77; MSFT initial level $405.76). Final determination date is March 12, 2029 with maturity on March 15, 2029. At maturity, holders may receive: (a) principal plus an upside payment if both final levels exceed their initials; (b) only principal if both final levels are at or above their downside thresholds (90% of initial levels); or (c) a loss proportional to the decline of the worst performing underlier if that underlier is below its downside threshold, which could result in a total loss. Participation rate is 150%. All payments are subject to Morgan Stanley Finance LLC’s and Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC offers $2,660,000 of Principal-at-Risk structured notes due March 9, 2028 fully and unconditionally guaranteed by Morgan Stanley. The securities have a stated principal amount of $1,000 per security and an estimated value on the pricing date of $969.60.
The notes reference a four-stock basket (APO, BX, ARES, KKR), feature an automatic early redemption on the first determination date (March 19, 2027) at a fixed early redemption payment of $1,230, a 150% participation rate, an upside payment of $460, a 15% buffer and a downside factor of 1.1765. Final determination is on March 6, 2028.
Morgan Stanley Finance LLC is offering principal-at-risk notes linked to the State Street Energy Select Sector SPDR ETF (XLE) with a stated principal amount of $1,000 per security. The securities mature on April 15, 2027 and do not pay interest.
Key payout terms: initial level $55.60 (strike date March 10, 2026); a 28% buffer amount (buffer level $40.032); upside participation rate 100% capped at a maximum upside payment of $1,008; minimum payment at maturity of 28% of principal. The securities are unsecured obligations of MSFL and are fully guaranteed by Morgan Stanley; all payments are subject to issuer credit risk.
Morgan Stanley Finance LLC priced Principal-at-Risk notes linked to the S&P 500® Index with a $1,000 stated principal amount per security and an aggregate principal amount of $1,200,000. The securities pay a contingent coupon at an annual rate of 10.00% on specified observation dates only if the underlier meets the coupon barrier level; they feature automatic early redemption if the index meets the call threshold on any redemption determination date. At maturity, if the final level is below the downside threshold (80% of the initial level), repayment equals the stated principal multiplied by the performance factor and could be significantly less than principal or zero. All payments are unsecured and subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC is offering structured, principal‑at‑risk notes due March 25, 2031 that are fully and unconditionally guaranteed by Morgan Stanley. The notes reference the worst performing of the XLE Fund, the NDXT Index and the KRE Fund, include an automatic early redemption feature, and have a stated issue price of $1,000 per security.
The notes pay no regular interest, have a participation rate of 125% for upside on the worst performing underlier, an early redemption payment of $1,790 (first determination date March 27, 2028), and a downside threshold equal to 50% of each initial level. The issuer estimated the securities' value on the pricing date at approximately $918.70 per security.
Morgan Stanley Finance LLC priced $4,405,000 of Principal at Risk structured notes due March 10, 2031, fully guaranteed by Morgan Stanley. The notes pay a contingent coupon at an annual rate of 10.85% on specified observation dates and are automatically redeemable beginning with the first redemption determination date on March 10, 2027 if the underlier meets the call threshold.
Payments at maturity depend on the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index: if the final level is at or above 60% of the initial level (the downside threshold), investors receive principal; if below 60%, principal is reduced pro rata to the index performance and could be zero. All payments are subject to Morgan Stanley's credit risk and the securities do not participate in upside beyond the contingent coupons.
Morgan Stanley Finance LLC amends Pricing Supplement No. 13,628 relating to structured, principal-at-risk securities due January 31, 2031, fully and unconditionally guaranteed by Morgan Stanley.
The offering registers an aggregate principal amount of $1,728,000 in securities with a stated principal amount of $1,000 per security and an estimated value on the pricing date of $985.40 per security. The notes are linked to the worst performing of the Dow Jones Industrial Average, S&P 500® and Russell 2000® and feature automatic early redemption beginning on the first determination date, February 2, 2027, with specified early redemption payments and a final maturity payment schedule that can return $1,480, $1,000, or a reduced principal tied to the worst performing underlier down to zero.
Morgan Stanley Finance LLC is offering principal-at-risk auto-callable securities linked to the worst performing of the S&P 500® Index and the VanEck® Gold Miners ETF. The offering aggregates $1,010,000 at an issue price of $1,000 per security and an estimated value on the pricing date of $954.80. The securities pay a contingent coupon at an annual rate of 13.80% only if both underliers meet coupon barrier tests on observation dates, and are subject to automatic early redemption if both underliers meet call thresholds on redemption determination dates. Coupon barrier levels are 70% of initial levels and downside threshold levels are 60% of initial levels. If at maturity the worst performing underlier is below its downside threshold, investors suffer proportional principal loss; payments may be significantly less than principal or zero. All payments are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley; payments remain subject to issuer credit risk.
Morgan Stanley Finance LLC is offering structured, principal-at-risk notes called Buffered Jump Securities with an auto-callable feature, issued at $1,000 per security and fully guaranteed by Morgan Stanley. The securities have a March 16, 2026 issue date and mature on March 15, 2028.
The notes reference a four-stock basket (APO, BX, ARES, KKR) with equal 25% weights. Key economics: call threshold 100, early redemption payment $1,235 (first determination date March 23, 2027), participation rate 150%, upside payment $470, buffer level 85 (buffer amount 15%), downside factor 1.1765. Estimated value on the pricing date: approximately $967.20.
Investors bear credit risk of Morgan Stanley, may lose principal if final level falls below the buffer, and pay issuance costs including a $15 placement fee per security.
Morgan Stanley Finance LLC priced $2,012,000 aggregate principal of Principal at Risk Securities due March 14, 2028. Each security has a stated principal amount of $1,000 and is fully guaranteed by Morgan Stanley. The securities are linked to the worst performing of the S&P 500, Russell 2000 and Nasdaq-100 indices.
The securities pay no interest. If the worst performing underlier is at or above its upside threshold (80% of its initial level), holders receive the $1,000 principal plus an upside payment of $242.50 (24.25%). If the worst performing underlier is between the upside and downside thresholds (80%–70%), holders receive the $1,000 principal. If the worst performing underlier is below 70% of its initial level, holders suffer a prorated loss of principal equal to the percentage decline in that underlier; there is no minimum payment.
The estimated value on the pricing date was $984.50 per security, the issue price is $1,000 and MS & Co. received $4 per security in fees; proceeds to issuer per security are $996. All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC prices a 6‑month PLUS linked to the VanEck® Semiconductor ETF. Each security has a $1,000 stated principal amount and a March 17, 2027 maturity. The initial level was $397.33 (strike date March 10, 2026) and the observation date is March 12, 2027.
At maturity investors receive the stated principal plus a 300% leverage on upside capped at a $1,338 maximum payment (133.80% of principal). If the final level is below the initial level, investors lose 1% of principal for each 1% decline in the underlier; there is no minimum payment and the principal could be entirely lost. All payments are subject to MSFL credit risk and guaranteed by Morgan Stanley.
Morgan Stanley Finance LLC priced a structured, principal-at-risk note offering fully and unconditionally guaranteed by Morgan Stanley. The securities: stated principal $1,000 per security, aggregate principal $811,000, issue price $1,000, estimated value $975.60. The notes pay a contingent coupon at an annual rate of 12.20% on specified observation dates only if each underlier meets its coupon barrier.
The notes are linked to the worst performing of the Dow Jones Industrial Average, the Nasdaq-100® Technology Sector Index, and the Russell 2000® Index, mature on March 14, 2029, and include quarterly observation/coupon dates and an issuer call feature beginning on June 12, 2026 that depends on a risk-neutral valuation model. Principal is at risk: if the worst performing underlier finishes below a 70% downside threshold, maturity payment is reduced proportionally and could be zero.
Morgan Stanley Finance LLC priced a principal-at-risk, contingent-income auto-callable note offering totaling $250,000 with a $1,000 stated principal per security. The securities are fully and unconditionally guaranteed by Morgan Stanley and mature on March 12, 2032. The contingent coupon is set at 17.45% per annum and will be paid only if the underlier meets the coupon barrier on each observation date. The initial level (strike) was 2,632.21 on March 9, 2026; the coupon barrier is 1,842.547 (70% of initial) and the downside threshold is 1,316.105 (50% of initial). The estimated value on the pricing date was $922.20 per security and the securities may auto‑redeem on specified dates if the call threshold is met.
Morgan Stanley Finance LLC proposes an offering of Trigger PLUS principal‑at‑risk securities, each with a stated principal amount of $1,000, fully and unconditionally guaranteed by Morgan Stanley. The securities mature on September 23, 2027 and reference the worst performing of the EURO STOXX 50, iShares MSCI EAFE (EFA) and iShares MSCI Emerging Markets (EEM) underliers.
The terms state a leverage factor of 195%, a downside threshold at 70% of each underlier’s initial level, and an estimated value on the pricing date of $974.60 per security. Payment at maturity depends solely on closing levels on the observation date: investors receive leveraged upside if the worst performing underlier appreciates, principal at par if the worst performing underlier is between initial level and the downside threshold, and suffer losses 1% for each 1% decline of the worst performing underlier below its downside threshold (with no minimum payment).
Morgan Stanley Finance LLC is offering Principal at Risk PLUS securities due March 31, 2031. Each security has a stated principal amount of $1,000 and a leverage factor of 121.50%; payment at maturity is determined by the worst performing of the Russell 1000® and S&P 500® indices. If both underliers finish above their strike levels, holders receive principal plus 121.50% of the appreciation of the worst performing underlier. If either underlier finishes at or below its initial level, repayment equals the stated principal amount multiplied by the performance factor of the worst performing underlier, and there is no minimum payment (investors could lose their entire principal). All payments are subject to the credit risk of Morgan Stanley and guaranteed by Morgan Stanley; MSFL is a finance subsidiary with no independent assets.
Morgan Stanley Finance LLC is offering structured, principal‑at‑risk buffered participation securities linked to the Roundhill Magnificent Seven ETF. The securities have a $1,000 stated principal amount per security, are fully and unconditionally guaranteed by Morgan Stanley and pay no interest.
Key terms: participation rate 100%, a 10% buffer (buffer level = 90% of the initial level), a maximum payment at maturity of $1,780 per security (178% of stated principal), an observation date of March 27, 2029 and maturity on April 2, 2029. The estimated value on the pricing date is approximately $943.10 per security. Payments at maturity depend solely on the closing level of the underlier on the observation date and are subject to issuer credit risk.
Morgan Stanley Finance LLC offers Principal-at-Risk auto-callable securities totaling $300,000 aggregate principal ($1,000 stated principal per security), fully and unconditionally guaranteed by Morgan Stanley. The notes pay a contingent coupon at an annual rate of 17.45% on observation dates when the closing level of NVIDIA common stock is at or above the coupon barrier of $127.855 (70% of the initial level). The securities can be automatically redeemed on specified redemption determination dates if NVIDIA’s closing level is at or above the call threshold of $182.65 (100% of the initial level). If not redeemed, maturity payment depends on the final level relative to the downside threshold of $127.855: if below that threshold investors lose 1% of principal for each 1% decline in the underlier and could lose their entire principal. All payments are subject to issuer and guarantor credit risk; the estimated value on the pricing date was $969.10 per security.
Morgan Stanley Finance LLC priced Structured Investments — Buffered Jump Securities — with an aggregate principal amount of $3,208,000, fully and unconditionally guaranteed by Morgan Stanley. The securities were issued at $1,000 per security (estimated value on the pricing date: $907.90) with a stated principal amount of $1,000 and a maturity date of March 13, 2031.
The notes carry an automatic early redemption feature beginning with the first determination date on March 10, 2027, and fixed early redemption payments that correspond to roughly 12.40% per annum on successively higher scheduled determination dates. The underlier is the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index (initial level on the strike date: 1,147.47), with a call threshold equal to 90% of the initial level (1,032.723) and a buffer set at approximately 85% of the initial level (975.350).
At maturity, if the final level is at or above the call threshold investors receive $1,620.00 per security; if between the call threshold and buffer they receive the stated principal amount; if below the buffer they absorb losses beyond the 15% buffer, subject to a minimum payment of 15% of principal. All payments are subject to Morgan Stanley's credit risk; selling commissions of $42.50 per security were paid, with proceeds to issuer of $957.50 per security.
Morgan Stanley Finance LLC is offering principal-at-risk structured notes totaling $6,734,000 issued at $1,000 per security. The notes are linked to the worst performing of the Russell 1000® Value Index and the Russell 2000® Index, have an automatic early redemption test on February 3, 2027 and mature on February 2, 2029.
Key economics: the participation rate is 150%, the early redemption payment is $1,170, the initial levels (strike date) were 2,163.133 (RLV) and 2,613.743 (RTY), and downside thresholds are ~80% of initial levels. Estimated value at pricing was $976.30 per security. All payments are subject to Morgan Stanley’s credit risk; principal can be partially or wholly lost if the worst performing underlier falls below its downside threshold.
Morgan Stanley Finance LLC is offering principal‑at‑risk, auto‑callable structured notes due March 31, 2031, fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and may auto‑redeem on scheduled determination dates for fixed early redemption payments. If not auto‑redeemed, maturity payouts depend on the final levels of the Dow Jones Industrial Average and the S&P 500® Index. Investors face full principal risk if the worst performing underlier falls below its downside threshold (90% of initial level). The pricing date and strike date are March 26, 2026; estimated value on pricing date is approximately $945.70 per security. All payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is offering structured, principal‑at‑risk notes fully guaranteed by Morgan Stanley linked to the common stock of NVIDIA Corporation. The notes have a $1,000 stated principal amount, an observation date of April 13, 2027 and mature on April 16, 2027.
If the final level is at or above a downside threshold set at 60% of the initial level, holders receive the stated principal plus a fixed upside payment of $154.50 (15.45%). If the final level is below that threshold, investors lose 1% of principal for each 1% decline in the underlier; there is no minimum payment and principal could be lost in full. The estimated value at pricing was approximately $978.30 per security and the issue price is $1,000 per security, with an agent commission of $10 and a structuring fee of $1.
Morgan Stanley Finance LLC priced a preliminary offering of contingent income, memory auto-callable principal-at-risk notes linked to the Class A common stock of Vertiv Holdings Co. Each note has a $1,000 stated principal, issue price $1,000, estimated value ~$972.30, a 16.00% contingent coupon, a maturity date of March 15, 2029 and a final observation date of March 12, 2029. The initial level and call threshold equal $270.06, the coupon barrier is $135.03 (50% of initial), and the downside threshold is $108.024 (40% of initial). Payments depend on observation-date closing levels; investors can lose principal if the final level is below the downside threshold.