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 Contingent Income Auto-Callable Securities linked to the common stock of Citigroup Inc. The securities are sold at $1,000 per security with an aggregate principal amount of $2,521,000 and mature on March 8, 2029.
The notes pay a contingent coupon at an annual rate of 11.30% only if the closing level of the underlier meets or exceeds the coupon barrier ($66.792, or 60% of the initial level) on each observation date. The initial/strike level and call threshold equal $111.32. If the final level is below the downside threshold ($66.792), the payment at maturity equals the stated principal multiplied by the performance factor and could be significantly less than principal, possibly zero. All payments are subject to Morgan Stanley's credit risk. Commissions of $17.50 plus a structuring fee of $1 reduce proceeds; the estimated value on the pricing date was $971.10 per security.
Morgan Stanley Finance LLC priced $3,509,000 of Leveraged Buffered S&P 500® Index-Linked Notes due December 22, 2027, fully and unconditionally guaranteed by Morgan Stanley. The notes provide 160% upside participation in positive S&P 500 returns subject to a $1,204.00 maximum settlement per $1,000 face amount and a 15.00% buffer against declines. If the final index decline exceeds 15.00%, holders suffer a leveraged loss using a buffer rate of approximately 117.65%, potentially losing most or all principal. Trade Date is March 4, 2026, Original Issue Date March 9, 2026, Initial Underlier Level 6,869.50. Payments at maturity are subject to the issuer’s credit and determination by the calculation agent.
Morgan Stanley Finance LLC prices Structured Jump Notes with an auto-callable feature linked to the worst-performing share of Microsoft, Palantir Class A and UnitedHealth. Each note has a $1,000 stated principal amount and a 100% participation rate. The notes pay no interest, may be automatically redeemed if each underlier meets its call threshold on the first determination date, and mature on March 9, 2029. The first determination date for automatic early redemption is March 15, 2027, with an early redemption payment of $1,167.50 per note if the call condition is met. The estimated value on the pricing date was $962.00 per note. All payments are unsecured and subject to Morgan Stanley and MSFL credit risk.
Morgan Stanley Finance LLC offers Digital VanEck® Gold Miners ETF‑Linked Notes (fully and unconditionally guaranteed by Morgan Stanley) through a preliminary pricing supplement dated March 6, 2026, subject to completion. Each note has a $1,000 Face Amount; the expected estimated value on the trade date is approximately $976.50 per note.
Payment at maturity depends on the VanEck® Gold Miners ETF (GDX) performance over the term (determination date expected 13–15 months after the trade date). If the final underlier level is ≥90% of the initial level, holders receive a capped Maximum Settlement Amount expected between $1,256.30 and $1,300.70 per $1,000 face amount. If the final underlier level is <90%, holders suffer losses and could lose their entire investment. All payments are subject to issuer credit risk; the notes are unsecured, non‑interest paying, non‑redeemable and will not be listed.
Morgan Stanley Finance LLC issues $1,200,000 aggregate Capped Leveraged Equity-Linked Notes due April 7, 2027, linked to the common stock of Amazon.com, Inc. Each $1,000 Face Amount note has a 200% upside participation rate, a Cap Level of $260.40082 (120.10% of the Initial Underlier Level) and a Maximum Settlement Amount of $1,402 per $1,000. The Initial Underlier Level is $216.82 (trade date March 4, 2026); the Determination Date is April 5, 2027 and the Stated Maturity Date is April 7, 2027. The estimated value on the trade date is $978.60 per note; price to public is $1,000 per note with agent commissions of $11.10 and proceeds to issuer of $988.90 per note. The notes do not pay interest, are unsecured obligations of MSFL, are fully guaranteed by Morgan Stanley and are subject to the issuer’s credit risk.
Morgan Stanley Finance LLC is offering Structured Investments — contingent income auto-callable notes due March 18, 2031 linked to the worst performing of Apple, Micron and Vertiv. The notes have a $1,000 stated principal amount per note and an estimated value on the pricing date of approximately $943.30 per note.
The notes pay a 9.05% annual contingent coupon on each coupon payment date only if the closing level of each underlier is ≥ its coupon barrier (set at 75% of initial level) on the related observation date. They are automatically redeemed early if each underlier's closing level is ≥ its call threshold (100% of initial level) on a redemption determination date, beginning with the first determination date on March 15, 2027. All payments are subject to Morgan Stanley's credit risk; investors do not participate in any appreciation of the underliers.
Morgan Stanley Finance LLC is offering Principal at Risk structured notes due March 18, 2031 linked to the S&P 500® Futures Excess Return Index. Each security has a $1,000 stated principal amount and an estimated value at pricing of approximately $969.00 per security.
At maturity the payout depends on the index closing level on the observation date March 13, 2031: if the final level is at or above the initial level investors receive principal plus the greater of index-based appreciation or an $512.50 upside payment (51.25%). If the index falls but stays at or above a downside threshold (65% of the initial level), investors receive principal plus a positive return equal to the absolute decline (100% participation) capped effectively at 35%. If the index is below the downside threshold, investors lose capital proportionally (1% loss for each 1% index decline) and could lose their entire investment.
Morgan Stanley Finance LLC is offering $1,880,000 of Digital S&P 500® Index-Linked Notes due February 16, 2028. The notes pay no interest and are fully guaranteed by Morgan Stanley. For each $1,000 face amount, the Maximum Settlement Amount is $1,161.90 (116.19%). If the S&P 500® Final Underlier Level on the February 14, 2028 Determination Date is at least 85% of the Initial Underlier Level (6,869.50 on the Trade Date), you receive the capped payment. If the Final Underlier Level declines below 85%, the cash payment is reduced per the stated formula and you could lose some or all of your investment. The estimated value on the trade date was $993.50 per note; all payments are subject to issuer credit risk.
Morgan Stanley Finance LLC offers structured, principal-at-risk notes—"Jump Securities"—linked to the worst performing of the S&P 500, Nasdaq-100 and Russell 2000. Each security has a $1,000 stated principal amount and an original issue price of $1,000; estimated value on the pricing date is approximately $958.40.
The securities mature on March 22, 2029 and feature automatic early redemption beginning with the first determination date on March 24, 2027. Call threshold levels equal 100% of initial levels; downside thresholds equal 70%. Early redemption payments correspond to a return of approximately 12.85% per annum on scheduled early redemption dates. At maturity investors can receive (i) $1,385.50 if each underlier ≥ call threshold, (ii) the stated principal if all underliers ≥ downside threshold but some < call threshold, or (iii) a principal loss proportionate to the decline of the worst performing underlier if any underlier < downside threshold.
Morgan Stanley Finance LLC issues a preliminary pricing supplement for contingent income memory buffered auto-callable securities due March 18, 2031. Each security has a stated principal amount of $1,000 and a contingent coupon at an annual rate of 11.50%, payable only when the underlier meets the coupon barrier on observation dates.
The securities reference the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index with a coupon barrier of 80% of the initial level, a buffer level of 85% (buffer amount 15%), a call threshold equal to 100% of the initial level, and a minimum payment at maturity of 15% of principal. The estimated value on the pricing date was approximately $905.40 per security.
Morgan Stanley Finance LLC offers Structured Investments Jump Notes with an automatic early‑call feature and a $1,524,000 aggregate principal amount. The notes are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley, issued at $1,000 per note with an estimated value on the pricing date of $974.30.
The notes reference the worst performing of GOOGL, AVGO and META, have a March 9, 2026 original issue date, mature on March 7, 2031, and may be automatically redeemed on March 16, 2027 for an early redemption payment of $1,215 if each underlier meets 90% call thresholds on the first determination date (March 11, 2027). Payments at maturity depend on the worst performing underlier and are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC offers $10,317,000 aggregate principal of Trigger PLUS principal‑at‑risk securities due March 7, 2031, fully and unconditionally guaranteed by Morgan Stanley.
The notes are linked to the worst performing of the Russell 1000® and S&P 500® indices, pay no interest, return principal at maturity only if the worst performing underlier finishes at or above its 75% downside threshold, provide a leveraged upside equal to 118.32% of appreciation of the worst performing underlier, and otherwise expose investors to a pro rata loss of principal (1% loss for each 1% decline in the worst performing underlier). The issue price is $1,000 per security and the estimated value on pricing date was $980.20 per security.
Morgan Stanley Finance LLC priced a structured, principal‑at‑risk note program totaling $585,000 aggregate. The securities are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley, issue price $1,000 per security and estimated value $895.50 on pricing date.
The notes pay a contingent coupon at an annual rate of 8.00% on each coupon payment date only if the underlier meets the coupon barrier; they feature automatic early redemption if the underlier is at or above the call threshold and mature on March 7, 2031 with principal at risk. Coupon barrier and downside threshold are 1,354.38 (50% of the initial level); call threshold is 2,248.271 (~83% of initial). Investors may lose all or a substantial portion of principal.
Morgan Stanley Finance LLC priced contingent income auto-callable securities linked to NVIDIA Corporation common stock. The securities: stated principal $1,000 each, aggregate $1,626,000, issue price $1,000, estimated value $957.50. They mature on March 8, 2029 with a final observation date of March 5, 2029.
The notes pay a contingent coupon at an annual rate of 12.65% only if the closing level on each observation date is at or above the coupon barrier of $109.824 (60% of the initial level). They are automatically redeemed if NVIDIA’s closing level equals or exceeds the call threshold of $183.04 (100% of the initial level) on a redemption determination date. If not auto-redeemed, maturity payment depends on the final level versus the downside threshold of $91.52 (50% of the initial level), and losses can equal the full decline in the underlier.
Morgan Stanley Finance LLC issues Principal-at-Risk notes — contingent income auto-callable securities due March 7, 2031, fully and unconditionally guaranteed by Morgan Stanley. The offering comprises $668,000 aggregate principal at $1,000 per security with an estimated value of $936.90 on the pricing date.
The securities pay a contingent annual coupon of 8.40% on each coupon date only if both underliers meet coupon barrier levels; automatic early redemption may occur beginning on March 4, 2027. If not called, principal repayment at maturity depends on the worst-performing underlier (Nasdaq-100® Technology Sector and Russell 2000®), with a downside threshold at ~75% of each initial level, exposing investors to potential full loss of principal.
Morgan Stanley Finance LLC issues a March 2026 preliminary pricing supplement for market‑linked, auto‑callable principal‑at‑risk securities guaranteed by Morgan Stanley. The securities have a public offering price of $1,000 per security, agent commissions of $25.75 per security and estimated value on the pricing date of $902.70. The securities are linked to the lowest performing of Broadcom, Alphabet (Class A) and Netflix, include an automatic call feature with a $1,500 call payment, a participation rate of at least 400% (to be set on the pricing date), and a maturity date of March 16, 2029 (subject to postponement).
Morgan Stanley Finance LLC is offering Principal at Risk Securities (PLUS) due March 22, 2030, fully and unconditionally guaranteed by Morgan Stanley. Each note has a $1,000 stated principal amount and an issue price of $1,000. The payoff is linked to the worst performing of the Invesco S&P 500® Equal Weight ETF (RSP) and the Nasdaq-100 Index® (NDX) measured from the strike date March 19, 2026 to the observation date March 19, 2030. If the worst performing underlier finishes above its initial level, investors receive the stated principal plus a 200% leverage of that appreciation, capped at a maximum payment of $1,957.50 per security (195.75% of principal). If either underlier is at or below its initial level at observation, the payment equals the stated principal multiplied by the worst performing underlier’s performance factor, and investors may lose up to their entire principal. The estimated value on the pricing date is approximately $978.20 per security.
Morgan Stanley Finance LLC is offering contingent income, auto-callable principal‑at‑risk notes linked to NVIDIA Corporation common stock, fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000, a contingent coupon at an annual rate of 15.25%, a maturity date of April 23, 2027, and a final observation date of April 20, 2027. The notes pay the contingent coupon only if the closing level of NVIDIA is at or above the coupon barrier (57% of the initial level) on each observation date, and are automatically redeemed early if NVIDIA’s closing level meets or exceeds the call threshold (100% of the initial level) on any redemption determination date. At maturity, if the final level is below the downside threshold (58% of the initial level), investors suffer principal losses pro rata to the decline in the underlier; if the final level is at or above that threshold, investors receive the stated principal. All payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is offering auto-callable, principal-at-risk structured notes linked to the worst performing of Broadcom Inc. (AVGO) and Meta Platforms, Inc. (META). Each security has a stated principal amount of $1,000, an original issue date of March 20, 2026 and a maturity date of March 22, 2029.
The notes may be automatically redeemed on scheduled determination dates, with early redemption payments of $1,300 on March 23, 2027 and $1,600 on March 22, 2028 if both underliers meet call thresholds. If not called, maturity payments range from $1,900 (if both meet call thresholds) to an amount that reflects the performance factor of the worst performing underlier, with downside thresholds at 50% of initial levels. The document states an estimated value on the pricing date of approximately $936.20 per security and notes that all payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is offering structured, principal-at-risk notes due March 22, 2029 linked to the worst performing of UnitedHealth (UNH), Eli Lilly (LLY) and Johnson & Johnson (JNJ). Each security has a $1,000 stated principal amount and an issue price of $1,000. The estimated value on the pricing date is approximately $928.70. The notes feature an automatic early redemption on March 23, 2027 if each underlier meets its call threshold, payable $1,720 per security on that date. If not redeemed, maturity payments depend on the worst performing underlier: investors may receive the principal plus an upside payment (participation rate 300%) if all final levels exceed initial levels, receive only principal if final levels stay above downside thresholds (50% of initial levels), or suffer losses proportional to the decline of the worst performing underlier (potentially losing the entire principal).
Morgan Stanley Finance LLC is offering Structured Investments—Principal at Risk securities (Buffered Jump Securities with an Auto-Callable feature) linked to the S&P 500® Index.
Each security has a $1,000 stated principal amount, an estimated value on the pricing date of approximately $957.50, a 10% buffer level (90% of the initial level), a minimum payment at maturity of 10% of principal, and a final maturity date of March 21, 2031. Automatic early redemption may occur on set determination dates beginning March 25, 2027, with fixed early redemption payments equivalent to approximately 6.80% per annum (example payments: $1,068; $1,136; $1,204; $1,272). The securities do not pay interest and are subject to Morgan Stanley's credit risk and other risks described herein.
Morgan Stanley Finance LLC is offering structured, principal‑at‑risk, auto‑callable securities 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 $916.50. The securities reference the S&P® 500 Futures 40% Intraday 4% Decrement VT Index, include a 4.0% per annum daily decrement and a downside threshold equal to 60% of the initial level. Automatic early redemption can occur on scheduled determination dates beginning on April 7, 2027 with specified early redemption payments that escalate to $2,187.50 per security by the last scheduled early redemption; if not called, the payment at maturity may be $2,250.00, the stated principal amount, or an amount reduced pro rata if the final level is below the downside threshold. All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC issues a preliminary pricing supplement for principal-at-risk callable contingent income securities due March 15, 2029. Each security has a $1,000 stated principal, a contingent annual coupon of 12.50%, and is linked to the worst performing of the Dow Jones Industrial, Nasdaq-100® Technology Sector, and Russell 2000®. Coupons pay only if each underlier is at or above a 70% coupon barrier on observation dates. If not redeemed earlier, maturity pays full principal only if each underlier is at or above a 70% downside threshold; otherwise repayment equals principal multiplied by the worst-performing underlier’s performance factor, potentially resulting in a total loss of principal. The securities are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley and are subject to issuer credit risk, early redemption determined by a risk-neutral valuation model, limited secondary-market liquidity, and complex U.S. tax treatment.
Morgan Stanley Finance LLC is offering Buffered PLUS principal-at-risk securities due September 23, 2027, fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and pays no interest. The securities return is tied to the worst performing of the Russell 2000® and S&P 500® indices, with a leverage factor of 113%, a buffer amount of 15% (buffer level = 85% of initial), and a minimum payment at maturity of 15% of principal. If the worst performing underlier finishes above its initial level, investors receive principal plus 113% of that appreciation; if the worst performing underlier finishes below the buffer level, investors incur proportional losses (1% loss for each 1% decline beyond the buffer). The document shows an estimated value on the pricing date of approximately $984.40 per security and discloses that all payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering structured, principal-at-risk notes due March 13, 2031, fully guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000, a contingent annual coupon of 9.00%, and a final observation date of March 10, 2031.
The notes pay contingent coupons only if the closing level of each underlier (the Dow Jones Industrial Average, Russell 2000®, and S&P 500®) meets or exceeds coupon barrier levels on observation dates, and they feature an automatic early redemption schedule beginning on September 14, 2027. At maturity, a 10% buffer applies; if the worst-performing underlier falls below its buffer, principal is reduced by 1.1111% for each 1% decline beyond the buffer. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC prices auto-callable, principal-at-risk notes linked to the Dow Jones Industrial Average with a $1,000 stated principal amount per security. The notes feature automatic early redemption on specified determination dates, a call threshold equal to the initial level (47,954.74), and a downside threshold at 80% of the initial level (38,363.792).
If redeemed on an early redemption date investors receive fixed early redemption payments of $1,030.80, $1,061.60 or $1,092.40 depending on the determination date; if held to maturity the payment is $1,123.20 if the final level is at or above the call threshold, the stated principal ($1,000) if the final level is between the downside and call thresholds, and the stated principal multiplied by the performance factor if below the downside threshold (losses of 1% per 1% index decline).
The estimated value on the pricing date was approximately $984.90 per security; the issue price is $1,000 with agent commissions of $10, leaving proceeds to issuer of $990 per security. All payments are subject to the credit risk of Morgan Stanley and the guarantee terms described herein.
Morgan Stanley Finance LLC prices Structured Investments Buffered PLUS linked to the S&P 500® Index. Each security has a $1,000 stated principal amount and offers a 109% leverage factor on upside gains, subject to a maximum payment of $1,102.50 (110.25%). The securities provide a 20% buffer against losses and a minimum payment at maturity of 20% of principal; if losses exceed the buffer, investors lose 1% for each 1% decline beyond the buffer. Observation date is April 13, 2027 with maturity on April 16, 2027. All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley, and are subject to issuer credit risk and tax characterization uncertainties.
Morgan Stanley Finance LLC priced a structured, principal‑at‑risk note 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 $945.10. The notes are auto‑callable beginning on March 9, 2027 if the closing level of each underlier is at or above its call threshold (each call threshold equals the initial level). If not called, maturity is March 8, 2030 with a $1,504 payoff if all underliers meet call thresholds, return of principal if all end at or above 70% of initial levels, or a loss equal to the percentage decline of the worst performing underlier if it finishes below the 70% downside threshold. Underliers: S&P 500 (SPX), Nasdaq‑100 Technology Sector (NDXT), Russell 2000 (RTY). All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC is offering structured, principal‑at‑risk notes linked to the S&P 500® Index, fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and an issue price of $1,000. The securities feature an automatic early redemption on the first determination date of March 18, 2027 if the closing level of the underlier is at or above the call threshold (initial level 6,830.71), with an early redemption payment of $1,119.70 per security. If not redeemed early, maturity is on March 9, 2028, with a participation rate of 150% for upside scenarios and a downside threshold of 5,806.104 (approximately 85% of the initial level); investors may lose up to their entire principal. All payments are subject to the issuer’s credit risk.
Morgan Stanley Finance LLC offers Partial Principal at Risk Notes tied to the SPDR® Gold Trust, fully and unconditionally guaranteed by Morgan Stanley. Each note has a $1,000 stated principal amount, a 95% partial principal return amount, a 100% participation rate, and a $1,170.50 maximum payment at maturity. The initial level of the underlier (strike) was $466.13 on March 5, 2026. The pricing date is March 6, 2026, original issue date March 12, 2026, observation date September 7, 2027, and maturity date September 14, 2027. Notes pay no interest; downside reduces principal dollar-for-dollar with the underlier decline, subject to the stated partial principal return amount. All payments are subject to issuer credit risk.
Morgan Stanley Finance LLC is offering Principal at Risk auto-callable securities tied to United Parcel Service, Inc. class B common stock with an aggregate principal amount of $850,000 and a stated principal amount of $1,000 per security. The securities mature on March 8, 2028 and may be automatically redeemed on scheduled early redemption dates if the closing level of the underlier is greater than or equal to the call threshold level.
The contingent coupon is an annual rate of 11.75%, payable only when the underlier’s closing level on an observation date is at or above the coupon barrier level ($79.261, 70% of the initial level). The initial level and call threshold are $113.23; the downside threshold equals the coupon barrier ($79.261). If not automatically redeemed and the final level is below the downside threshold, the payment at maturity equals the stated principal multiplied by the performance factor, and could be significantly less than principal or zero. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC is offering Structured Investments — Buffered Jump Securities with an Auto-Callable feature due March 14, 2031, fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an estimated value on the pricing date of approximately $904.60.
The notes reference the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. Automatic early redemption can occur on scheduled determination dates for early redemption payments corresponding to a return of approximately 10.00% per annum. If not called, maturity payoff is $1,500.00 if the final level is at or above the buffer level (85% of the initial level); if below, investors absorb losses 1% for each 1% decline beyond the 15% buffer, subject to a minimum payment at maturity of 15% of the stated principal.
Morgan Stanley Finance LLC is offering principal‑at‑risk, auto‑callable notes due March 23, 2029. The securities reference the worst performing of Microsoft, Alphabet Class A and NVIDIA common stock and are fully and unconditionally guaranteed by Morgan Stanley.
The notes pay no interest, have a 300% upside participation rate, a downside threshold at 60% of each initial level, an early redemption feature with an early redemption payment of $1,510 per security on the first determination date, and a stated principal amount of $1,000 per security. All payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is offering Principal at Risk notes linked to the worst performing of the Nasdaq-100 and S&P 500, maturing September 16, 2027. Each security has a stated principal amount of $1,000 and an estimated value on the pricing date of approximately $976.50.
The payout is driven solely by the worst performing underlier: investors can receive up to a $1,186 maximum upside (118.60% of principal) or, if the worst underlier declines but stays ≥ its 85% buffer level, up to a 15% positive return; declines beyond the 15% buffer produce a 1:1 loss of principal subject to a 15 minimum payment at maturity.
Morgan Stanley Finance LLC is offering principal-at-risk contingent income auto-callable securities, fully and unconditionally guaranteed by Morgan Stanley, with an aggregate principal amount of $630,000 and a stated principal amount of $1,000 per security. The securities pay a contingent coupon at an annual rate of 8.00% only if the underlier meets scheduled observation-date barriers and may be automatically redeemed early if the underlier meets the call threshold on a redemption determination date. If not redeemed, maturity payoff returns the stated principal only if the final level is at or above the downside threshold (55% of the initial level); otherwise payment at maturity equals the stated principal multiplied by final level/initial level, exposing investors to full downside and possible total loss.
Key economic terms: issue price $1,000 per security, estimated value on pricing date $902.10 per security, proceeds to issuer $604,800, agent commission $25,200. Observations, coupons, early redemption dates and the final observation date are specified in the document.
Morgan Stanley Finance LLC priced a contingent income auto-callable securities offering totaling $3,500,000. The notes are linked to the worst performing of Chevron common stock and Exxon Mobil common stock, pay a contingent coupon at an annual rate of 12.60% when both underliers meet coupon barriers, and mature on March 8, 2029.
The securities have a stated principal amount of $1,000 per security, an estimated value on the pricing date of $949.00 per security, and an original issue price of $1,000 (agent commission $35, proceeds to issuer $965 per security). Investors face full principal risk if the worst performing underlier finishes below its downside threshold (approximately 75% of initial levels).
Morgan Stanley Finance LLC issues principal-at-risk structured notes with an aggregate principal amount of $1,115,000 (stated principal $1,000 per security), fully and unconditionally guaranteed by Morgan Stanley. The securities mature on April 8, 2027 and are linked to the S&P 500® Index.
The terms provide a fixed 9.43% upside payment ($94.30) if the final level is at or above the downside threshold (80% of the initial level), and otherwise pay the stated principal multiplied by final/initial level. The downside threshold is 5,453.304 (80% of the initial level 6,816.63), and investors may lose up to their entire principal.
Morgan Stanley Finance LLC priced structured, principal-at-risk notes backed by Morgan Stanley guarantee. The offering totals $688,000 aggregate principal in $1,000 denominations at an issue price of $1,000 per security and an estimated value of $903.60 on the pricing date. The notes reference the SPDR® Gold Trust and VanEck® Semiconductor ETF, mature on March 7, 2031, and include an automatic early redemption feature with a first determination date of March 11, 2027 and an early redemption payment of $1,431.50. The payoff is based on the worst performing underlier, a 150% participation rate in upside, a 50% downside threshold, and full credit exposure to Morgan Stanley.
Morgan Stanley Finance LLC issued contingent income, principal-at-risk notes due March 19, 2027 that are fully guaranteed by Morgan Stanley. The securities pay a contingent coupon at an annual rate of 10.64% on each coupon date only if the S&P 500 closing level on the related observation date is at or above the coupon barrier (approximately 85% of the initial level). The notes are auto-callable on specified redemption determination dates if the index is at or above the call threshold (the initial level). At maturity, if the final level is below the downside threshold (approximately 85% of the initial level), principal is reduced pro rata (performance factor = final level / initial level). Issue price is $1,000 with estimated value on the pricing date of $984.90; commissions equal $10 per $1,000. All payments are subject to the issuer and guarantor credit risk.
Morgan Stanley Finance LLC priced a contingent‑income, principal‑at‑risk auto‑callable note program fully guaranteed by Morgan Stanley. The securities are issued at a $1,000 stated principal amount per security with an aggregate principal amount of $1,505,000, an estimated value on the pricing date of $942.10, and an issue price of $1,000 per security. The notes pay a contingent coupon at an annual rate of 14.85% only if the underlier meets the coupon barrier on observation dates, are callable on specified dates beginning September 10, 2026, and mature on March 7, 2031. The underlier initial level is 2,708.76; the coupon barrier is 70% of that level (1,896.132) and the downside threshold is 60% (1,625.256). If not redeemed and the final level is below the downside threshold, investors lose principal pro rata; if final level is at or above the downside threshold, principal is returned.
Morgan Stanley Finance LLC amends the pricing supplement for a $13,113,000 issuance of Structured Investments Variable Income Auto-Callable Notes due January 31, 2031, fully and unconditionally guaranteed by Morgan Stanley. The notes pay a variable monthly coupon of 9.00% (higher) or 0.25% (lower) depending on observation-date performance of four underlying stocks and are linked to the worst performing underlier (Broadcom, Meta Platforms class A, Tesla, Micron). The notes may be automatically redeemed on specified redemption determination dates if each underlier meets its 90% call threshold; otherwise investors receive principal at maturity. The document discloses estimated value ($940.40 per note), issue price ($1,000), agent commissions ($42.50 per note) and that all payments are subject to issuer credit risk.
Morgan Stanley Finance LLC priced a preliminary offering of market-linked, auto-callable, principal-at-risk securities due March 15, 2029, fully and unconditionally guaranteed by Morgan Stanley. Each security has a face amount of $1,000, a public price of $1,000, and estimated value of approximately $970.10 on the pricing date. The offering includes an agent commission of $18.25 per security (proceeds to issuer $981.75 per security). The securities carry contingent quarterly coupons (annualized contingent coupon rate set at not less than 10.25%) payable only if the lowest performing underlying meets daily coupon thresholds, and feature a 70% downside threshold (exposure to losses greater than 30% if breached). Terms and payment mechanics are subject to the pricing date determinations and the product and index supplements referenced herein.
Morgan Stanley Finance LLC amended a preliminary pricing supplement for contingent income memory auto-callable securities due July 9, 2027, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an original issue price of $1,000, with an estimated value on the pricing date of approximately $987.20.
The securities reference the EURO STOXX 50®, Russell 2000® and S&P 500® indices. A 15.00% per annum contingent coupon may pay on observation dates only if every underlier is at or above its coupon barrier (70% of initial level). The notes are automatically redeemed on November 12, 2026 if each underlier is at or above its call threshold (100% of initial level) as of the redemption determination date November 9, 2026. If not called, maturity payoff on July 9, 2027 returns principal only if each final level is at or above the downside threshold (70%); otherwise holders suffer losses proportional to the worst performing underlier.
Morgan Stanley Finance LLC offers Trigger PLUS securities due March 16, 2029, fully guaranteed by Morgan Stanley. Each $1,000 security provides leveraged upside (245%) if the worst performing of the EURO STOXX 50®, Russell 2000® and S&P 500® finishes above its strike level, principal repaid at maturity if the worst underlier is at or above 70% of its initial level, and pro rata loss equal to the full decline of the worst underlier below that 70% threshold. The securities pay no interest, carry issuer credit risk, have an estimated pricing‑date value of approximately $966.80, and are intended for fee‑based advisory accounts.
Morgan Stanley Finance LLC offers callable Contingent Income Securities due September 14, 2028. The securities are principal‑at‑risk notes, fully and unconditionally guaranteed by Morgan Stanley, linked to the VanEck® Junior Gold Miners ETF. They pay a contingent coupon at an annual rate of 21.40% only if the underlier’s closing level on each observation date is at or above the coupon barrier level (the coupon barrier is 70% of the initial level).
The notes may be redeemed early beginning on the first redemption date (September 16, 2026) if, on a model determination date, a risk neutral valuation model indicates early redemption is economically rational for the issuer. If not called and the final level is below the downside threshold (also 70% of initial level), the payment at maturity equals the stated principal amount multiplied by the performance factor (final/initial), exposing investors to full downside, potentially to zero.
Morgan Stanley Finance LLC issues $2,000,000 of auto-callable, principal-at-risk notes due March 18, 2027, fully and unconditionally guaranteed by Morgan Stanley. The notes have a $1,000 stated principal amount and an estimated value on the pricing date of $985.40 per security.
The notes reference the Dow Jones Industrial Average with an initial and call threshold level of 48,904.78 (initial level), a downside threshold of 39,123.824 (80% of initial), and automatic early redemption opportunities on specified determination dates beginning June 15, 2026. Early redemption payments and the payment at maturity are fixed per the terms; if the final level is below the downside threshold, payment at maturity equals the stated principal amount multiplied by the performance factor and could be significantly less or zero. All payments are subject to the issuer’s credit risk.
Morgan Stanley Finance LLC priced contingent income memory securities, aggregate principal $1,145,000, fully and unconditionally guaranteed by Morgan Stanley. The notes, $1,000 each, pay a contingent coupon at an annual rate of 9.30% on scheduled coupon dates only if all three underliers (EURO STOXX 50®, Nasdaq-100® Technology Sector, Russell 2000®) close at or above their coupon barrier (80% of initial level) on each observation date. At maturity on March 7, 2030, if each underlier is at or above its downside threshold (70% of initial level), investors receive principal; otherwise payment equals $1,000 times the worst performing underlier's performance factor and could be zero. Issue price $1,000; estimated value on pricing date $957.40. All payments subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC amends a preliminary pricing supplement for Principal-at-Risk structured notes due March 11, 2031, fully and unconditionally guaranteed by Morgan Stanley. The securities are issued at a $1,000 stated principal amount per security with an estimated value on the pricing date of approximately $935.80.
The notes reference the S&P® 500 Futures 40% Intraday 4% Decrement VT Index, include a 4.0% per annum decrement, and are auto-callable beginning on the first determination date, March 9, 2027. If auto‑redeemed on a determination date, the early redemption payment corresponds to a return of approximately 16.00% per annum. If not redeemed, maturity payoffs are $1,800 per security if the final level is at or above the downside threshold (60% of the initial level); otherwise the payment equals the stated principal multiplied by the performance factor (final/initial), exposing investors to full downside risk.
Morgan Stanley Finance LLC offers Structured Investments—Buffered Jump Securities with an Auto-Callable feature, fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and a participation rate of 100% in upside performance of the S&P 500® Futures Excess Return Index.
The securities have an initial issue price of $1,000, an estimated value on the pricing date of approximately $945.30, a strike/pricing date of March 26, 2026, an original issue date of March 31, 2026, a first determination date of April 5, 2027 (auto-call test), an early redemption payment of $1,137.50 if the call threshold (100% of the initial level) is met, and a maturity date of March 31, 2031. The securities include a 10% buffer (buffer level = 90% of initial) and a 10% minimum payment at maturity.
Morgan Stanley Finance LLC priced a preliminary offering of structured Principal-at-Risk notes due March 23, 2028 that are fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an issue price of $1,000.
The notes are linked to the MSCI Emerging Markets Index, have a 15% buffer (buffer level = 85% of the initial level), a downside factor of 1.1765, a 100% participation rate for upside, an automatic early‑redemption feature with first determination on March 31, 2027 (call threshold = 100% of the initial level) and maturity on March 23, 2028. The estimated value on the pricing date was approximately $973.50 per security and agent fees are up to $15 per $1,000 security.