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 Structured Investments Enhanced Buffered Jump Securities linked to the common stock of Micron Technology, Inc. (underlier). Each security has a $1,000 stated principal amount and a $382.50 upside payment at maturity if the final level is greater than or equal to the buffer level. The securities use a 40% buffer (buffer level = 60% of the initial level) and a downside factor of 1.6667: if the final level is below the buffer, investors lose 1.6667% of principal for each 1% decline beyond the buffer and could lose their entire investment. The securities mature on July 28, 2027 with final averaging dates in July 2027; estimated value on the pricing date is $982.30 per security. All payments are subject to Morgan Stanley and MSFL credit risk.
Morgan Stanley Finance LLC is offering Digital Equity-Linked Notes due ~13–15 months, linked to Broadcom Inc. common stock, with a $1,000 Face Amount per note. The notes pay no interest and are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley. If the Final Underlier Level on the Determination Date is ≥85.00% of the Initial Underlier Level, holders receive a capped Maximum Settlement Amount (expected to be between $1,275.20 and $1,322.80 per $1,000 face); if below 85.00%, the Cash Settlement Amount declines pro rata and could result in a total loss of principal. The estimated value on the Trade Date is ~$980.10 per note. All payments are subject to Morgan Stanley credit risk; no listing, no redemption and no dividend or voting rights in the Underlier are provided.
Morgan Stanley Finance LLC priced Contingent Income Auto-Callable Securities linked to the worst performing of the Nasdaq-100® Technology Sector and the Russell 2000®. The notes have a $1,000 stated principal amount per security and total aggregate principal of $3,529,000, an estimated value on the pricing date of $986.20 per security and mature on October 13, 2027.
The securities pay a contingent coupon at an annual rate of 14.20% only if both underliers are at or above their coupon barrier levels on observation dates, feature automatic early redemption when both underliers meet 100% call thresholds on a redemption determination date, and expose investors to principal loss equal to the worst performing underlier at maturity if either underlier finishes below its downside threshold of 75% of initial level.
Morgan Stanley Finance LLC is offering structured, market-linked notes due July 14, 2031, fully and unconditionally guaranteed by Morgan Stanley. The notes have a stated principal amount of $1,000 per note, an aggregate principal amount of $100,000 and an issue price of $1,000 per note (agent commission $25, proceeds to issuer $975 per note). Payment at maturity: if the final level of the underlying basket exceeds the initial level (100), investors receive principal plus a 100% participation in appreciation; if the final level is equal to or less than the initial level, investors receive only the stated principal amount. The estimated value on the pricing date was $928.20 per note.
Morgan Stanley Finance LLC (guaranteed by Morgan Stanley) is offering contingent-income, memory‑ETF‑linked, principal‑at‑risk notes with a $1,000 stated principal per security and January 11, 2028 maturity. The notes pay a contingent coupon at an annual rate of 43.50% on each interest period only if the Roundhill Memory ETF closing level on each observation date is at or above the coupon barrier ($38.856, 60% of the initial level). The notes are auto‑callable on scheduled redemption determination dates if the closing level meets or exceeds the call threshold ($64.76, 100% of the initial level). If not called and the final level is below the downside threshold ($38.856), principal is reduced pro rata (payment = principal × final level / initial level) and could be zero. Issue price is $1,000 with an estimated value on pricing of $964.00 and agent commissions of $24.50 per security.
Morgan Stanley Finance LLC priced a $2,917,000 offering of unsecured, auto‑callable Jump Notes guaranteed by Morgan Stanley. Each note has a $1,000 stated principal amount, an estimated value of $976.30 on the pricing date and does not pay interest. The notes are linked to the worst performing of AMD, NVDA and PLTR, automatically redeeming for $1,278 on July 13, 2027 if each underlier meets its call threshold. If not redeemed early, maturity is July 12, 2029 with a 125% participation rate on the appreciation of the worst performing underlier; if any underlier finishes at or below its initial level, investors receive only the stated principal.
Morgan Stanley Finance LLC is offering Principal at Risk notes (fully guaranteed by Morgan Stanley) linked to the worst performing common stock of Bank of America, Citigroup and JPMorgan Chase. The offering is for $625,000 aggregate principal in $1,000 denominations; the original issue price is $1,000 per security and the estimated value on the pricing date is $978.10 per security. The securities pay a contingent coupon at an annual rate of 11.00% on specified observation dates only if each underlier is at or above its coupon barrier level (60% of initial level). Automatic early redemption is possible on scheduled redemption determination dates beginning October 6, 2026. If not redeemed, maturity is July 11, 2028, and principal repayment at maturity depends on the worst performing underlier relative to its downside threshold (60% of initial level), exposing holders to potential loss of principal proportional to the worst underlier’s decline.
Morgan Stanley Finance LLC is offering Digital Equity-Linked Notes due linked to ServiceNow, Inc. stock, fully guaranteed by Morgan Stanley. Each note has a Face Amount of $1,000 and does not pay interest. The notes pay a capped Maximum Settlement Amount (expected to be between $1,359.20 and $1,421.50 per $1,000) if the Final Underlier Level is >= 85.00% of the Initial Underlier Level. If the Final Underlier Level is below 85.00%, the cash payment is reduced by a formula using a Buffer Rate of 117.65%, and investors may lose some or all principal. The Original Issue Price is $1,000 and the estimated value on the Trade Date is approximately $977.00 (± $15). All payments are subject to issuer and guarantor credit risk; the notes are unsecured, unlisted and have limited secondary-market liquidity.
Morgan Stanley Finance LLC priced Principal at Risk notes linked to Micron Technology, Inc. common stock with a $1,000 stated principal amount per security and an aggregate principal amount of $885,000.
The securities were issued at an issue price of $1,000 per security (estimated value $978.60), pay no interest, offer a fixed upside payment of $444.40 (44.44%) if the final level is at or above the downside threshold of $492.375 (50% of the initial level), and otherwise pay the stated principal multiplied by the performance factor = final level / initial level. The observation date is August 6, 2027 and maturity is August 11, 2027.
Morgan Stanley Finance LLC priced auto-callable Principal-at-Risk notes linked to the worst-performing of the Nasdaq-100 (NDX) and Nasdaq-100 Technology Sector (NDXT). The securities have a $1,000 stated principal amount and an aggregate issuance of $1,445,000. The notes pay no interest, can be automatically redeemed on scheduled determination dates for fixed early redemption payments, and expose holders to full principal loss if the worst-performing underlier finishes below its downside threshold.
The initial levels were NDX 29,173.02 and NDXT 17,002.13; call thresholds are 95% of those levels and downside thresholds are 80% of those levels. The estimated value on the pricing date was $940.20 per security; the issue price is $1,000 (agent commission $25, proceeds to issuer $975 per security).
Morgan Stanley Finance LLC priced $1,862,000 of Principal-at-Risk notes — structured, fixed‑coupon, buffered auto‑callable securities linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. Each security has a $1,000 stated principal and was issued at $1,000 per security on an original issue date of July 10, 2026. The notes pay a fixed annual coupon of 6.50% monthly, can be automatically redeemed starting on the first redemption determination date of July 7, 2027 if the underlier is at or above the call threshold of 1,201.365 (90% of the initial level), and mature on July 10, 2031. If not called, holders receive principal at maturity only if the final level is at or above the buffer level of 1,134.623 (85% of the initial level); otherwise principal is reduced by the underlier loss beyond the 15% buffer, subject to a 15% minimum payment. The estimated value on the pricing date was $921.20 per security. All payments are subject to MSFL and Morgan Stanley credit risk.
Morgan Stanley Finance LLC issues structured, principal-at-risk notes — MSFL (guaranteed by Morgan Stanley) intends to issue notes with a $1,000 stated principal amount and an issue price of $1,000 per security. Strike date: July 24, 2026; Maturity date: July 29, 2030. The notes reference a five-stock basket and feature automatic early redemption on scheduled determination dates if the underlier meets or exceeds a call threshold level of 90, offering fixed early redemption payments that rise over time (first early redemption payment $1,201 and final scheduled pre-maturity payment $1,753.75). At maturity investors receive $1,804 if the final level >= call threshold; return of principal if final level is between the call threshold and the downside threshold; otherwise payment equals principal × performance factor, exposing investors to full downside below a downside threshold level of 50. All payments are subject to the issuer’s credit risk. Estimated value on the pricing date was approximately $897.80 per security.
Morgan Stanley Finance LLC is offering Principal at Risk structured notes linked to NVIDIA Corporation common stock with a $1,000 stated principal per security and an issue price $1,000.
The securities accrue a contingent coupon at an annual rate of 11.92%, pay coupons only if the closing level on each observation date is at or above a coupon barrier equal to 55% of the initial level, and feature automatic early redemption if the closing level on a redemption determination date is at or above a call threshold equal to 100% of the initial level. If not redeemed, maturity is January 21, 2028, with final observation on January 18, 2028; if the final level is below the downside threshold (55% of the initial level), payment at maturity is reduced pro rata by the performance factor and could be zero. The estimated value on the pricing date was approximately $979.10 per security. All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC offers auto-callable, principal-at-risk securities linked to the worst performing of the Dow Jones Industrial Average and the S&P 500. Each note has a $1,000 stated principal amount, a 100% participation rate and automatic early‑redemption opportunities beginning on October 12, 2026. If not called, maturity is July 15, 2031 with downside protection only to 75% of each index’s initial level; losses below that threshold expose holders to the full decline of the worst performing underlier.
Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable notes due July 22, 2031, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an original issue price of $1,000. The underlier is a weighted basket: SPX (40%), RTY (30%), EFA (20%) and EEM (10%); the initial level and multipliers will be set on the strike date (July 17, 2026). The securities auto-redeem on the first determination date (July 20, 2027) if the closing underlier level is >= the call threshold (100) for an early redemption payment of $1,090. At maturity investors receive either principal plus an upside payment (if final level > initial), principal (if final level between 100% and the downside threshold 65), or a loss pro rata to the underlier decline (if final level < 65%), which could result in a total loss of principal. The participation rate is 171%. Estimated value on the pricing date was about $977.30. All payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC (guaranteed by Morgan Stanley) is offering callable, principal-at-risk Structured Investments—"Callable Buffered Jump Securities"—linked to the worst performing of the iShares Core S&P Mid‑Cap ETF and the iShares Core S&P Small‑Cap ETF. Stated principal amount is $1,000 per security with an issue price of $1,000 and an estimated value on the pricing date of approximately $973.30. The notes mature on July 12, 2030 with an observation date of July 9, 2030 and may be redeemed early beginning on July 21, 2027 if a risk neutral valuation model indicates early redemption is economically rational for the issuer. At maturity investors may receive: principal plus an upside payment (participation rate 173%) if both underliers finish above their initial levels; the stated principal if both finish at or above their buffer level (80% of initial); otherwise a reduced payment that reflects losses in the worst performing underlier subject to a minimum payment of 20% of principal. All payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is offering callable Principal-at-Risk notes linked to the worst performing of the iShares® Silver Trust (SLV) and the SPDR® Gold Trust (GLD). Each security has a $1,000 stated principal amount and an original issue price of $1,000. The notes pay a contingent coupon of 12.75% per annum for each interest period only if the closing level of both underliers is greater than or equal to its coupon barrier (70% of the initial level) on the relevant observation date. The notes are callable beginning January 14, 2027 based on a risk neutral valuation model selected by the calculation agent. If not redeemed, at maturity on July 13, 2028 investors receive principal if both final levels are at or above their buffer levels (80% of initial); otherwise payment equals principal × (performance factor of the worst performing underlier + 20%), subject to a minimum payment of 20% of principal. All payments are subject to Morgan Stanley credit risk; estimated value on the pricing date was approximately $976.20 per security.
Morgan Stanley Finance LLC priced a series of Principal at Risk notes due July 21, 2031 under its Global Medium-Term Notes program, secured by an unconditional guarantee of Morgan Stanley.
The notes have a $1,000 stated principal amount and pay a fixed $480 upside payment (48% of principal) at maturity if the final level of each underlier is at or above its downside threshold. If either underlier finishes below its downside threshold (65% of its initial level), the payment equals principal multiplied by the performance factor of the worst performing underlier; there is no minimum payment and investors may lose their entire investment. The underliers are the Russell 2000® Index and the S&P 500® Index; the observation date is July 16, 2031 and original issue date is July 21, 2026. The estimated value on the pricing date is approximately $986.40 per security.
Morgan Stanley Finance LLC priced Dual Directional Buffered PLUS notes due August 10, 2029, unsecured obligations of MSFL fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an original issue price of $1,000. The payoff is linked to the worst performing of the Russell 2000® and S&P 500® indices, with a 113% leverage factor, an 18% buffer (buffer level = 82% of initial level) and a minimum payment at maturity of 18% of principal. Key dates: strike/pricing August 7, 2026, original issue date August 12, 2026, observation date August 7, 2029, maturity August 10, 2029. Estimated value on the pricing date was approximately $976.20 per security. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC is offering principal-at-risk structured securities with a $1,000 stated principal per security and an upside payment of $141.50 (14.15%). The securities are linked to the worst performing of the Nasdaq-100 Technology Sector, Russell 2000 and S&P 500 and include a 15% buffer and a 15% minimum payment at maturity. The pricing and strike dates are July 10, 2026, the original issue date is July 15, 2026, the observation date is August 10, 2027 and maturity is August 13, 2027. The estimated value on the pricing date is approximately $984.40 per security. All payments are subject to MSFL and Morgan Stanley credit risk.
Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable notes linked to the Nasdaq-100 Index with a $1,000 stated principal amount per security. The securities can be automatically redeemed on First determination date: July 20, 2027 for an Early redemption payment: $1,125.50 if the underlier is at or above the call threshold (100% of the initial level). If not called, final payoff at maturity (July 20, 2029) depends on the Final determination date: July 17, 2029 closing level: investors receive principal plus an upside payment when the final level is above the initial level (with a 200% participation rate), receive only principal if the final level is between the downside threshold and the initial level, and suffer a proportional loss if the final level is below the downside threshold (set at 70% of the initial level), potentially losing the entire investment. The estimated value on the pricing date is approximately $986.70 per security. All payments are unsecured obligations of MSFL and are fully guaranteed by Morgan Stanley and subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC is pricing Principal-at-Risk Buffered Jump Securities due July 19, 2029 linked to the worst performing of the Dow Jones Industrial Average and the S&P 500. Each security has a $1,000 stated principal amount and may be automatically redeemed for $1,100 on the early redemption date if both underliers meet their call thresholds on the first determination date. If not redeemed, maturity payoffs depend on the worst performing underlier: investors receive principal plus an upside payment when the final levels exceed initial levels (participation rate 198%), principal only when declines stay within a 15% buffer, and a pro rata loss beyond the buffer with a 15% minimum payment at maturity. The estimated value on the pricing date is approximately $985.70 per security and all payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC (guaranteed by Morgan Stanley) is offering callable Principal-at-Risk notes linked to the worst performing of the Dow Jones Industrial Average, the Nasdaq-100® Technology Sector Index and the Russell 2000® Index. Each security has a stated principal amount of $1,000 and an original issue price of $1,000. The notes pay a contingent coupon at an annual rate of 12.45% only if on each observation date the closing level of each underlier is at or above its coupon barrier (70% of initial level). The notes are redeemable beginning on October 27, 2026 if a risk neutral valuation model indicates redemption is economically rational; first redemption cannot occur earlier. If not redeemed, at maturity on July 26, 2029 investors receive principal only if every underlier is at or above its downside threshold (70% of initial level); otherwise payment equals $1,000 × performance factor of the worst performing underlier, potentially resulting in substantial principal loss or zero. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC is offering principal-at-risk, contingent income auto-callable securities linked to the common stock of Cadence Design Systems, Inc. The securities have a $1,000 stated principal amount and an original issue price of $1,000 per security. Strike/ Pricing Date: July 23, 2026; Original Issue Date: July 28, 2026; Maturity Date: August 26, 2027; Final Observation Date: August 23, 2027. The securities pay a contingent coupon at an annual rate of 13.90% only if the closing level of the underlier meets or exceeds the coupon barrier on each observation date. The coupon barrier and downside threshold are each 55% of the initial level; the call threshold is 100% of the initial level. If not auto‑redeemed and the final level is below the downside threshold, investors suffer a proportional principal loss (performance factor = final level / initial level). Estimated value on the pricing date was approximately $969.50 per security. All payments are subject to Morgan Stanley Finance LLC’s credit risk and guaranteed by Morgan Stanley.
Morgan Stanley Finance LLC is offering Buffered PLUS principal-at-risk securities linked to the worst performing of the iShares® Russell Mid‑Cap ETF and the S&P 500® Index, 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, an estimated value on the pricing date of $988.80, a 150% leverage factor, a maximum payment at maturity of $1,210 (121%), a buffer amount of 20% (buffer level = 80% of initial level) and a minimum payment at maturity of 20% of principal. Key dates: strike/pricing date July 31, 2026, observation date January 31, 2028, and maturity date February 3, 2028. All payments are subject to MSFL’s and Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is offering principal-at-risk auto-callable notes due July 21, 2031, fully and unconditionally guaranteed by Morgan Stanley. The securities have a $1,000 stated principal amount and an issue price of $1,000 per security; estimated value on the pricing date is approximately $951.40. The notes pay a contingent coupon of 7.80% per annum only if each of the Nasdaq-100, Russell 2000 and S&P 500 closing levels meet their coupon barriers on observation dates, are automatically redeemed if all underliers meet 100% call thresholds on a redemption determination date, and return principal at maturity only if each underlier is at or above a 70% downside threshold; otherwise payment at maturity declines pro rata with the worst performing underlier.
Morgan Stanley Finance LLC priced a preliminary offering of Contingent Income Auto-Callable Securities linked to the Class A common stock of ServiceTitan, Inc. (underlier) with a stated principal amount of $1,000 per security.
The securities pay a contingent coupon at an annual rate of 25.00% on each coupon payment date only if the closing level of the underlier on the related observation date is at or above a coupon barrier equal to 60% of the initial level. The notes are auto‑callable if the closing level on any redemption determination date is at or above the call threshold (set at 100% of the initial level) and mature on July 20, 2029. If not redeemed and the final level is below the downside threshold (also 60% of the initial level), payment at maturity equals the stated principal multiplied by the performance factor (final level / initial level), potentially resulting in a substantial loss of principal. The strike and pricing date are July 17, 2026, original issue date July 22, 2026, and the estimated value on the pricing date is approximately $952.40 per security.
Morgan Stanley Finance LLC is offering Buffer Autocallable GEARS linked to the S&P MidCap 400® Index with an Issue Price of $10 per Security and a minimum purchase of 100 Securities. The notes are unsecured, guaranteed by Morgan Stanley, automatically callable if the Observation Date Closing Level meets the Autocall Barrier, and mature on July 18, 2029 (subject to postponement). The securities provide an approximate estimated value of $9.646 on the Trade Date, an indicated Call Return of 9.00% if called, Upside Gearing of 1.32 to 1.52 (finalized on the Trade Date), and a 10% Buffer that applies only at maturity; investors can lose up to 90% of principal if the Final Level is below the Downside Threshold (90% of the Initial Level). All payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC (guaranteed by Morgan Stanley) is offering Buffered PLUS tied to the KraneShares CSI China Internet ETF due July 26, 2032. Each note has a $1,000 stated principal amount and issue price, a 200% leverage factor on upside subject to a $2,373 cap, a 10% buffer on downside and a $100 minimum payment at maturity.
The pricing date is July 21, 2026 with an original issue date of July 24, 2026. Estimated value on the pricing date is approximately $896.20 (within $46.20). Proceeds are for general corporate purposes and all payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC offers Dual Directional Buffered PLUS notes due July 24, 2029, linked to the S&P 500® Futures Excess Return Index. Each security has a stated principal amount of $1,000 and an original issue price of $1,000; the estimated value on the pricing date was approximately $956.10.
At maturity the payoff is one of three outcomes: (1) if the final level > initial level, investors receive principal plus a 116% leveraged upside on appreciation; (2) if final level ≤ initial but ≥ the 80% buffer level, investors receive principal plus an absolute return based on the absolute decline (capped effectively at 20%); (3) if final level < buffer level, investors lose 1% of principal for each 1% decline beyond the 20% buffer, subject to a 20% minimum payment at maturity. All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley and are subject to credit and market risks.
Morgan Stanley Finance LLC priced callable Contingent Income Securities with a stated principal amount of $1,000 per security that are fully and unconditionally guaranteed by Morgan Stanley. The securities pay a contingent coupon at an annual rate of 10.85% only if, on each observation date, the closing level of each underlier meets or exceeds its coupon barrier (70% of its initial level). The securities are linked to the worst performing of the Russell 2000 Index, the S&P 500 Index and the State Street Financial Select Sector SPDR ETF and mature on January 27, 2028. If not redeemed and the final level of any underlier is below its downside threshold (70% of initial), payment at maturity is the stated principal multiplied by the performance factor of the worst performing underlier, exposing investors to full principal loss. The securities are callable in whole on specified monthly redemption dates beginning January 28, 2027 if a risk neutral valuation model indicates redemption is economically rational, and all payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC offers principal-at-risk, contingent income, memory auto-callable securities tied to the common stock of Micron Technology, Inc., fully and unconditionally guaranteed by Morgan Stanley. Stated principal amount is $1,000 per security and the original issue price is $1,000. The securities pay a contingent coupon only when the closing level of Micron meets or exceeds the coupon barrier on observation dates and are subject to automatic early redemption if Micron meets the call threshold on any redemption determination date. If not called, maturity payment returns principal only if the final level is at or above the downside threshold; otherwise payment equals $1,000 × final level / initial level and could be zero. Key dates: strike date July 8, 2026, pricing date July 9, 2026, original issue date July 14, 2026, final observation date July 10, 2028, maturity July 13, 2028. All payments are subject to issuer credit risk.
Morgan Stanley Finance LLC priced Principal-at-Risk callable contingent income securities linked to the worst-performing of Oracle Corporation and Palantir Technologies class A common stock. Stated principal amount is $1,000 per security and the issue price is $1,000. The securities pay a contingent coupon of 51.00% per annum on each coupon payment date only if the closing level of both underliers meets or exceeds their coupon barrier levels on the related observation dates. The securities are callable beginning on July 28, 2027 via an early redemption determined if a risk neutral valuation model indicates redemption is economically rational. If not called, at maturity on July 27, 2028 investors receive principal only if both final levels are at or above their downside threshold (75% of initial); otherwise payment equals principal times the performance factor of the worst performing underlier, which could be substantially less or zero. All payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is offering principal‑at‑risk, contingent‑coupon auto‑callable securities due July 20, 2028. Each security has a stated principal amount of $1,000 and a contingent coupon at an annual rate of 20.10% payable only if the closing level of both underlying stocks meets coupon barrier tests on each observation date. The securities reference the worst performing of Eli Lilly common stock and NVIDIA common stock and are fully and unconditionally guaranteed by Morgan Stanley.
The securities pay interest only when both underliers close above their coupon barrier (60% of initial level) on observation dates, may be automatically redeemed early if both underliers meet a call threshold (100% of initial level) on a redemption determination date, and at maturity repay principal only if both final levels are at or above their downside thresholds (60% of initial level). If the worst performing underlier is below its downside threshold at maturity, principal is reduced pro rata to that underlier's performance and could be zero. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC priced Dual Directional Trigger PLUS notes that link payoff to the worst performing of the Dow Jones Industrial Average and the S&P 500® Index. Each note has a stated principal amount of $1,000 and an estimated value on the pricing date of approximately $984.50. The notes mature on July 26, 2030 with an observation date of July 23, 2030 (strike/pricing date July 23, 2026 and original issue date July 28, 2026). The structure: 130% leverage on upside, a 50% absolute return participation feature if the worst underlier declines but stays at or above a 70% downside threshold, and full downside exposure (1% loss for each 1% decline) if the worst underlier is below its 70% threshold on the observation date. There is no guaranteed minimum payment; payments depend solely on closing levels on the observation date and are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC offers Principal at Risk notes due August 12, 2027, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an issue price of $1,000 per security; the estimated value on the pricing date is approximately $985.10 per security. The notes pay no interest; if the S&P 500® Index final level on the observation date is at or above the downside threshold (85% of the initial level), investors receive the stated principal plus a fixed $101 upside payment. If the final level is below the downside threshold, the payment equals the stated principal multiplied by the ratio of the final level to the initial level, exposing investors to full downside loss, including possible total principal loss.
Morgan Stanley Finance LLC is offering Structured Investments — Enhanced Trigger Jump Securities due August 12, 2027, fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000, an upside payment of $81.70 (8.17%), and an estimated value on the pricing date of approximately $986.20. The securities pay no interest and return at maturity depends on the closing level of the S&P 500® Index on the observation date August 9, 2027. If the final level is at or above the downside threshold (75% of the initial level), holders receive $1,081.70; if below, the payment equals the stated principal multiplied by final/initial level, with no minimum and potential loss of the entire investment.
Morgan Stanley Finance LLC is offering structured buffered partial participation securities linked to the S&P 500® Index, with a $1,000 stated principal amount and an original issue price of $1,000 per security. The securities have a participation rate of 93.24%, a 20% buffer and a downside factor of 1.25. The strike and pricing date are July 9, 2026, the original issue date is July 14, 2026, and the maturity date is July 14, 2031. If the final averaged index level exceeds the initial level, holders receive principal plus 93.24% of appreciation; if the final averaged level is between the initial level and the 80% buffer, holders receive principal; if below the buffer, holders incur a loss of 1.25% per 1% decline beyond the buffer and could lose their entire investment. The document gives an estimated value on the pricing date of approximately $956.80 per security and discloses agent commissions of $30 per security, leaving proceeds of $970 per security to the issuer. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering Trigger Autocallable GEARS linked to the KOSPI 200 Index with a $10.00 issue price and a 5‑year term maturing on July 11, 2031. The securities are unsecured debt of MSFL, fully guaranteed by Morgan Stanley, and provide a fixed Call Return if the KOSPI 200 closes at or above the Autocall Barrier on the Observation Date. If not called, holders receive leveraged upside at maturity equal to the Underlying Return times an Upside Gearing of 3.50, but face full exposure to negative returns below a Downside Threshold of 65% of the Initial Level, which can cause a loss of principal. The estimated Trade Date value is $9.549 per security and the Call Return Rate is 30.00% per annum. All payments are subject to Morgan Stanley's credit risk and secondary market liquidity may be limited.
Morgan Stanley Finance LLC is offering Buffered PLUS with Downside Factor notes, fully and unconditionally guaranteed by Morgan Stanley. The securities have a stated principal amount of $10 per security, a 200% leverage factor, a 10% buffer (buffer level = 90% of the initial level), a maximum payment at maturity of $12.50 per security (125% of principal) and no guaranteed interest.
The strike and pricing date is July 9, 2026, the observation date is July 10, 2028 (subject to postponement), and the maturity date is July 13, 2028. Estimated value on the pricing date is approximately $9.917 per security. All payments are subject to Morgan Stanley's credit risk; if the final level is below the buffer level investors incur amplified principal losses (downside factor 1.1111% applied per 1% decline beyond the buffer) and could lose their entire investment.
Morgan Stanley Finance LLC priced Principal at Risk notes tied to the S&P 500® Index. Each security has a stated principal amount of $1,000, an issue price of $1,000 and an estimated value on the pricing date of approximately $985.90. The notes mature on August 12, 2027 with an observation date of August 9, 2027.
At maturity, if the final level is ≥ the downside threshold level (5,986.168, 80% of the initial level of 7,482.71), holders receive $1,000 plus a fixed upside payment of $91.40 (9.14%). If the final level is below the downside threshold, the payment equals $1,000 × (final level / initial level) and could be significantly less or zero. All payments are subject to Morgan Stanley Finance LLC credit risk and guaranteed by Morgan Stanley.
Morgan Stanley Finance LLC offers contingent income, memory buffered auto-callable notes due July 15, 2027 linked to the iShares® Semiconductor ETF, with principal at risk and a contingent coupon feature. The securities pay a contingent coupon only if observation-date closing levels meet the coupon barrier and may be automatically redeemed on specified redemption determination dates.
The notes have a stated principal amount of $1,000 per security, an original issue price of $1,000, an estimated value on the pricing date of approximately $982.10, a buffer amount of 40% and a contingent coupon at an annual rate of 10.35%. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering Autocallable Trigger GEARS linked to the common stock of JPMorgan Chase & Co. (Underlying Shares). The securities have a $10.00 principal amount per Security, an approximate 3-year term and are fully guaranteed by Morgan Stanley.
If the Observation Date Closing Price is at or above the Autocall Barrier, the Securities will be automatically called and pay a fixed Call Price equal to the principal plus the Call Return. If not called, a positive Share Return at maturity is amplified by an Upside Gearing of 1.70; if the Final Price is below the Downside Threshold (75% of the Initial Price), the payment at maturity will reflect the negative Share Return and could result in a significant loss of principal. All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC priced Principal at Risk Buffered Jump Securities linked to the Russell 2000® Index. Each security has a stated principal amount of $1,000, an upside payment of $154 (15.40%), a buffer of 10% and a minimum payment at maturity of 10%.
The initial/strike level was 2,956.389 on July 8, 2026. The observation date is August 4, 2027 and the maturity date is August 6, 2027. If the final level is ≥ initial level, investors receive principal plus the upside payment. If the final level is < buffer level, losses equal 1% per 1% decline beyond the buffer. All payments are subject to MSFL's and Morgan Stanley's credit risk.
Morgan Stanley Finance LLC is offering $4,926,000 aggregate face amount of Autocallable Buffered Russell 2000® Index-Linked Notes due July 11, 2029, fully and unconditionally guaranteed by Morgan Stanley. The notes pay no interest, have a face amount of $1,000 per note and may be automatically called on July 15, 2027 for $1,123.50 per note (call premium 12.35%). If not called, maturity payoffs depend on the Russell 2000® performance from the trade date to the determination date: upside participation is 150%, a buffer protects declines up to 5.00%, and losses occur if the final index level is below the buffer. The estimated value on the trade date is $964.10 per note. All payments are subject to issuer and guarantor credit risk and the notes are unsecured and unlisted.
Morgan Stanley Finance LLC offers principal-at-risk, auto-callable structured notes due July 27, 2029 linked to the worst performing of Micron Technology, Meta Platforms (Class A) and Qualcomm common stocks. Each security has a $1,000 stated principal amount and pays a contingent coupon at an annual rate of 21.75% on observation dates only if each underlier meets its coupon barrier level. The notes may be automatically redeemed early if all underliers meet their call thresholds on a redemption determination date; otherwise maturity pay‑out depends on the worst performing underlier and could result in a significant principal loss or zero. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley is offering $50,600,000 aggregate principal amount of Fixed Rate Notes due 2027. The notes were priced on July 1, 2026 and originally issued on July 7, 2026, pay interest at a 4.450% fixed annual rate and mature on September 7, 2027. Interest accrues from the original issue date and is payable at maturity. Notes are denominated at $1,000 per note, will not be listed on any exchange, and are subject to Morgan Stanley's credit risk. The pricing supplement discloses original issue discount accruals per note totaling $51.9167 as of maturity periods shown and refers investors to the prospectus supplement dated April 8, 2026 for tax and other details.
Morgan Stanley Finance LLC is offering Structured Investments Enhanced Buffered Jump Securities linked to the S&P 500® Index, with principal at risk and a guarantee by Morgan Stanley. The securities have a stated principal amount of $1,000 per security and an aggregate principal amount of $3,750,000. The securities mature on July 16, 2027 with an observation date of July 13, 2027. If the final level is greater than or equal to the buffer level investors receive the stated principal plus an upside payment of $87.60 (8.76%); if the final level is below the buffer level (buffer = 10%), investors incur losses equal to 1.1111% per 1% decline beyond the buffer, and could lose their entire investment. The estimated value on the pricing date was $986.50 per security, and all payments are subject to the issuer’s and guarantor’s credit risk.
Morgan Stanley offers Market Linked Principal at Risk securities linked to the Global X Copper Miners ETF due July 15, 2027. Each security has a $1,000 face amount and a pricing date of June 26, 2026. The pricing supplement states an estimated value on the pricing date of approximately $955.00 (plus or minus $25.00). The securities pay a contingent fixed return to be set on the pricing date of at least 23.60% (at least $236 per security) if the ending price is at or above a threshold equal to 75% of the starting price. If the ending price is below the threshold, holders are exposed 1-to-1 to declines in the underlying and may lose more than 25% or their entire investment. Payments are subject to Morgan Stanley credit risk and the securities do not pay interest or dividends. The document discloses commissions, proceeds to issuer, material risks, tax uncertainty, limited secondary-market liquidity and that MS & Co. will act as calculation agent.
Morgan Stanley Finance LLC is offering Enhanced Buffered Jump Securities due October 14, 2027, unsecured notes fully guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and a fixed upside payment of $94 ( 9.40%) payable at maturity only if the final index value is at or above the downside threshold (90% of the initial index value). The securities provide a 10% buffer against index declines; below that buffer investors absorb losses at a downside factor of 1.1111 (about 1.1111% loss for each 1% index decline beyond the buffer). There is no interest and no minimum payment at maturity; investors could lose their entire initial investment. Pricing date is July 10, 2026, original issue date is July 15, 2026, and the issuer estimates the value on the pricing date at approximately $973.50 per security. Sales commissions of $17.50 and a structuring fee of $5 per security are included in the issue price.