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 notes due February 23, 2029, fully guaranteed by Morgan Stanley. The securities are issued at a $1,000 stated principal amount per security and pay a contingent coupon at an annual rate of 8.00% subject to observation-date tests.
The notes reference the worst performing of the State Street® SPDR® S&P® Metals & Mining ETF (XME) and the VanEck® Gold Miners ETF (GDX). Key terms: coupon barrier = 65% of initial level, call threshold = 90%, buffer level = 85%, buffer amount = 15%, minimum payment at maturity = 15%. Automatic early redemption may occur on scheduled redemption dates if both underliers meet the call threshold; payment at maturity exposes investors to losses if the worst performing underlier falls below its buffer.
Morgan Stanley Finance LLC offers Principal at Risk Buffered Participation Securities linked to the MSCI Emerging Markets Index, fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000, a 100% participation rate, a 10% buffer, a maximum payment at maturity of $1,652.50 (165.25% of principal), a minimum payment of 10% of principal, an issue date of March 18, 2026, an observation date of March 13, 2028, and a maturity date of March 16, 2028. The estimated value on the pricing date is approximately $986.80 per security. Holders face issuer credit risk, no periodic interest, capped upside and potential for substantial principal loss if the final level is below the buffer.
Morgan Stanley Finance LLC is offering Principal‑at‑Risk auto‑callable securities linked to Meta Platforms, Inc. Class A common stock. The offering is for $761,000 aggregate in $1,000 per security denominations and matures on April 14, 2027.
The notes pay a contingent coupon at an annual rate of 12.12% on each coupon payment date only if the closing level of the underlier meets or exceeds the coupon barrier of $446.699 (about 69% of the initial level). The initial and call threshold level is $647.39; the downside threshold equals the coupon barrier.
If the notes are auto‑redeemed on any redemption determination date, holders receive the stated principal plus the contingent coupon for that period; if not auto‑redeemed and the final level is below the downside threshold, holders suffer principal loss pro rata (payment could be zero). All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC offers Principal at Risk Buffered Participation Securities linked to the S&P 500® Index with a $1,000 stated principal amount per security. The securities mature on March 16, 2028 with an observation date of March 13, 2028.
Key economics: 100% participation in upside subject to a maximum payment of $1,310.50 (131.05%); a 10% buffer against first losses and a minimum payment of $100 (10% of principal). Estimated value on the pricing date is approximately $986.20 per security.
Morgan Stanley Finance LLC is issuing contingent income auto-callable securities linked to Broadcom Inc. common stock with an aggregate principal amount of $10,083,000. The notes have a stated principal amount of $1,000 per security, an issue price of $1,000 and maturity on April 14, 2027.
The securities pay a contingent coupon at an annual rate of 13.32% only if the underlier meets a coupon barrier of $190.163 (approximately 55% of the initial level) on observation dates, and include automatic early redemption if the underlier closes at or above the call threshold of $345.75 on redemption determination dates. If not redeemed and the final level is below $190.163, investors suffer principal losses equal to the underlier’s decline; payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is offering principal-at-risk, contingent-income, memory auto-callable securities linked to the common stock of RTX Corporation, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an annual contingent coupon of 11.40%. The securities pay coupons only if the underlier meets the coupon barrier on observation dates and may be automatically redeemed on specified redemption determination dates. At maturity, if the final level is below the downside threshold (set at 65% of the initial level), principal is reduced proportionately; if the final level is at or above that threshold, investors receive principal. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC offers Structured Investments — Step-Down Jump Securities due March 22, 2029, fully and unconditionally guaranteed by Morgan Stanley. The securities have a stated principal amount of $1,000 per security and an issue price of $1,000 per security. The securities are principal‑at‑risk notes linked to the worst performing of the Nasdaq‑100, S&P 500 and Russell 2000 indices, include an automatic early redemption feature with determination dates beginning March 24, 2027, and pay at maturity either a fixed positive payment, return of principal, or a principal loss tied to the worst performing underlier. The estimated value on the pricing date is approximately $971.40 per security. All payments are subject to the issuer’s and guarantor’s credit risk.
Morgan Stanley Finance LLC offers $1,991,000 aggregate principal of contingent income auto-callable securities due April 14, 2027, fully and unconditionally guaranteed by Morgan Stanley. These principal-at-risk notes link to the worst performing of the Nasdaq-100® Technology Sector Index and the S&P 500® Index and pay a contingent coupon only when both underliers meet barrier tests on specified observation dates.
The securities carry a stated principal amount of $1,000 each, an issue price of $1,000, an estimated value on pricing of $964.50, and a contingent annual coupon rate of 10.44%. They feature automatic early redemption on specified dates if both underliers are at or above their call thresholds, otherwise maturity payment depends on the worst performing underlier and may result in partial or total principal loss.
Morgan Stanley Finance LLC is offering $2,000,000 principal-at-risk, market-linked, auto-callable securities due March 13, 2031, fully and unconditionally guaranteed by Morgan Stanley. The securities pay a contingent quarterly coupon at a per‑annum rate of 9.85% only if the lowest performing underlying on a quarterly calculation day is at or above 75% of its starting level. The securities are linked to the S&P 500®, Russell 2000® and Nasdaq-100® Technology Sector and reference starting levels set on the pricing date March 9, 2026. If not called, maturity payment is $1,000 if each underlying is at or above its downside threshold (75%); otherwise payment equals $1,000 multiplied by the performance factor of the lowest performing underlying, exposing holders to losses greater than 25%, possibly to zero. Price to public is $1,000 per security; estimated value on the pricing date is $945.20 per security. Agent commissions reduce proceeds to issuer to $971.75 per security.
Morgan Stanley Finance LLC is offering callable contingent income securities due April 2, 2029 linked to the worst performing of the Nasdaq-100, Russell 2000 and S&P 500 indices. The securities have a $1,000 stated principal amount and an issue price of $1,000 per security.
The securities pay a contingent coupon at an annual rate of 9.80% on each coupon payment date only if the closing level of each underlier is at or above its coupon barrier (60% of initial level) on the related observation date. If any underlier is below its coupon barrier on an observation date, no coupon is paid for that period. There is a principal-at-risk payoff: at maturity investors receive principal only if each final level is at or above its downside threshold (60% of initial level); otherwise payment equals stated principal multiplied by the performance factor of the worst performing underlier.
The notes are callable beginning October 1, 2026, and early redemption will occur only if a risk neutral valuation model indicates redemption is economically rational for the issuer. All payments are subject to Morgan Stanley's credit risk. The document reports an estimated value on the pricing date of approximately $986.40 per security.
Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable structured notes due April 1, 2030, fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and an issue price of $1,000, with an estimated value on the pricing date of approximately $963.50.
The securities reference the worst performing of the Dow Jones Industrial Average, Nasdaq-100 Index® and Russell 2000® Index. Automatic early redemption can occur on specified determination dates beginning with the first determination date of April 1, 2027 if each underlier meets its call threshold (100% of initial level). Downside protection is limited: a downside threshold is set at 70% of initial level, and if the worst performing underlier finishes below that level investors lose 1% for each 1% decline.
All payments are subject to Morgan Stanley's credit risk. The securities do not pay interest, do not participate in underlying appreciation, and could result in a significant loss of principal.
Morgan Stanley Finance LLC priced an auto-callable, principal-at-risk structured security linked to the lowest performing of the S&P 500®, Russell 2000® and Nasdaq-100® due March 13, 2031. The securities have a face amount of $1,000 per security and an estimated value on the pricing date of $951.00 per security.
The securities pay a contingent quarterly coupon at a 9.10% per annum rate only if the lowest performing underlying on the quarterly calculation day is at or above 75% of its starting level. The securities may be automatically called beginning approximately six months after issuance if each underlying on a calculation day is at or above its starting level. If not called, maturity pay‑out depends on the lowest performing underlying and investors may lose more than 25%, and possibly all, of their investment if that underlying is below its 75% downside threshold on the final calculation day. Minimum ticket size is $1,000.
Morgan Stanley Finance LLC is offering contingent income buffered auto-callable securities due March 15, 2029 with a stated principal amount of $1,000 per security. The notes pay a contingent coupon at an annual rate of 7.10% on observation dates when each underlier meets its coupon barrier and feature automatic early redemption if all underliers meet call thresholds on a redemption determination date. The securities are linked to the worst performing of the Nasdaq-100, Russell 2000 and S&P 500 indices, include a 30% buffer (minimum payment at maturity of 30% of principal) and expose investors to full downside beyond the buffer. All payments are subject to MSFL and Morgan Stanley credit risk.
Morgan Stanley Finance LLC offers contingent-income, principal-at-risk notes linked to the common stock of Broadcom Inc. Each security has a $1,000 original issue price and pays a contingent coupon at an annual rate of 17.00% on observation dates when the underlier meets the coupon barrier.
The notes are automatically callable on specified redemption determination dates if the closing level meets the call threshold. At maturity, holders either receive the stated principal if the final level is at or above the downside threshold or a principal payment reduced pro rata if the final level is below that threshold; losses could be total. All payments are subject to Morgan Stanley and MSFL credit risk.
Morgan Stanley Finance LLC priced contingent income auto-callable notes linked to Amazon.com, Inc. The offering is $4,877,000 aggregate at a stated principal of $1,000 per security and an issue price of $1,000 per security. The securities carry a contingent coupon at an annual rate of 11.40% payable only if the underlier meets the coupon barrier on observation dates. The initial level and call threshold are $213.49; the coupon barrier and downside threshold are $147.308 (approximately 69% of the initial level). The final observation date is April 9, 2027 and maturity is April 14, 2027. Automatic early redemption first possible after the redemption determination date of September 9, 2026. Payments are subject to issuer and guarantor credit risk and investors can lose part or all principal.
Morgan Stanley Finance LLC is offering $1,295,000 aggregate principal of Buffered PLUS structured notes, fully and unconditionally guaranteed by Morgan Stanley, with a stated principal amount of $1,000 per security. The securities reference the S&P 500® Index, have a 120% leverage factor, a 15% buffer, a maximum payment at maturity of $1,157 per security and a minimum payment of 15% of stated principal.
The strike and pricing dates are March 9, 2026, original issue date is March 12, 2026, the observation date is scheduled for September 9, 2027 (subject to postponement), and the maturity date is September 14, 2027. The initial level of the S&P 500® Index is stated as 6,795.99. Payments depend solely on the closing level on the observation date, and holders bear credit risk of Morgan Stanley and MSFL.
Morgan Stanley Finance LLC is offering $3,760,000 aggregate principal of principal‑at‑risk, contingent‑coupon, buffered auto‑callable securities linked to NVIDIA Corporation common stock, fully and unconditionally guaranteed by Morgan Stanley.
The securities have a stated principal of $1,000 per security, an annual contingent coupon of 13.60% payable only if the underlier meets the coupon barrier on observation dates, an automatic early redemption feature tied to a call threshold of $182.65 (100% of the initial level), a buffer of 25% (buffer level $136.988), and a minimum payment at maturity of 25%. The securities expose investors to credit risk of MS and permit loss of principal beyond the buffer if the final level is below the buffer.
Morgan Stanley is offering Global Medium‑Term Notes, Series I: fixed/floating rate senior notes due 2032 and 2047, as described in a Preliminary Pricing Supplement dated March 11, 2026. The notes will be issued in registered form and pay a fixed rate during an initial period, then a floating rate based on compounded SOFR for the remaining term.
The notes include optional make‑whole and other redemption features exercisable on specified dates and windows, require minimum denominations of $1,000, designate The Bank of New York Mellon as Calculation Agent, and carry tax analysis treating them as variable rate debt instruments by counsel Davis Polk & Wardwell LLP. Distribution is limited to qualified investors in applicable jurisdictions and the notes are not intended for EEA or UK retail investors.
Morgan Stanley Finance LLC files an amendment to a preliminary pricing supplement for a series of structured notes: Variable Income Memory Auto-Callable Notes due April 1, 2031, fully and unconditionally guaranteed by Morgan Stanley.
The notes reference the worst performing of five stocks: Palantir, Micron, AppLovin, Tesla and Oracle. They pay a variable coupon: a lower coupon of 0.25% or a higher coupon of 8.00%, with a conditional coupon of 7.75% for previously unpaid coupons. The notes can be automatically redeemed beginning with the redemption determination date of March 29, 2027. The stated principal amount is $1,000 per note and the issuer’s estimated value on the pricing date is approximately $937.40 per note.
Morgan Stanley Finance LLC, guaranteed by Morgan Stanley, is issuing principal‑at‑risk, auto‑callable structured notes linked to the S&P 500® Index. The securities have a $1,000 stated principal amount and an aggregate offering of $500,000. The strike date is March 5, 2026, pricing date March 6, 2026, original issue date March 11, 2026, first determination date March 18, 2027 and maturity date March 9, 2028.
The initial level and call threshold equal 6,830.71. If the underlier is at or above that call threshold on the first determination date, notes auto‑redeem for $1,119.70 each. If not redeemed, maturity payoffs: full principal if final level ≥ downside threshold (5,806.104, ~85% of initial); if final level > initial, investors receive principal plus a 150% participation in upside; if final level < downside threshold, investors suffer proportional losses down to potentially zero. Payments are subject to Morgan Stanley credit risk. Estimated value on pricing date: $980.00 per security; agent’s commission: $15 per security.
Morgan Stanley Finance LLC is offering Principal-at-Risk structured notes totaling $1,100,000 backed by Morgan Stanley. Each security has a stated principal amount of $1,000, an issue price of $1,000, an estimated value on the pricing date of $945.90 and a maturity date of March 8, 2030.
The notes are linked to the worst performing of the S&P 500®, Nasdaq-100® Technology Sector and Russell 2000® indices, feature automatic early redemption beginning with the first determination date on March 9, 2027, and pay fixed early redemption amounts corresponding to approximately 12.60% per annum if call conditions are met. If not called, payoff at maturity depends on the worst-performing underlier relative to a 70% downside threshold and may result in full loss of principal.
Morgan Stanley Finance LLC priced $1,000,000 aggregate of Principal-at-Risk structured notes linked to the Dow Jones Industrial Average, with $1,000 stated principal per security.
The notes pay no interest, are fully and unconditionally guaranteed by Morgan Stanley, and feature automatic early redemption on three determination dates with fixed early redemption payments that imply approximately 12.32% per annum. If not called, maturity payoffs depend on the final index level: full fixed upside if at or above the call threshold, return of principal if at or above an 80% downside threshold, and proportional loss below that threshold (losses could be total). All payments are subject to Morgan Stanley credit risk; estimated value on pricing date was $984.90 per security and original issue price was $1,000.
Morgan Stanley Finance LLC is offering $600,000 aggregate principal amount of Partial Principal at Risk Notes due September 14, 2027, fully and unconditionally guaranteed by Morgan Stanley.
Each note has a stated principal amount of $1,000, an issue price of $1,000, an estimated value on the pricing date of $979.80, and a partial principal return amount of 95%. The notes are linked to the SPDR® Gold Trust (GLD) with an initial level of $466.13 (strike date March 5, 2026), a 100% participation rate, and a maximum payment at maturity of $1,170.50 per note.
At maturity investors receive the principal plus upside if the underlier appreciates (capped at the maximum payment) or lose 1% of principal for each 1% decline in the underlier, subject to the notes' terms, MSFL and Morgan Stanley credit risk, and tax treatment described herein.
Morgan Stanley Finance LLC offers $1,000,000 of principal-at-risk, auto-callable notes fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and a contingent annual coupon of 15.00%. The notes pay contingent coupons only if on each observation date the EURO STOXX 50, Russell 2000 and S&P 500 closing levels are at or above their coupon barrier levels (70% of initial levels). The notes are automatically redeemed on Nov 12, 2026 if all three underliers close at or above 100% of their initial levels on the redemption determination date. At maturity on July 9, 2027, if any underlier is below its 70% downside threshold, payment equals $1,000 multiplied by the worst-performing underlier’s performance factor, potentially resulting in substantial loss or total loss of principal. All payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is offering Principal at Risk structured notes with an aggregate principal amount of $2,000,000. The notes have a stated principal amount of $1,000 per security, an original issue date of March 11, 2026, and mature on March 9, 2029. The securities are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley.
The notes are linked to the worst performing of the S&P 500® Index and the Russell 2000® Index, feature automatic early redemption on specified determination dates beginning March 10, 2027, and pay fixed early redemption amounts that correspond to approximately 10.75% per annum if called. If not automatically redeemed, a positive fixed payment of $1,322.50 applies only if both underliers finish at or above their downside thresholds; otherwise investors suffer a loss equal to the percentage decline of the worst performing underlier.
Morgan Stanley Finance LLC is offering $1,173,000 aggregate principal amount of auto-callable, principal-at-risk securities fully and unconditionally guaranteed by Morgan Stanley. The notes have a stated principal amount of $1,000 each, an issue price of $1,000, an estimated value on the pricing date of $912.80, and a participation rate of 125%.
The securities are linked to the worst performing of three underliers (XLE, NDXT, KRE), feature automatic early redemption if each underlier meets its call threshold on the first determination date (March 13, 2028) for an early redemption payment of $1,800, and mature on March 11, 2031. Investors may lose up to their entire principal if the worst performing underlier falls below its downside threshold (50% of initial level).
Morgan Stanley Finance LLC priced contingent income auto-callable notes linked to Delta Air Lines, Inc. common stock. The securities have a stated principal amount of $1,000 per security, an issue price of $1,000, and an estimated value on the pricing date of $955.10.
The notes pay a contingent coupon at an annual rate of 18.50% but only if the closing level of the underlier meets or exceeds the coupon barrier of $44.258 (approximately 75% of the initial level) on observation dates. The notes are automatically redeemed early if the closing level on a redemption determination date is at or above the call threshold of $59.01 (100% of the initial level), beginning with the first redemption determination date on September 8, 2026. If not redeemed, at maturity on March 9, 2029 investors receive principal if the final level is at or above the downside threshold of $44.258; if below, payment equals $1,000 × (final level / initial level), exposing holders to full downside.
Morgan Stanley Finance LLC is offering $5,000,000 aggregate principal amount of Buffered Participation Securities fully and unconditionally guaranteed by Morgan Stanley. The securities mature on June 1, 2027, have an original issue price of $1,000 per note and an estimated value on the pricing date of $979.60.
The notes provide 100% participation in positive basket performance up to a maximum payment of $1,139.50 (113.95% of principal). They feature a 20% buffer against losses: if the final basket value declines by 20% or less you receive par ($1,000); declines beyond 20% produce 1:1 downside exposure subject to a minimum payment of $200 (20% of principal). All payments are subject to issuer credit risk and the securities will not be listed.
Morgan Stanley Finance LLC is offering $702,000 of Principal at Risk securities (stated principal amount $1,000 per security). The notes mature on March 11, 2031 and pay a contingent coupon at an annual rate of 10.60% only if the underlier meets observation-date barriers.
The underlier is the S&P® 500 Futures 40% Intraday 4% Decrement VT Index with an initial level of 2,599.52 (strike date closing level). The coupon barrier is 1,819.664 (70% of the initial level), the call threshold is 2,339.568 (90% of the initial level) and the downside threshold is 1,559.712 (60% of the initial level). Estimated value on the pricing date was $907.30 per security and the issue price is $1,000 per security.
Morgan Stanley Finance LLC is offering callable, principal‑at‑risk notes linked to the worst performing of the NDXT Index, RTY Index and XLU Fund with a $1,000 stated principal amount per security and an aggregate principal amount of $1,000,000.
The securities pay a contingent coupon at an annual rate of 10.00% only when each underlier's closing level on an observation date is at or above its coupon barrier (70% of the initial level). A buffer of 20% protects against losses up to that amount; if the worst performing underlier falls below its buffer, investors lose 1% for each 1% decline beyond the buffer, subject to a minimum payment at maturity of 20% of principal. The securities mature on March 9, 2028, may be called beginning June 11, 2026 based on a risk‑neutral valuation model, and are unsecured obligations of MSFL fully guaranteed by Morgan Stanley.
Morgan Stanley Finance LLC priced $1,000 principal-at-risk, auto-callable securities fully guaranteed by Morgan Stanley. The issue totals $2,001,000 and links to the Dow Jones Industrial Average, Nasdaq-100 and Russell 2000.
The notes pay no interest, may auto-redeem on determination dates beginning March 15, 2027 for fixed early redemption payments (ranging from $1,137.00 to $1,342.50), mature on March 9, 2029, and return principal only if the worst-performing underlier is at or above its 70% downside threshold; below that level investors lose 1% per 1% decline in the worst underlier.
Morgan Stanley Finance LLC is offering $1,087,000 aggregate principal amount of Structured Investments — Dual Directional Buffered Participation Securities due February 10, 2028, fully and unconditionally guaranteed by Morgan Stanley.
The securities have a stated principal amount of $1,000 per security, an issue price of $1,000, and an estimated value on the pricing date of $975.80 per security. The payout depends on the performance of the iShares Expanded Tech-Software Sector ETF with an initial level of $87.97 and an observation date of February 7, 2028. The terms include a 15% buffer (buffer level $74.775), an upside participation rate of 100% subject to a maximum upside payment of $1,382.50 (138.25% of principal), an absolute-return participation rate of 100%, and a minimum payment at maturity of 15% of principal.
Morgan Stanley Finance LLC is offering $2,010,000 aggregate principal of dual directional buffered participation securities, $1,000 stated principal per security, linked to the Invesco S&P 500® Equal Weight ETF (RSP). The securities have a strike date of March 6, 2026, an observation date of February 7, 2028 and a maturity date of February 10, 2028.
Key economic terms: 100% upside participation (capped at $1,213.50 per security, or 121.35% of stated principal), 100% absolute return participation for declines above the buffer, a 15% buffer (buffer level = $168.428), and a minimum payment at maturity of 15% of stated principal. The estimated value on the pricing date was $985.30 per security and agent commissions equal $3.50 per security; securities are offered to fee-based advisory accounts.
Morgan Stanley Finance LLC is offering Principal at Risk callable contingent income buffered securities guaranteed by Morgan Stanley. The securities have a $1,000 stated principal amount and issue price, an aggregate principal amount of $8,902,000, and an estimated value of $975.30 on the pricing date. They pay a contingent coupon at an annual rate of 12.00% only if the closing level of each underlier meets its coupon barrier on each observation date. The notes are linked to the worst performing of the Dow Jones Industrial Average, Nasdaq-100 Technology Sector Index and Russell 2000, include a 20% buffer and a 20% minimum payment at maturity, are callable beginning on June 11, 2026 based on a risk-neutral valuation model, and mature on March 9, 2029.
Morgan Stanley Finance LLC is offering $2,070,000 aggregate principal amount of Contingent Income Auto-Callable Securities due March 9, 2029, fully guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and pays a contingent quarterly coupon at an annual rate of 11.27% only if the underlying Exxon Mobil closing price is at or above the downside threshold of $113.408 (approximately 75% of the initial share price of $151.21).
The securities may be automatically redeemed early if the underlying stock closes at or above the initial share price on any of the first eleven determination dates; if not redeemed, maturity payment depends on the final share price and can result in a full loss of principal. Estimated value on the pricing date was $961.30 per security and all payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering Principal at Risk contingent income auto-callable securities with a stated principal amount of $1,000 per security and an aggregate principal amount of $1,832,000. The securities have an issue price of $1,000, an estimated value on the pricing date of $974.40, a final maturity date of September 10, 2027 and are fully and unconditionally guaranteed by Morgan Stanley.
The notes reference the Nasdaq-100® Technology Sector Index (NDXT) and the Russell 2000® Index (RTY). They pay a contingent coupon at an annual rate of 12.72% only if both underliers meet coupon barrier levels on observation dates, feature automatic early redemption if both underliers meet call thresholds on redemption determination dates, and expose holders to full downside linked to the worst performing underlier with a downside threshold set at approximately 75% of the initial levels.
Morgan Stanley Finance LLC priced a primary offering of principal‑at‑risk auto‑callable notes. The offering totals $2,302,000 (aggregate) at a $1,000 stated principal amount per security with an original issue date of March 11, 2026 and maturity on December 11, 2030.
The notes are linked to the worst performing of the Dow Jones Industrial Average, the Nasdaq‑100® Technology Sector and the Russell 2000®. Automatic early redemption begins on March 15, 2027 across scheduled determination dates; the call threshold levels equal 100% of initial levels and downside thresholds equal 70% of initial levels. Early redemption payments correspond to a fixed return of approximately 11.70% per annum; the full payment at maturity if all underliers meet the call thresholds is $1,555.75 per security. Investors bear principal risk and Morgan Stanley credit risk; estimated value on the pricing date was $934.50 per security and selling commissions were $32.50 per security.
Morgan Stanley Finance LLC priced a principal-at-risk structured note offering. The Pricing Supplement describes Trigger PLUS notes linked to the MSCI Emerging Markets Index with a stated principal amount of $1,000 per security and an aggregate principal amount of $521,000. The notes have a 200% leverage factor, a maximum payment at maturity equal to $1,180 per security (118% of principal), an initial level of 1,499.72 and a downside threshold equal to 90% of the initial level (1,349.748). The securities pay no interest, are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley. The offering price is $1,000 per security (agent commission $20 per security) and the estimated value on the pricing date is $946.30. Payment at maturity depends on the closing level on the observation date May 6, 2027, subject to postponement for non-trading days and market disruption events.
Morgan Stanley Finance LLC priced a Buffered PLUS linked to a four‑component allocated basket, maturing March 11, 2031, and fully guaranteed by Morgan Stanley. The securities have a $1,000 stated principal amount, aggregate principal amount of $468,000, and an estimated value on the pricing date of $947.90. The observation date is March 6, 2031.
Key economic terms: a 125% leverage factor, a 15% buffer amount, a maximum payment at maturity of $1,620 (162% of principal), and a minimum payment at maturity of 15% of principal. The weighted allocation among the SPXFP Index, EURO STOXX 50, Russell 2000 and EFA Fund is determined on the observation date by ranking component performance (45%/25%/20%/10%). Securities pay no interest and may return less than principal if losses exceed the buffer. Securities were sold to fee‑based advisory accounts; agent commission is $5 per security.
Morgan Stanley Finance LLC priced $10,000,000 of Callable Contingent Income Securities due January 31, 2030. The notes pay a contingent quarterly coupon at an annual rate of 8.03% (≈$20.075 per quarter) only if each underlying index is ≥ 70% of its initial value on observation dates; downside threshold is 60%. The securities are callable quarterly beginning September 11, 2026 based on a risk neutral valuation model, have a stated principal amount of $1,000 and an issue price of $1,000 (estimated value on the pricing date: $962.10). Payments are based on the worst performing of the MSCI EAFE®, Russell 2000® and S&P 500® indices and are fully and unconditionally guaranteed by Morgan Stanley; investors bear principal risk and issuer credit risk.
Morgan Stanley Finance LLC prices Principal-at-Risk notes totaling $3,933,000. The securities are $1,000-denomination callable contingent income notes due March 9, 2029, fully guaranteed by Morgan Stanley. They pay a contingent coupon of 7.95% per annum only if each underlier—INDU, NDX, and SPX—meets its coupon barrier on observation dates. Early redemption may occur beginning March 11, 2027 if a risk-neutral valuation model indicates it is economically rational for the issuer. At maturity, if the worst performing underlier is below its 60% downside threshold, principal is reduced pro rata to that underlier’s performance; losses could be total.
Morgan Stanley Finance LLC offers Principal at Risk securities due April 1, 2030 fully and unconditionally guaranteed by Morgan Stanley. The notes pay a contingent coupon at an annual rate of 21.75% subject to monthly observation-date tests and may be called early based on a risk neutral valuation model.
The securities return the $1,000 stated principal at maturity only if the final level of each underlier is at or above its downside threshold (60% of its initial level); otherwise investors lose an amount equal to the decline in the worst performing underlier. Underliers are the Nasdaq-100® Technology Sector, the Russell 2000® Index and the VanEck® Semiconductor ETF. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC offers Buffered PLUS notes fully and unconditionally guaranteed by Morgan Stanley that reference a three-component basket (S&P 500®, EURO STOXX 50® and iShares MSCI Emerging Markets ETF). Each security has a $1,000 stated principal, 115% leverage factor, a 20% buffer and a March 25, 2031 maturity.
Payment at maturity depends on the final level versus the initial level and buffer: investors receive principal plus leveraged upside if the final level is higher, principal if the final level is between the buffer and initial level, and a pro rata loss beyond the buffer down to a 20% minimum payment. All payments are subject to issuer credit risk and pricing includes issuance, structuring and hedging costs.
Morgan Stanley Finance LLC amends Pricing Supplement No. 13,368 for a primary offering of Contingent Income Memory Auto-Callable Securities due January 18, 2028 with an aggregate principal amount of $1,030,000 at $1,000 per security.
The securities pay a contingent coupon at an annual rate of 9.00% subject to observation-date barriers (coupon barrier = 60% of initial levels) and are auto‑callable if each underlier meets a call threshold (100% of initial level) on specified redemption dates beginning April 13, 2026. Payment at maturity depends on the worst performing underlier (downside threshold = 60%); investors may lose principal and receive no coupons. Estimated value on the pricing date was $974.30; agent commission was $20 per security and proceeds to issuer were $980 per security.
Morgan Stanley Finance LLC is offering Principal at Risk structured notes due April 22, 2027, fully guaranteed by Morgan Stanley, linked to the worst performing of the S&P 500®, Nasdaq-100® and Russell 2000® indices. Each security has a stated principal amount of $1,000 and an issue price of $1,000; the estimated value on the pricing date is approximately $985.50.
At maturity the payout depends solely on the worst performing underlier: if each underlier is at or above its downside threshold (70% of initial level), holders receive principal plus a fixed upside payment (at least 12.00%). If any underlier is below its downside threshold, the payment equals principal times the performance factor of the worst performing underlier, and could be significantly less or zero. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC is offering Buffered PLUS notes linked to the iShares MSCI EAFE ETF (EFA) with a stated principal amount of $1,000 per security. The securities provide 114.40% leverage on upside above the initial level, a 10% buffer against losses, and a 10% minimum payment at maturity. Payment depends on the closing final level on the observation date of March 23, 2029. The securities pay no interest, are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley; all payments are subject to issuer credit risk.
Morgan Stanley Finance LLC is offering Contingent Income Auto-Callable Securities fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and an annual contingent coupon rate of 8.00%, payable only if both underliers meet coupon barrier tests on observation dates.
The notes reference the State Street® Energy Select Sector SPDR® ETF (XLE) and the State Street® SPDR® S&P® Oil & Gas Exploration & Production ETF (XOP), feature automatic early redemption on specified redemption determination dates if both underliers meet call thresholds (100% of initial level), and expose investors to principal loss at maturity if the worst performing underlier falls below a downside threshold (60% of initial level). The pricing and strike dates are March 24, 2026 and the maturity date is September 29, 2027. The estimated value on the pricing date is approximately $966.50 per security.
Morgan Stanley Finance LLC priced a Preliminary Pricing Supplement for Trigger PLUS notes due March 27, 2031, issued at a stated principal amount of $1,000 per security and fully and unconditionally guaranteed by Morgan Stanley. The securities reference the S&P 500® Futures Excess Return Index and pay no interest.
Payments at maturity depend on the index closing level on the observation date: investors receive the stated principal plus a 203% leverage factor times the index appreciation if the final level is greater than the initial level; principal is fully at risk below a 70% downside threshold (losses pro rata), with no minimum payment. The estimated value on the pricing date was approximately $968.60 per security; the issue price includes underwriting, structuring, hedging and other costs.
Morgan Stanley Finance LLC is offering principal-at-risk, dual directional buffered jump securities tied to the S&P 500® Index with a $1,000 stated principal amount per security. The securities mature on April 15, 2031 and do not pay interest.
Key economic terms disclosed: an upside payment of $388.50 per security (38.85%), an absolute return participation rate of 400%, a buffer equal to 20% of the initial level, and a minimum payment at maturity of 20% of the stated principal. The estimated value on the pricing date is approximately $969.30 per security. All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC priced Principal-at-Risk structured notes due March 20, 2031 with a $1,000 stated principal per security linked to the Roundhill Magnificent Seven ETF (Bloomberg: MAGS).
The notes offer 100% upside participation in the underlier, subject to a maximum upside payment of $2,757.50 (275.75% of principal). They include a 25% buffer (buffer level = 75% of initial level) and a 100% absolute return participation feature that can deliver a capped positive return if the final level is between the buffer level and the initial level. If the final level is below the buffer level, investors lose 1% of principal for each 1% decline beyond the buffer; the minimum payment at maturity is 25% of principal. The document shows an estimated value on the pricing date of approximately $965.30 per security. All payments are subject to Morgan Stanley's credit risk.