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 (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering 2‑year callable contingent income securities linked to the worst performing of the S&P 500, Russell 2000 and Nasdaq‑100 indices, fully and unconditionally guaranteed by Morgan Stanley. Each note has a $1,000 stated principal amount and issue price, but principal is at risk.
The notes pay a contingent quarterly coupon at an annual rate of 11.10% (about $27.75 per quarter per $1,000) only if, on every index business day in the period, each index stays at or above 75% of its initial level (the coupon barrier). From September 3, 2027, the issuer may redeem the notes quarterly at par plus any due coupon, but only if a risk neutral valuation model indicates calling is economically rational for the issuer, not based directly on index performance.
If not redeemed and on the final observation date (August 31, 2028) each index is at or above 75% of its initial level (the downside threshold), holders receive par plus any final coupon. If any index is below its threshold, repayment is $1,000 multiplied by the index performance factor of the worst index, so investors can lose more than 25% and up to all of principal. The estimated value on the pricing date is approximately $969.40 per note, below the issue price due to selling, structuring and hedging costs. All payments are subject to Morgan Stanley’s and MSFL’s credit risk.
MORGAN STANLEY (MS), via Morgan Stanley Finance LLC, is offering principal-at-risk Callable Contingent Income Securities due September 6, 2028, linked to the worst performing of the Nasdaq-100® Technology Sector Index, the Russell 2000® Index and the S&P 500® Index and fully guaranteed by Morgan Stanley.
The notes have a $1,000 stated principal amount and pay a 9.00% per annum contingent coupon only if on each observation date all three indices close at or above their coupon barrier levels, set at 70% of their initial levels. If any index is below its barrier on an observation date, no coupon is paid for that period.
Beginning March 3, 2027, the issuer may redeem the notes on specified monthly redemption dates at par plus any due coupon, but only if a risk neutral valuation model indicates early redemption is economically rational for Morgan Stanley. If not redeemed, at maturity investors receive par plus any final coupon if every index is at or above its downside threshold level, set at 65% of its initial level; otherwise the payoff equals $1,000 multiplied by the worst index’s performance factor, exposing investors to a 1% loss of principal for each 1% decline, down to zero. All payments depend on Morgan Stanley’s credit and the estimated value on the pricing date is approximately $960 per $1,000 note.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering $10,716,000 of Digital S&P 500® Index-Linked Notes due February 16, 2028 under its global medium-term note program. The notes are unsecured, principal-at-risk instruments fully and unconditionally guaranteed by Morgan Stanley and pay no interest.
The payoff depends on the S&P 500® Index level on February 14, 2028 versus the initial level of 7,652.86. If the final level is at or above 87.50% of the initial level (the Threshold Level of 6,696.2525), investors receive a fixed Maximum Settlement Amount of $1,137 per $1,000 note (113.70% of face). If the index falls more than 12.50%, maturity payment is reduced linearly using a Buffer Rate of approximately 114.29%, and investors can lose up to their entire principal.
The notes are sold at $1,000 per note with no agent commissions; the issuer’s estimated value on the trade date is $997.90 per note, reflecting structuring and hedging costs and use of an internal funding rate. The notes are not listed on any exchange, have no redemption feature, and secondary market liquidity depends on Morgan Stanley & Co. LLC, which may but is not obligated to make a market. All payments are subject to Morgan Stanley’s and MSFL’s credit risk.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk “Jump Securities with Auto-Callable Feature” due September 5, 2031, linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. Each security has a stated principal amount and issue price of $1,000, with an estimated value on the pricing date of approximately $936.30 per security.
The notes may be automatically redeemed quarterly (after the first year) if the index closing level is at or above a call threshold set at 85% of the initial level, for fixed early redemption payments that imply about 19.50% per annum, ranging from $1,195.00 on the first determination date to $1,926.25 on the 16th. If held to maturity and the final index level is at or above the call threshold, investors receive $1,975.00 per security; if it is between the call threshold and a downside threshold of 60% of the initial level, they receive only the $1,000 principal; below the downside threshold, repayment is reduced 1% for each 1% decline in the index, potentially to zero.
The securities pay no interest, do not participate in any upside of the index beyond the fixed payouts, and are unsecured obligations of MSFL fully and unconditionally guaranteed by Morgan Stanley. All payments depend on Morgan Stanley’s credit, and the issuer highlights limited liquidity, potential secondary market discounts, complex tax treatment as prepaid financial contracts, and risks specific to the relatively new, volatility-targeted decrement index.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Jump Securities with an auto-call feature due September 5, 2031, linked to the S&P 500® Futures Excess Return Index. Each security has a $1,000 stated principal amount and issue price and is fully and unconditionally guaranteed by Morgan Stanley.
The note may be automatically redeemed on September 8, 2027 if the underlier’s closing level on September 3, 2027 is at least 107% of the initial level, paying an early redemption amount of $1,156 per security. If not called, at maturity investors receive $1,000 plus a 300% participation rate on any positive underlier return; $1,000 if the final level is between 75% and 100% of the initial level; or a loss of 1% of principal for each 1% decline in the underlier below 75% of the initial level, down to zero. The estimated value on the pricing date is about $973.90 per $1,000, reflecting issuance, structuring and hedging costs and Morgan Stanley’s funding rate. All payments depend on Morgan Stanley’s and MSFL’s credit.
Morgan Stanley (MS), via Morgan Stanley Finance LLC, is offering Buffered Performance Leveraged Upside Securities (Buffered PLUS) linked to the MSCI EAFE® Index, maturing on November 1, 2027. Each security has a stated principal amount and issue price of $1,000 and is fully and unconditionally guaranteed by Morgan Stanley.
At maturity, if the index is above its initial level, holders receive principal plus 300% of the index gain, capped at a maximum payment of $1,100 per security (110% of principal. If the index is at or below the initial level but at or above the buffer level of 90% of the initial level, investors receive only their principal. Below the buffer, investors lose 1% of principal for each 1% decline beyond the 10% buffer, but not less than a minimum payment of 10% of principal.
The securities pay no interest and expose investors to the credit risk of Morgan Stanley and MSFL, as well as market risk of the MSCI EAFE® Index. The estimated value on the pricing date is approximately $970.70 per security, reflecting structuring and hedging costs. The index strike and pricing date are August 27, 2026, with an observation date of October 27, 2027.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering Contingent Income Memory Auto-Callable Securities due August 31, 2029, linked to the worst performing of Upstart (UPST), Meta Platforms (META) and Carvana (CVNA). Each note has a $1,000 stated principal amount and is fully and unconditionally guaranteed by Morgan Stanley.
The notes pay a 23.30% per annum contingent coupon, but only if on each observation date all three stocks are at or above their coupon barrier levels, initially set at 60% of each stock’s initial level. Missed coupons may be paid later if a future observation date meets the barrier (“memory” feature).
The notes are automatically callable beginning August 30, 2027 if all underliers are at or above their call thresholds (100% of initial levels), returning principal plus due and unpaid coupons. If not called, at maturity investors receive principal only if all underliers are at or above their downside thresholds (60% of initial) or any underlier is at or above its initial level; otherwise, principal is reduced 1% for each 1% decline in the worst performer and can fall to zero. The estimated value on the pricing date is about $934.40 per $1,000, reflecting upfront structuring and hedging costs. All payments are subject to Morgan Stanley’s credit risk, secondary market liquidity may be limited, and U.S. tax treatment is uncertain, with potential 30% withholding on coupons for many non-U.S. holders.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Callable Contingent Income Securities due March 3, 2028, linked to the worst performing of the Nasdaq-100 Index, Russell 2000 Index and S&P 500 Index, and fully and unconditionally guaranteed by Morgan Stanley.
The notes pay a contingent coupon at 11.76% per annum, but only for periods where on the relevant observation date the closing level of each index is at or above its coupon barrier, set at 70% of its initial level for each index. If any index is below its barrier on an observation date, no coupon is paid for that period, and investors may receive few or no coupons over the term.
Beginning December 3, 2026, the notes are callable in whole on specified monthly redemption dates if a risk neutral valuation model indicates it is economically rational for Morgan Stanley to redeem. If called, investors receive the stated principal amount plus any coupon due for that period, and no further payments.
If not redeemed early and on the final observation date each index is at or above its downside threshold (also 70% of initial), investors receive principal back (plus any final coupon). If the final level of any index is below its downside threshold, repayment is reduced one-for-one with the decline of the worst performing index, and the maturity payment can be as low as zero. The estimated value on the pricing date is approximately $989.10 per $1,000 note, reflecting upfront costs and issuer economics. All payments are subject to the credit risk of MSFL and Morgan Stanley, and the U.S. tax treatment is described as uncertain, particularly for non-U.S. holders facing possible 30% withholding on coupons.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering fixed-income Buffered Auto-Callable Securities due September 5, 2031, linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. Each security has a $1,000 stated principal amount and pays a fixed coupon at an annual rate of 7.15%, with monthly coupon payments.
The notes are automatically redeemed at par plus the coupon if, on any of many scheduled redemption determination dates starting September 1, 2027, the index closing level is at or above 100% of its initial level. If not called, and on the September 2, 2031 observation date the index is at or above the 85% buffer level, investors receive principal plus the final coupon. If the final index level is below the buffer, principal is reduced 1% for every 1% decline beyond the 15% buffer, but not below a 15% minimum payment of principal.
The issue price is $1,000 per security, while the estimated value on the pricing date is approximately $917.10, reflecting issuer costs and structuring. These unsecured notes are fully and unconditionally guaranteed by Morgan Stanley, expose investors to the issuer’s credit risk, do not offer participation in index upside, and are not insured deposits.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering Structured Investments called Buffered PLUS, unsecured notes fully and unconditionally guaranteed by Morgan Stanley, due September 3, 2031. The notes are linked to the worst performer of the Russell 2000® Index and the State Street® SPDR® S&P MidCap 400® ETF Trust and pay no periodic interest.
Each security has a $1,000 stated principal amount and offers 121% leveraged upside on the appreciation of the worst performing underlier if both finish above their initial levels. Principal is protected only by a 25% buffer: if the worst performing underlier ends between 75% and 100% of its initial level, investors receive par; below the 75% buffer level, investors lose 1% of principal for each 1% decline beyond the buffer, subject to a minimum payment of 25% of principal. All payments depend on Morgan Stanley’s credit, and the estimated value on the pricing date is approximately $992.50 per security.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering Buffered PLUS structured notes due September 2, 2031, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and pays no interest; all payments depend on Morgan Stanley’s credit.
The notes are linked to a basket consisting of the iShares MSCI Emerging Markets ETF (30%), the Nikkei Stock Average (40%) and the EURO STOXX 50 Index (30%), with an initial basket level of 100. At maturity, if the final basket level is above 100, investors receive principal plus a leveraged upside return equal to 118% of the basket’s positive performance. If the final level is between the 80 buffer level and 100, investors receive only principal. Below the buffer, investors lose 1% of principal for each 1% decline beyond the 20% buffer, subject to a minimum payment of 20% of principal.
The estimated value on the pricing date is approximately $952.20 per $1,000 note, reflecting issuance, selling, structuring and hedging costs. The notes may have limited or no secondary market liquidity, their market value can be significantly below issue price, and U.S. federal tax treatment is uncertain, including potential application of the “constructive ownership” regime and Section 871(m) for certain non-U.S. holders.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Callable Contingent Income Securities due March 9, 2028, linked to the worst performer of the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index, fully and unconditionally guaranteed by Morgan Stanley.
The notes pay a 12.50% per annum contingent coupon, but only for periods when each index closes at or above its 70% coupon barrier on the relevant observation date; otherwise no coupon is paid. Starting December 9, 2026, the issuer may redeem the notes early on specified dates if a risk neutral valuation model indicates redemption is economically rational for Morgan Stanley.
If not redeemed and each index’s final level is at or above its 70% downside threshold, investors receive principal back plus any final contingent coupon. If any index finishes below its downside threshold, the payoff is reduced in full proportion to the worst-performing index and can fall to zero. The estimated value on the pricing date is approximately $982.60 per $1,000, reflecting embedded costs and issuer credit spreads. All payments are subject to Morgan Stanley’s credit risk.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Callable Contingent Income Securities due March 8, 2029, linked to the worst performing of the Nasdaq-100 Technology Sector Index, Russell 2000 Index and S&P 500 Index, fully and unconditionally guaranteed by Morgan Stanley.
The notes pay a 10.00% per annum contingent coupon only if on each observation date all three indices are at or above their coupon barrier levels, set at 60% of their initial levels. The issuer may redeem the notes in whole on specified redemption dates if a risk neutral valuation model indicates early redemption is economically rational for Morgan Stanley; once redeemed, no further payments occur.
If not redeemed and on the final observation date each index is at or above its downside threshold level (also 60% of its initial level), investors receive principal plus any final contingent coupon. If any index is below its downside threshold, repayment is reduced 1% for every 1% decline of the worst-performing index, down to a possible zero payment. The estimated value on the pricing date is approximately $980.50 per $1,000, reflecting issuance, structuring and hedging costs, and all payments are subject to Morgan Stanley’s credit risk.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk “Jump Securities with Auto-Callable Feature” due September 6, 2029, linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. Each note has a $1,000 stated principal amount and issue price, but no interest payments.
The notes may be automatically redeemed on any of eight determination dates from September 1, 2027 to May 31, 2029 if the index is at or above a call threshold equal to 90% of the initial level, paying early redemption amounts that imply about 20.75% per annum, starting at $1,207.50 per note and rising to $1,570.625. If not called, at maturity investors receive $1,622.50 per note if the final index level is at or above the call threshold; the principal back if the index is between the call threshold and a 75% downside threshold; and otherwise an amount equal to principal multiplied by the index performance factor, exposing them to full downside, potentially to zero.
The underlier is a volatility-targeted, decrement index established March 14, 2022, and the estimated value on the pricing date is about $908.60 per note, below the issue price due to embedded costs. All payments are unsecured and subject to the credit risk of Morgan Stanley Finance LLC, fully and unconditionally guaranteed by Morgan Stanley.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Contingent Income Memory Auto-Callable Securities due September 5, 2031, linked to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index and fully and unconditionally guaranteed by Morgan Stanley.
Each note has a stated principal of $1,000 and an estimated value on the pricing date of about $911.70, reflecting issuance, structuring and hedging costs borne by investors. The notes pay an 8.00% per annum contingent coupon only if, on an observation date, the index is at or above a coupon barrier set at 55% of the initial level; missed coupons can be paid later if the barrier is met.
The notes are automatically called if, on any quarterly redemption determination date from June 1, 2027, the index is at or above a call threshold of 80% of the initial level, returning principal plus due and unpaid coupons. If held to maturity without early redemption, investors receive principal back only if the final index level is at or above the same 55% downside threshold; otherwise the payoff is fully exposed to index loss on a 1-for-1 basis, potentially resulting in a total loss. The underlier is a relatively new, volatility-targeted, futures-based index with a 4% per annum decrement, and all payments depend on Morgan Stanley’s credit.
MORGAN STANLEY (MS), via Morgan Stanley Finance LLC, is offering Buffered PLUS, principal-at-risk structured notes due October 7, 2027, linked to the worst performer of the Dow Jones Industrial Average and the S&P 500 Index. Each security has a $1,000 stated principal amount, pays no interest, and is fully and unconditionally guaranteed by Morgan Stanley.
At maturity, if the worst performing index is above its initial level, holders receive principal plus 150% of its gain, capped at a maximum payment of $1,195 (119.50% of principal). If the worst performer is between 90% and 100% of its initial level, investors receive only principal. Below 90%, investors lose 1% of principal for each 1% additional decline, but not less than 10% of principal back.
The notes are unsecured obligations subject to Morgan Stanley’s credit risk and limited liquidity, with an estimated value on the pricing date of approximately $989.90 per security, below the $1,000 issue price due to embedded issuing, selling, structuring and hedging costs. U.S. federal tax treatment is uncertain and may be affected by future IRS or legislative actions.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Callable Contingent Income Securities due March 6, 2028, linked to the worst performing of the Nasdaq‑100 Index®, the Russell 2000® Index and the S&P 500® Index and fully guaranteed by Morgan Stanley.
The notes pay a 9.00% per annum contingent coupon only if on each observation date all three indices are at or above their respective coupon barrier levels, set at 70% of initial levels; otherwise no coupon is paid for that period. Beginning December 4, 2026, the issuer may redeem the notes in whole on specified redemption dates, but only if a specified risk neutral valuation model indicates early redemption is economically rational for Morgan Stanley.
If not redeemed and on the final observation date each index is at or above its downside threshold level (also 70% of initial), investors receive principal plus any final coupon; if any index is below its threshold, the maturity payment is reduced 1% for each 1% decline of the worst performing index, and can fall to zero. The original issue price is $1,000 per security, while the estimated value on the pricing date is approximately $971, reflecting issuance, structuring and hedging costs and issuer credit spreads. The issuer describes U.S. tax treatment as a prepaid financial contract with associated coupons, but notes material tax uncertainty and potential 30% withholding on coupons for many non‑U.S. investors.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering Airbag In-Digital Securities linked to the S&P 500 Index maturing on March 2, 2028. Each security has a $10 principal amount and an estimated initial value of about $9.931, reflecting issuance, structuring and hedging costs borne by investors.
If the S&P 500 Final Level is at or above 90% of the Initial Level, holders receive full principal plus a fixed Digital Return between 14.10% and 14.62%, regardless of how much the index has risen. If the Final Level is below 90%, repayment is reduced using a downside formula with 1.111x downside gearing, causing a loss of 1.111% of principal for each 1% the index falls beyond a 10% decline, up to total loss. The notes pay no interest or dividends, have approximately an 18‑month term, are unsecured obligations of MSFL fully and unconditionally guaranteed by Morgan Stanley, and expose investors to both market risk of the S&P 500 and the issuers’ credit risk, with limited or no expected secondary market liquidity.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering Airbag In-Digital Securities linked to the S&P 500® Index, maturing on September 30, 2027 and fully and unconditionally guaranteed by Morgan Stanley. Each Security has a $10 principal amount and a term of approximately 13 months from the August 31, 2026 settlement date.
If the Final Underlying Level on the September 27, 2027 Final Valuation Date is at or above the Digital Barrier, which equals the Downside Threshold of 90% of the Initial Underlying Level, investors receive repayment of principal plus a fixed Digital Return between 10.00% and 10.50%, regardless of any higher S&P 500® performance. If the Final Underlying Level is below the Downside Threshold, the maturity payment is reduced according to $10 + [$10 × (Underlying Return + 10%) × Downside Gearing 1.111], causing a loss of 1.111% of principal for every 1% the index falls beyond the 10% Threshold Percentage, up to a total loss.
The Securities pay no interest or dividends and are subject to the credit risk of Morgan Stanley and MSFL. The estimated value on the Trade Date is approximately $9.935 per $10 Security, reflecting issuance, structuring and hedging costs. Liquidity may be limited, and any secondary market price is expected to be below the issue price.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Contingent Income Memory Auto-Callable Securities due August 27, 2031, linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index and fully and unconditionally guaranteed by Morgan Stanley.
Each $1,000 note pays a 12.50% per annum contingent coupon, but only if on an observation date the index is at or above the coupon barrier level of 789.336 (60% of the initial level of 1,315.56). Missed coupons can be “remembered” and paid later if a future observation meets the barrier, but may never be paid.
The notes are automatically redeemed on scheduled dates if the index closes at or above the call threshold of 1,315.56 (100% of the initial level), returning principal plus any due and unpaid coupons. If held to maturity and the final index level is at or above the downside threshold of 789.336, investors receive full principal plus any payable coupons; if below, repayment is reduced in full proportion to the index decline, down to zero. The estimated value on the pricing date is approximately $920.50 per $1,000 note, reflecting issuance, structuring and hedging costs, and all payments are subject to Morgan Stanley’s credit risk.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering Trigger PLUS structured notes due August 29, 2031, linked to a basket of equity indices. The notes have a $1,000 stated principal amount, pay no interest and are fully and unconditionally guaranteed by Morgan Stanley, with principal at risk.
The underlier is a basket set to an initial level of 100, composed of MSCI EAFE Index (25%), MSCI Emerging Markets Index (10%) and S&P 500 Futures Excess Return Index (65%). At maturity, if the final basket level is above 100, holders receive $1,000 plus a leveraged upside payment equal to 193.00% of the positive return. If the final level is between 80 and 100 inclusive, investors receive only $1,000. If the final level is below 80 (80% of initial), repayment is $1,000 multiplied by the performance factor, causing a 1% loss of principal for each 1% decline, with no minimum and potential total loss.
The pricing and strike dates are August 26, 2026, the observation date is August 26, 2031, and the original issue date is September 1, 2026. The estimated value on the pricing date is approximately $972.80 per security, reflecting issuance, selling, structuring and hedging costs and Morgan Stanley’s funding rate. The notes are unsecured obligations subject to the credit risk of Morgan Stanley Finance LLC and Morgan Stanley, and secondary market liquidity may be limited.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering Enhanced Buffered Jump Securities linked to the S&P 500® Index under its Series A Global Medium-Term Notes program, fully and unconditionally guaranteed by Morgan Stanley. These unsecured notes pay no interest, are not principal-protected and are subject to the issuer’s and guarantor’s credit risk.
Each $1,000 security pays at maturity based on the S&P 500® performance on a single observation date. If the final index level is at or above the buffer level of 6,525.688 (85% of the 7,677.28 initial level), investors receive $1,000 plus a fixed upside payment of $72.90, a 7.29% return, regardless of how much the index has risen. If the final level is below the buffer level, repayment is reduced by 1.1765% of principal for every 1% decline beyond the 15% buffer, with no minimum payment; investors can lose their entire investment.
The issue price is $1,000 per security, including selling, structuring and hedging costs, while the estimated value on the pricing date is approximately $986.70. The notes are not bank deposits, are not FDIC insured, may have limited or no secondary market liquidity, and involve complex U.S. federal tax treatment, which could differ from the issuer’s expectation.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering unsecured Airbag In-Digital Securities linked to the S&P 500® Index, fully and unconditionally guaranteed by Morgan Stanley, with principal at risk over an approximately 15-month term to December 1, 2027.
Each Security has a $10 Principal Amount and offers a fixed Digital Return between 11.70% and 12.20%, set on the trade date. If the Final Underlying Level is at or above the Digital Barrier of 90% of the Initial Underlying Level (equal to the Downside Threshold), investors receive $10 plus the Digital Return and do not participate in any further index appreciation.
If the Final Underlying Level is below the Downside Threshold, the payout is reduced using Downside Gearing of 1.111, causing a loss of 1.111% of principal for each 1% index decline beyond the 10% Threshold Percentage, up to a total loss of principal. The Securities pay no interest or dividends, have limited or no secondary market liquidity, and all payments are subject to Morgan Stanley’s credit risk. The estimated value on the trade date is approximately $9.935 per Security, reflecting issuance, structuring and hedging costs borne by investors.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering $10,000,000 of callable fixed-income structured notes due February 29, 2028, linked to the worst performing of the Nasdaq-100 Index®, Russell 2000® Index and EURO STOXX 50® Index. The notes are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley, with principal at risk.
The securities pay a fixed coupon at an annual rate of 13.25%, regardless of index performance, until they are redeemed or mature. Starting March 1, 2027, Morgan Stanley may redeem the notes on specified monthly dates for par plus coupon if a risk neutral valuation model indicates early redemption is economically rational for the issuer; once called, no further payments are made.
If not redeemed, repayment of principal depends on daily “trigger” monitoring versus 70% downside thresholds. If no trigger event occurs, investors receive full principal at maturity plus the final coupon. If any index ever closes below its threshold and any final index level is below its initial level, maturity payment is reduced 1% for each 1% decline in the worst performing index, potentially to zero. The estimated value on the pricing date is $995 per $1,000 note, reflecting issuance, structuring and hedging costs, and the notes are exposed to Morgan Stanley’s credit and liquidity risks as well as complex U.S. tax treatment.
MORGAN STANLEY (symbol MS), through Morgan Stanley Finance LLC, is offering Enhanced Trigger Jump Securities maturing on September 24, 2027, linked to the worst performer of the Dow Jones Industrial Average, Russell 2000® Index and S&P 500® Index. Each security has a $1,000 stated principal amount and pays no interest.
At maturity, if the final level of each index is at or above 75% of its initial level (the downside threshold), investors receive $1,095 per security (a fixed $95 upside payment, or 9.50%). If any index finishes below its threshold, the payoff equals $1,000 multiplied by the performance factor of the worst performing index, producing a 1% loss of principal for each 1% decline and possibly $0.
The aggregate principal amount is $3,324,000, the original issue price is $1,000 but the estimated value on the pricing date is $978.30 due to issuing, selling, structuring and hedging costs. The securities are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley, and all payments depend on Morgan Stanley’s credit. Liquidity is expected to be limited and secondary market prices may be significantly below the issue price.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering Buffered Jump Securities with an auto-callable feature linked to the S&P 500® Futures Excess Return Index, due August 26, 2031. The notes are issued at $1,000 per security, in an aggregate principal amount of $722,000, and are fully and unconditionally guaranteed by Morgan Stanley. The securities do not pay interest and are principal-at-risk unsecured obligations.
The notes are automatically redeemed on August 31, 2027 for $1,092.50 per security if on the first determination date the index is at or above the initial level of 612.11. If not called, at maturity investors receive upside participation of 200% of any index gain. A 15% buffer applies on the downside: if the final level is at or above the buffer level of 520.294, principal is returned; below that, investors lose 1% of principal for each 1% decline beyond the buffer, subject to a minimum payment at maturity of 15% of principal.
The estimated value on the pricing date is $937.60 per security, below the issue price due to issuance, selling, structuring and hedging costs. All payments depend on Morgan Stanley’s credit, there may be limited or no secondary market, and the U.S. federal tax treatment is uncertain, with counsel viewing the notes as prepaid financial contracts that are open transactions.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering Contingent Income Auto-Callable Notes due August 26, 2031 linked to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index, fully and unconditionally guaranteed by Morgan Stanley. The notes have a $1,000 stated principal amount and an aggregate principal amount of $1,617,000, issued at $1,000 per note.
The notes pay a 10.50% per annum contingent coupon, payable monthly only if the index’s closing level on the relevant observation date is at or above the coupon barrier of 2,922.105 (85% of the 3,437.77 initial level). They are automatically redeemed if, on any redemption determination date starting August 23, 2027, the index closes at or above the call threshold of 3,437.77, returning principal plus that period’s coupon. If never called, at maturity investors receive principal plus any final coupon.
The notes do not participate in index upside, depend entirely on Morgan Stanley’s and MSFL’s credit, will not be listed on any exchange and may have limited liquidity. The estimated value on the pricing date is $964.40 per note, below the issue price, reflecting issuance, structuring and hedging costs. The underlier is a relatively new, rules-based, leveraged, volatility-targeting futures index with a 4.0% per annum decrement, and much of its history is hypothetical back-tested performance.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk structured notes (“Jump Securities with Auto-Callable Feature”) maturing on August 28, 2031, linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. The notes have a stated principal amount and issue price of $1,000 per security, with an aggregate principal amount of $970,000, and are fully and unconditionally guaranteed by Morgan Stanley.
The notes can be automatically redeemed starting August 25, 2027 if on any determination date the index closing level is at or above the call threshold level of 1,169.433 (90% of the initial level 1,299.37), for fixed early redemption payments that step up from $1,165 on the first determination date to $1,811.25 on the 48th. If held to maturity and not called, investors receive $1,825 per security if the final index level is at or above the call threshold; only $1,000 if it is between the call threshold and the downside threshold level of 649.685 (50% of initial); and $1,000 × (final level / 1,299.37) if below the downside threshold, leading to a 1-for-1 loss with index declines and potentially zero recovery.
The notes do not pay interest, do not participate in any index appreciation beyond the fixed payouts, and all payments are subject to the credit risk of Morgan Stanley Finance LLC and Morgan Stanley. The estimated value on the pricing date is $907.50 per security, reflecting issuance, selling, structuring and hedging costs and Morgan Stanley’s internal pricing models, and secondary market prices are expected to be lower than the issue price. The underlying index was established on March 14, 2022, targets 40% volatility, includes a 4% per annum decrement, and has limited live performance history.
Morgan Stanley (symbol MS), through Morgan Stanley Finance LLC, is offering Enhanced Buffered Jump Securities linked to the S&P 500® Index, maturing September 9, 2027. Each security has a $1,000 stated principal amount and pays no interest. The notes are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley, with principal at risk.
At maturity, if the S&P 500® final level is at or above the buffer level of 6,906.933 (90% of the 7,674.37 initial level), investors receive $1,000 plus a fixed upside payment of $88.50 (8.85%), regardless of how much the index has risen. If the final level is below the buffer, repayment is reduced by 1.1111% of principal for every 1% index decline beyond the 10% buffer, with no minimum payment, so the entire investment can be lost. The aggregate principal amount is $15,581,000, the issue price is $1,000, and the estimated value on the pricing date is $986.30 per security, reflecting issuing, selling, structuring and hedging costs and Morgan Stanley’s lower internal funding rate. The securities are expected to be highly sensitive to Morgan Stanley’s credit, market volatility, and limited secondary market liquidity.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk structured notes maturing on September 27, 2030, linked to the worst performing of the EURO STOXX 50, Russell 2000 and S&P 500 indices. The notes pay a $37.50 contingent coupon per $1,000 per period only if each index is at or above its coupon barrier on the relevant observation date; missed coupons can be paid later if barriers are met, but can also be lost entirely.
The notes are automatically callable starting March 22, 2027 if each index is at or above its call threshold (100% of its initial level), in which case investors receive $1,000 plus the applicable coupon and any unpaid coupons, with no further payments. If not called, investors receive full principal at maturity only if each index is at or above its downside threshold level (55% of initial). If any index finishes below its downside threshold, repayment is reduced 1% for every 1% decline of the worst index, potentially to zero.
The issue price is $1,000 per note versus an estimated value of $967.50, reflecting embedded costs and dealer compensation of $24.50 per note. All payments depend on the credit of Morgan Stanley Finance LLC and Morgan Stanley. The tax treatment is uncertain, and non‑U.S. holders may face 30% U.S. withholding on coupons.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Buffered Jump Securities with an auto-call feature due August 26, 2031, linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. Each security has a $1,000 stated principal amount and issue price, with an aggregate principal amount of $3,670,000, and is fully and unconditionally guaranteed by Morgan Stanley.
The notes pay no interest and may be automatically redeemed quarterly from August 25, 2027 if the index closing level is at or above the call threshold of 1,320.45 (100% of the initial level), for fixed cash payments starting at $1,187.50 and rising to $1,921.875 per security. If not called, at maturity investors receive $1,937.50 per security if the final level is at or above 1,320.45; the $1,000 principal if the final level is between the call threshold and the buffer level of 1,122.383 (85% of initial); and otherwise an amount reflecting a loss of 1% of principal for each 1% index decline beyond the 15% buffer, subject to a minimum payment equal to 15% of principal.
The notes expose holders to Morgan Stanley’s credit risk, the structured index’s limited history and 4% annual decrement, potential illiquidity, and U.S. tax uncertainty. The estimated value on the pricing date is $904.30 per security, below the issue price, due to selling, structuring and hedging costs and issuer funding economics.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Enhanced Buffered Jump Securities maturing February 25, 2028, linked to the worst-performing of the State Street SPDR S&P 500 ETF Trust (SPY) and the State Street SPDR S&P MidCap 400 ETF Trust (MDY). Each security has a stated principal amount and issue price of $1,000, with an aggregate principal amount of $250,000, pays no interest, and is fully and unconditionally guaranteed by Morgan Stanley.
At maturity, if the final level of each ETF is at or above its 15% buffer level, investors receive $1,118 per security (principal plus an upside payment of $118, or 11.80%). If either ETF finishes below its buffer, the payoff is $1,000 multiplied by the performance factor of the worst-performing ETF plus the 15% buffer, subject to a minimum payment of 15% of principal ($150). Investors therefore face 1% principal loss for each 1% decline in the worst-performing ETF beyond the 15% buffer.
The initial levels are $765.72 for SPY and $699.60 for MDY, with buffer levels set at 85% of these values. The estimated value on the pricing date is $981.10 per security, below the $1,000 issue price due to issuing, selling, structuring and hedging costs borne by investors. The securities are unsecured obligations subject to Morgan Stanley’s credit risk, may have limited or no secondary market liquidity, and carry complex U.S. federal income tax treatment described as prepaid financial contracts with potential “constructive ownership” and Section 871(m) considerations.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk structured notes (“Jump Securities”) due August 26, 2036 with an aggregate principal amount of $500,000 and a stated principal of $1,000 per security, fully and unconditionally guaranteed by Morgan Stanley.
The notes are linked to the worst performing of three equity futures excess return indices: the Dow Jones Industrial Average Futures Excess Return Index, the Russell 2000 Futures Excess Return Index and the S&P 500 Futures Excess Return Index. On the first determination date (August 31, 2027), if each index is at or above its initial level (the call thresholds), the notes are automatically redeemed for an early redemption payment of $1,220 per security, and no further payments are made.
If not called, at maturity investors receive: (i) principal plus an upside payment equal to 570% of the gain of the worst performer if all final levels exceed initial levels; (ii) principal only if at least one index is at or below its initial level but all are at or above 60% of initial; or (iii) exposure to the full downside of the worst performer (1% loss per 1% decline), potentially down to zero, if any index closes below its downside threshold. The estimated value on the pricing date is $903.80 per security, below the issue price, reflecting embedded costs and Morgan Stanley’s pricing. The notes pay no interest, are unsecured obligations subject to Morgan Stanley’s credit risk, may have limited or no secondary market liquidity, and carry complex tax and index-specific risks.
MORGAN STANLEY (MS), via Morgan Stanley Finance LLC, is issuing Dual Directional Jump Securities with Auto-Callable Feature due August 26, 2031, linked to the S&P 500 Futures 40% Intraday 4% Decrement VT Index. These are unsecured, principal-at-risk notes, fully and unconditionally guaranteed by Morgan Stanley.
Each security has a $1,000 stated principal amount and issue price, with an aggregate principal of $1,025,000. The notes may be automatically redeemed quarterly from August 25, 2027 if the index is at or above the call threshold of 3,437.77, paying a scheduled early redemption amount corresponding to roughly 20.75% per annum. If held to maturity and the final index level is at or above the call threshold, investors receive $2,037.50 per security.
If the final level is below the call threshold but at or above the downside threshold of 1,718.885 (50% of the initial level), investors receive principal plus a positive “absolute return” up to a 50% maximum gain; below the downside threshold, losses are 1% of principal for each 1% index decline, potentially down to zero. The estimated value on the pricing date is $922.90 per security, reflecting embedded costs, and all payments depend on Morgan Stanley’s creditworthiness.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering unsecured, principal-protected market-linked notes due September 13, 2027, linked to the worst performing of the Nasdaq‑100 Index and the Russell 2000 Index and fully and unconditionally guaranteed by Morgan Stanley.
The notes pay no interest. At maturity, if both indices finish above their initial levels, holders receive $1,000 plus 100% of the worst index’s gain, capped at a maximum payment of $1,066.50 per note (106.65% of principal). If either index is at or below its initial level, only the $1,000 principal is repaid.
The issue price is $1,000 per note, while the estimated value on the pricing date is approximately $981.70 per note, reflecting issuing, selling, structuring and hedging costs. The notes will not be listed on any exchange, all payments are subject to Morgan Stanley’s and MSFL’s credit risk, and U.S. holders are expected to be taxed under contingent payment debt instrument rules.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Contingent Income Auto-Callable Securities due February 25, 2028 linked to the worst performing of the State Street Energy Select Sector SPDR ETF (XLE) and the State Street SPDR S&P Oil & Gas Exploration & Production ETF (XOP), fully and unconditionally guaranteed by Morgan Stanley.
Each security has a $1,000 stated principal amount and pays a 9.80% per annum contingent coupon only if on an observation date the closing level of both underliers is at or above their coupon barrier levels, set at 70% of initial levels: XLE $44.548 and XOP $132.678. The notes are automatically redeemed on specified dates if both underliers are at or above their call thresholds, equal to 100% of initial levels: XLE $63.64 and XOP $189.54, paying principal plus the applicable coupon.
If not called, at maturity investors receive principal only if the final level of each ETF is at or above its downside threshold (70% of initial). Otherwise, repayment is reduced 1% for each 1% decline of the worst performer, potentially to $0. The aggregate principal amount is $5,749,000, with an estimated value of $969.40 per security on the pricing date, and all payments are subject to Morgan Stanley’s credit risk and limited secondary market liquidity.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.