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 market-linked notes tied to the Nasdaq-100 Index with an aggregate principal amount of $125,000. The notes have a stated principal amount of $1,000 per note, an original issue price of $1,000 per note and mature on July 3, 2031. At maturity, if the Nasdaq-100 closing level on the observation date exceeds the initial level of 30,276.35, each note will pay the stated principal amount plus a 100% participation in the index appreciation, capped at a maximum payment at maturity of $1,437 per note. If the final level is equal to or less than the initial level, investors receive only the stated principal amount. The notes pay no interest, are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley. The estimated value on the pricing date was $951.50 per note, reflecting issuance, distribution and hedging costs included in the issue price. All payments are subject to the issuer’s credit risk.
Morgan Stanley Finance LLC offers Principal at Risk securities (notes) due August 4, 2027, fully guaranteed by Morgan Stanley, with an aggregate principal amount of $9,182,000. The notes pay a fixed coupon of 10.25% per annum monthly and return principal at maturity only if neither the S&P 500® nor the Russell 2000® falls below its downside threshold on any trading day during the term. If a trigger event occurs and the final level of the worst performing underlier is below its initial level, principal at maturity is reduced pro rata to the percentage decline of that worst performing underlier and could be zero. The notes do not participate in any appreciation of the underliers. The issue price is $1,000 per security and the estimated value on the pricing date was $984.60. All payments are subject to the issuer's and guarantor's credit risk.
Morgan Stanley Finance LLC priced market-linked notes through a June 30, 2026 supplement offering $8,162,000 aggregate principal in five-year, unsecured notes due July 3, 2031. Each $1,000 note pays no interest and returns at least the $1,000 principal at maturity plus a 119.78% participation in any positive basket performance. The basket comprises five international indices (EURO STOXX 50, TPX, FTSE 100, SMI, S&P/ASX 200). Estimated value on the pricing date was $949.60 per note; issue price is $1,000 per note. All payments are subject to Morgan Stanley credit risk and the notes will not be listed on an exchange.
Morgan Stanley Finance LLC priced a $604,000 offering of principal-at-risk structured notes linked to the S&P 500® Index, fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000, an issue price of $1,000, an estimated value on the pricing date of $945.70 and pays no interest.
At maturity on July 3, 2031 (observation date June 30, 2031), payoffs depend on the index level relative to the initial level of 7,499.36: full participation at 100% of appreciation up to a $1,810 maximum, return of principal if final level ≥ the downside threshold of 5,249.552 (70% of initial), or a pro rata loss of principal below that threshold.
Morgan Stanley Finance LLC priced contingent income auto-callable securities linked to the Nasdaq-100® Technology Sector and the Russell 2000® Index. The securities have a $1,000 stated principal amount each, aggregate principal of $2,608,000, and pay a contingent coupon of 12.50% per annum subject to observation-date barriers.
The securities are unsecured obligations of MSFL, fully guaranteed by Morgan Stanley, expose investors to principal loss if the worst-performing underlier falls below a 75% downside threshold, permit automatic early redemption on specified dates, and had an estimated value on the pricing date of $975.60 per security.
Morgan Stanley Finance LLC priced a structured note offering (Trigger PLUS) due July 3, 2031 linked to the worst performing of the Nasdaq-100, Russell 2000 and S&P 500 indices. Each security has a stated principal amount of $1,000 and an issue price of $1,000. The offering aggregates $2,396,000.
At maturity investors receive either (1) principal plus a leveraged upside (400% of the worst underlier's appreciation) subject to a $1,820 cap, (2) principal only if declines stay above a 70% downside threshold, or (3) a loss tied to the worst performing underlier below that 70% threshold (a 1% loss in the underlier produces a 1% loss of principal). All payments are unsecured, subject to MSFL credit risk and guaranteed by Morgan Stanley.
Morgan Stanley Finance LLC is offering Structured Investments Callable Jump Notes due July 3, 2031, fully and unconditionally guaranteed by Morgan Stanley. The offering aggregates $2,253,000 of notes at a per-note issue price of $1,000 with an estimated value on the pricing date of $966.60.
The notes reference the S&P 500® Futures Excess Return Index with an initial level of 600.73 (strike date June 30, 2026) and a single observation date of June 30, 2031. Investors receive principal at maturity and, if the final level is greater than the initial level, an upside payment equal to stated principal amount × 160% participation × underlier percent change. The notes do not pay interest and are unsecured obligations subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC is offering Principal at Risk notes due July 3, 2031 linked to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index. Each security has a $1,000 stated principal amount and an original issue price of $1,000.
The notes pay a contingent coupon of 14.50% per annum on scheduled coupon dates only if the index closing level meets or exceeds the coupon barrier (2,437.533, 70% of the initial level). The notes are automatically called if the index closes at or above the call threshold (3,482.19) on a redemption determination date. At maturity, if not called, investors receive principal only if the final level is at or above the downside threshold (2,089.314, 60%); otherwise payment equals the stated principal multiplied by the performance factor (final level / initial level), exposing investors to up to a total loss of principal. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC is offering structured, market-linked notes due July 5, 2030 that are fully and unconditionally guaranteed by Morgan Stanley. Each note has a stated principal amount of $1,000 and an aggregate principal amount of $594,000. Payment at maturity depends on the worst performing of the Dow Jones Industrial Average and the S&P 500® Index: if the final level of the worst performing underlier is above its initial level, holders receive the stated principal plus an upside payment equal to 100% participation in that underlier’s appreciation, capped at a maximum payment of $1,458.50 per note; if the final level of either underlier is equal to or below its initial level, holders receive only the stated principal. The notes pay no interest, are unsecured senior obligations of MSFL, are not listed, and carry Morgan Stanley credit risk. The estimated value on the pricing date was $975.30 per note and the notes were issued at $1,000 per note (agent proceeds per note $992.50 after a $7.50 fee).
Morgan Stanley Finance LLC is offering principal-at-risk structured securities due July 5, 2030 that are fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and pays a fixed upside payment of $420 (42%) at maturity only if the final level of every underlier is at or above its 70% downside threshold. If the worst performing underlier finishes below its threshold, the payment equals the stated principal amount multiplied by that underlier’s performance factor, so investors may lose some or all of their principal. The securities reference the Dow Jones Industrial Average, Nasdaq-100 and Russell 2000, have an observation date of July 1, 2030 and an original issue price of $1,000 (estimated value on the pricing date: $968.70).
Morgan Stanley Finance LLC is offering Principal at Risk structured notes: contingent income auto-callable securities due July 6, 2028 with a $1,000 stated principal amount per security and an aggregate principal amount of $290,000. The notes pay a contingent coupon of 12.50% per annum on each coupon payment date only if the closing level of each underlying index (Dow Jones Industrial Average, Nasdaq-100® Technology Sector, Russell 2000®) is at or above its coupon barrier on the related observation date. The securities are automatically redeemed early if all underliers meet their call threshold on a redemption determination date; otherwise principal at maturity depends on the worst performing underlier and may result in a loss of principal (downside threshold at 70% of initial levels). All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley and are subject to Morgan Stanley credit risk. The estimated value on the pricing date was $968.80 per security; the issue price is $1,000 (agent commission and structuring fees reduce proceeds).
Morgan Stanley Finance LLC is offering Auto-Callable Trigger PLUS notes with an aggregate principal amount of $34,472,000. The securities are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley, with a stated principal amount of $1,000 per security and an original issue price of $1,000.
The securities pay no interest, can be automatically redeemed on 7/13/2027 for an early redemption payment of $1,097.80 if the S&P 500® Index closes on the first determination date at or above the initial index value of 7,499.36. If not redeemed, maturity is 7/6/2028 with variable payoff formulas tied to the S&P 500® Index, a downside threshold of 5,999.488 (80% of the initial index value), an estimated pricing-date value of $971.60 per security, and all payments are subject to the issuer’s credit risk.
Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable notes due July 3, 2031, fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and was priced at $1,000 with an estimated value of $940.20 on the pricing date. The notes reference the S&P U.S. Equity Momentum 40% VT 4% Decrement Index, pay a contingent coupon at an annual rate of 12.50% only when the underlier is at or above a coupon barrier, and can be automatically redeemed early if the index is at or above the call threshold. At maturity investors receive principal only if the final level is at or above the buffer level (85% of the initial level); otherwise principal is reduced proportionally beyond the 15% buffer, subject to a 15% minimum payment at maturity. Aggregate issuance is $841,000.
Morgan Stanley Finance LLC priced a contingent income auto-callable note offering fully guaranteed by Morgan Stanley. The issue comprises $1,266,000 aggregate principal of $1,000-denominated securities with an original issue price of $1,000 and an estimated value of $982.70 on the pricing date. The securities pay a contingent coupon at an annual rate of 22.30% per annum on observation dates only if each underlier meets coupon barriers and include multiple quarterly redemption determination dates beginning September 30, 2026. Maturity is January 5, 2029. Principal is at risk: if the final level of the worst performing underlier is below its downside threshold (60% of initial), payment at maturity is reduced pro rata and could be zero. All payments are subject to issuer and guarantor credit risk.
The issuer, Morgan Stanley Finance LLC, is offering market-linked notes due July 5, 2030 linked to the EURO STOXX 50® Index. Each note has a $1,000 stated principal amount and a participation rate of 108%; aggregate principal offered is $436,000. At maturity the payment rule is: if the final level > initial level, holders receive principal plus 108% of the underlier’s appreciation; if final level is equal to or less than the initial level, holders receive only the stated principal. The initial level is 6,328.09 (closing level on June 30, 2026). The estimated value on the pricing date is $965.70 per note. All payments are unsecured and subject to Morgan Stanley’s credit risk; the notes are not exchange-listed.
The Dual Directional Trigger PLUS securities are unsecured notes issued by Morgan Stanley Finance LLC and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and matures on July 5, 2030. Payments at maturity are determined by the worst performing of the Nasdaq-100® Technology Sector Index (NDXT) and the Russell 2000® Index (RTY) using the closing levels on the observation date.
Key mechanics: upside pays 138% of appreciation of the worst performing underlier; an absolute return participation pays 50% of the absolute decline (capped effectively at 15%); a downside breach below 70% of the initial level results in pro rata principal loss (1% loss per 1% decline). All payments are subject to the issuer and guarantor credit risk; estimated value on the pricing date was $953.50 per security.
Morgan Stanley Finance LLC priced $1,000 structured notes linked to the EURO STOXX 50® Index that mature on July 16, 2027. Each security has an upside payment of $96.50 (9.65%), a 10% buffer and a downside factor of 1.1111; investors may lose principal if the index closes below the buffer on the observation date.
The offering totals $1,250,000 aggregate principal, the estimated value on pricing date was $985.50 per security, and payments are unsecured obligations of MSFL, fully guaranteed by Morgan Stanley.
Morgan Stanley Finance LLC priced a primary offering of Dual Directional Buffered PLUS notes—principal at risk securities fully and unconditionally guaranteed by Morgan Stanley—linked to the S&P 500® Index with a $1,000 stated principal amount per security and an aggregate principal amount of $3,038,000.
The notes have a 200% leverage factor on upside subject to a $1,113 maximum payoff (111.30% of principal), a 10% buffer (buffer level 6,749.424) and a 10% minimum payment at maturity. Pricing/strike date is June 30, 2026, observation date July 30, 2027 and maturity August 4, 2027. All payments are subject to issuer credit risk and the estimated value on the pricing date was $991.20 per security.
Morgan Stanley Finance LLC is offering Principal at Risk notes linked to the worst performing of the Nasdaq-100 Technology Sector, the Russell 2000 and the S&P 500. The securities have a $1,000 stated principal per security, an issue price of $1,000 and an estimated value on the pricing date of $968.60. They pay a contingent coupon of 11.75% per annum only if the closing level of each underlier meets or exceeds its coupon barrier on observation dates. The notes are automatically callable on specified determination dates if all underliers meet their call thresholds; otherwise, at maturity holders receive principal only if each underlier is at or above its downside threshold, otherwise repayment equals the stated principal multiplied by the performance factor of the worst performing underlier, potentially resulting in substantial loss of principal. All payments are unsecured and subject to Morgan Stanley’s credit risk.
Morgan Stanley priced a $50,000,000 issue of fixed rate notes due September 7, 2027. The notes carry a 4.450% annual fixed interest rate, are issued at $1,000 per note, with original issue date July 7, 2026.
The offering states interest accrues from July 7, 2026 and will be paid at maturity on September 7, 2027. All payments are subject to the credit risk of Morgan Stanley. The pricing supplement also discloses per-note OID accruals totaling $51.9167 as of the end of the final accrual period and refers investors to the accompanying prospectus supplement for tax and legal details.
Morgan Stanley Finance LLC priced structured Auto-Callable Jump Notes with a stated principal amount of $1,000 per note and an aggregate principal amount of $310,000. The notes pay no interest, have automatic early redemption if the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index meets a 95% call threshold on scheduled determination dates, and mature on July 6, 2033. Early redemption payments correspond to a fixed schedule that yields approximately 6.55% per annum on each determination date; if not redeemed and the final level meets the call threshold, maturity pays a fixed positive return, otherwise only the stated principal amount is returned. All payments are unsecured and subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC prices principal-at-risk, buffered jump securities due July 3, 2031. The offering consists of notes with a $1,000 stated principal amount that are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley. The notes have an automatic early redemption feature beginning on July 1, 2027 and provide a fixed early redemption payment schedule that targets approximately 17.00% per annum if a call threshold is met on a determination date. If not called, maturity payoffs depend on the final level of the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index: $1,850 if the final level is at or above the call threshold, $1,000 if at or above the buffer, or a principal exposure below the buffer subject to a 15% buffer and a minimum payment of 15% of principal. All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC is offering structured Jump Notes tied to Accenture plc class A ordinary shares with an aggregate principal amount of $701,000, fully and unconditionally guaranteed by Morgan Stanley. The notes mature on July 6, 2029 and pay no interest.
If the underlier's closing level on the observation date is greater than or equal to the initial level (Initial level $124.44 on June 30, 2026), each $1,000 note will pay the stated principal plus an Upside payment of $360 (36%), otherwise investors receive only the stated principal. The estimated value on the pricing date was $974.30 per note.
Morgan Stanley Finance LLC is issuing $2,177,000 of structured Jump Notes tied to NVIDIA Corporation common stock. Each note has a stated principal amount of $1,000, was priced at $1,000 on June 30, 2026, and matures on July 6, 2029. The notes pay no periodic interest; at maturity investors receive the stated principal plus a fixed upside payment of $314 per note (31.40%) only if the closing final level of the NVIDIA stock on the observation date is greater than or equal to the initial level of $200.09 (the closing level on June 30, 2026). If the final level is below the initial level, investors receive only the stated principal. All payments are unsecured and subject to the issuer’s and guarantor’s credit risk; the notes are not listed and may have limited secondary liquidity.
Morgan Stanley Finance LLC is offering callable structured notes due July 3, 2031 that are fully and unconditionally guaranteed by Morgan Stanley. Each note has a stated principal amount of $1,000 and an aggregate principal amount of $100,000. The notes pay no periodic interest and are linked to the worst performing of the Nasdaq-100® Technology Sector Index, the Russell 2000® Index and the S&P 500® Index, with a 125% participation rate in upside if the worst-performing underlier finishes above its initial level. The issuer may call the notes beginning on the first redemption date of July 7, 2027 if a risk neutral valuation model shows redemption is economically rational; fixed scheduled redemption payments (ranging from $1,122.50 to $1,602.292 per note on listed dates) apply if called. Payments are subject to issuer credit risk and the notes will not be listed on an exchange.
Morgan Stanley Finance LLC offers callable Jump Notes due July 3, 2031, fully guaranteed by Morgan Stanley. The notes are sold at $1,000 per note (aggregate $363,000) with an estimated value of $967.50 on the pricing date. The notes pay no regular interest and are linked to the worst performing of the Russell 2000® Index and the S&P 500® Index.
The notes may be redeemed early beginning on the first redemption date July 7, 2027 if a risk neutral valuation model shows redemption is economically rational; each redemption date has a fixed cash redemption payment that increases over time (for example, $1,120 on July 7, 2027 up to $1,590 on June 4, 2031). If not redeemed, maturity payoff equals stated principal plus an upside payment equal to 115% × underlier percent change of the worst performing underlier if both final levels exceed their initial levels; otherwise you receive only the stated principal. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC priced a structured note offering: Dual Directional Buffered PLUS securities tied to the S&P 500® Index with an aggregate principal amount of $1,049,000 and a stated principal amount of $1,000 per security. The notes mature on July 6, 2029 and are fully and unconditionally guaranteed by Morgan Stanley.
Terms include a 300% leverage factor on upside subject to a maximum payment of $1,307.50 per security, a 10% buffer (initial level 7,499.36; buffer level 6,749.424), and a minimum payment at maturity of 10% of principal. The estimated value on the pricing date was $979.80 per security and all payments are subject to issuer credit risk.
Morgan Stanley Finance LLC is offering Buffered PLUS structured notes fully and unconditionally guaranteed by Morgan Stanley with an aggregate principal amount of $609,000 and a stated principal amount of $1,000 per security. The securities reference the S&P 500® Index, have an observation date of June 30, 2031 and mature on July 3, 2031. The terms include a 125% leverage factor on upside (subject to a maximum payment of $1,664), a 15% buffer (buffer level = 85% of initial level), and a minimum payment at maturity of 15% of principal. The issue price is $1,000 and the estimated value on the pricing date was $977.30. All payments are subject to issuer and guarantor credit risk; investors may lose a significant portion of principal if the underlier falls below the buffer.
Morgan Stanley Finance LLC offers contingent-income, principal-at-risk notes linked to the worst performer of the iShares Silver Trust, the Nasdaq-100 Technology Sector Index and the Russell 2000 Index. The offering is for 169 securities at $1,000 per security (aggregate $169,000), with an original issue price of $1,000 and an estimated value of $968.50 on the pricing date. The notes mature on July 6, 2029, pay a contingent coupon at an annual rate of 9.50% only if all underliers meet coupon barriers on observation dates, and expose holders to a loss of principal if the worst performing underlier finishes below its 50% downside threshold. Automatic early redemption can occur on scheduled redemption dates if each underlier meets its call threshold (100% of initial levels).
Morgan Stanley Finance LLC prices a structured, principal-at-risk note offering totaling $319,000. The securities are unsecured obligations of MSFL, fully guaranteed by Morgan Stanley, with a stated principal amount of $1,000 per security and an estimated value on the pricing date of $975.50 per security.
The notes reference the S&P® 500 Equal Weight Index, have a 125% participation rate, a single automatic early redemption observation on July 7, 2027 (call threshold equal to the initial level of 8,626.64), and a maturity date of July 6, 2029. If not called, maturity payoffs vary: full upside with participation when the final level is above the initial level, return of principal if final level is between 70% and 100% of the initial level, or a proportional loss below 70% (performance factor applies).
Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable notes due July 3, 2031 linked to the worst performing of the S&P 500 Index, the State Street Financial Select Sector SPDR ETF (XLF) and the State Street Technology Select Sector SPDR ETF (XLK). Each security has a stated principal amount of $1,000 and an original issue price of $1,000. The securities pay a contingent coupon of 9.15% per annum on each coupon date only if the closing level of all three underliers on the related observation date is at or above their coupon barrier levels (65% of initial levels). The notes are automatically redeemed early if, on a redemption determination date, all three underliers are at or above their call threshold levels (100% of initial levels). At maturity, if any underlier is below its downside threshold (65% of initial level), the payment equals the stated principal multiplied by the performance factor of the worst performing underlier, which can result in a substantial loss or a zero payment. The pricing date estimated value was $944.90 per security; aggregate principal offered is $868,000. All payments are subject to the credit risk of MSFL and the Morgan Stanley guarantee.
Morgan Stanley Finance LLC priced Principal-at-Risk notes tied to NVIDIA common stock. The securities have a $1,000 stated principal per security and an aggregate principal amount of $3,540,000. If the final level on the observation date is at or above the downside threshold of $120.054 (60% of the initial level), holders receive principal plus a fixed $141.60 upside payment (14.16%). If the final level is below the downside threshold, the payment equals the principal times the performance factor (final level / initial level), exposing investors to loss of principal on a 1% per 1% decline basis; there is no minimum payment. The initial level was $200.09, the observation date is July 30, 2027 and the maturity date is August 4, 2027. The estimated value on the pricing date was $989.00 per security; agent commissions and structuring fees reduce proceeds. All payments are subject to Morgan Stanley Finance LLC and Morgan Stanley credit risk.
Morgan Stanley Finance LLC registers $999,000 aggregate principal of structured notes due August 4, 2027. These Principal at Risk notes reference the worst performing of the Russell 2000 and the S&P 500. Each security has a $1,000 stated principal amount and an $1,000 issue price.
At maturity investors receive either the stated principal plus a fixed upside payment of $130 (a 13% return) if both underliers finish at or above their 85% downside thresholds, or a principal payment equal to the stated principal multiplied by the performance factor of the worst performing underlier, exposing investors to full loss of principal if the worst underlier declines sufficiently. Estimated value on the pricing date was $979.10. Commissions of $15 per security were paid to dealers.
Morgan Stanley Finance LLC priced a primary offering of Dual Directional Buffered PLUS notes linked to the EURO STOXX 50® Index with an aggregate principal amount of $366,000. The securities have a stated principal amount of $1,000 per security and an original issue price of $1,000.
Key economic terms include a leverage factor of 166% for upside, an absolute return participation rate of 50% on limited downside scenarios, a buffer amount of 20% (buffer level 80% of the initial level), and a minimum payment at maturity of 20% of principal. The securities mature on July 3, 2031 and are fully and unconditionally guaranteed by Morgan Stanley. All payments are subject to the issuer’s and guarantor’s credit risk.
Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable Jump Securities due July 6, 2029, linked to the worst performing of the Russell 2000® and the S&P 500®. The issue price is $1,000 per security with an estimated value of $980.90 on the pricing date. The securities pay no interest and can be automatically redeemed on the first determination date for an early redemption payment of $1,167.50 if both underliers meet their call thresholds. At maturity the payoff depends on the worst performing underlier, with a 150% participation rate in upside and a downside threshold of 70% of each initial level; losses can be up to the full principal and are subject to the issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering market-linked notes due July 5, 2030, fully guaranteed by Morgan Stanley, linked to the S&P 500® Futures Excess Return Index. Each note has a $1,000 stated principal amount and a participation rate of 118.25%. At maturity, if the index’s final level exceeds the initial level of 600.73, holders receive the stated principal plus 118.25% of the underlier percent change; if the final level is equal to or less than the initial level, holders receive only the stated principal. The pricing date and strike date are June 30, 2026, original issue date is July 6, 2026, observation date is July 1, 2030 (subject to postponement), and the aggregate principal amount is $1,487,000. The estimated value on the pricing date was $974.40 per note, reflecting issuance, structuring and hedging costs. Payments are unsecured and subject to Morgan Stanley’s credit risk. The notes will not be listed and liquidity may be limited; MS & Co. may act as agent and has conflicts of interest disclosed in the distribution section.
Morgan Stanley Finance LLC is offering principal-at-risk, contingent income auto-callable securities linked to Salesforce, Inc. common stock. Each security has a $1,000 stated principal amount and a contingent coupon that pays only if the underlier meets coupon barrier levels on observation dates. Automatic early redemption may occur if the underlier equals or exceeds the call threshold on specified redemption determination dates. If not redeemed, maturity payout depends on the final level versus a 57% downside threshold; below that threshold investors lose 1% of principal for each 1% decline in the underlier. All payments are subject to Morgan Stanley and MSFL credit risk.
Morgan Stanley Finance LLC priced a contingent income auto-callable note program offering $135,000 aggregate principal across securities with a stated principal amount of $1,000 per security. The notes pay a contingent coupon of 11.25% per annum on observation dates only if each underlier meets coupon barrier levels and may automatically redeem early if all underliers meet call thresholds on a redemption determination date. At maturity investors receive principal only if each underlier is at or above its downside threshold; otherwise payment is reduced by the performance factor of the worst performing underlier, potentially to zero. The securities are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley; all payments remain subject to issuer credit risk.
Morgan Stanley Finance LLC priced a primary offering of Trigger PLUS principal-at-risk securities with an aggregate principal amount of $779,000, $1,000 per security, fully and unconditionally guaranteed by Morgan Stanley. The securities mature on July 5, 2030 and are linked to the worst performing of the Dow Jones Industrial Average and the S&P 500® Index.
At maturity the payoff is determined by the worst performing underlier: investors receive the stated principal plus a 131% leverage factor on appreciation if the worst performing underlier finishes above its initial level; receive only principal if the worst performing underlier finishes between its initial level and its 70% downside threshold; and lose principal on a one‑for‑one basis below the downside threshold (potentially losing the entire investment). The estimated value on the pricing date was $976.10 per security.
Morgan Stanley Finance LLC priced Principal at Risk securities linked to the S&P 500® Index. The securities have a $1,000 stated principal amount, an issue price of $1,000 per security and aggregate principal of $1,299,000. At maturity investors receive either the stated principal plus the greater of a $200 upside payment or the underlier percent change (capped at a $1,800 maximum), provided the final level is at or above the downside threshold of 5,999.488 (80% of the initial level). If the final level is below that threshold, holders lose 1% for each 1% decline in the underlier and may lose their entire investment. The securities are unsecured obligations of MSFL and are fully guaranteed by Morgan Stanley; all payments are subject to issuer credit risk. The estimated value on the pricing date was $955.60 per security and selected dealers receive a $30 commission per security.
Morgan Stanley Finance LLC priced contingent income, memory auto-callable securities linked to the S&P 500® Index with a $1,000 stated principal amount per security and $400,000 aggregate principal. The securities pay an 8.96% per annum contingent coupon on observation dates if the index is at or above an 80% coupon barrier, feature automatic early redemption if the index is at or above the 100% call threshold on any redemption determination date, and return principal at maturity only if the final level is at or above the 80% downside threshold; otherwise investors suffer proportional principal loss. The issue date is July 6, 2026 and maturity is August 4, 2027. Payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley and are subject to Morgan Stanley credit risk. The estimated value on the pricing date was $985.40 per security and the issue price was $1,000 (agent commission $10.42).
Morgan Stanley Finance LLC is offering Structured Investments — Buffered Jump Securities with an Auto-Callable feature linked to the Nasdaq-100 Index. The offering totals $250,000 aggregate principal at $1,000 per security with an original issue price of $1,000 and an estimated value of $960.90 on the pricing date.
The notes can be automatically redeemed on scheduled determination dates if the index closing level is at or above the call threshold (initial level 30,276.35); early redemption payments correspond to fixed cash amounts that imply ~9.55% per annum. At maturity investors receive either a fixed positive payment, return of principal, or a reduced payment that absorbs losses beyond a 10% buffer, with a minimum payment of 10% of principal. All payments are subject to issuer and guarantor credit risk and secondary market liquidity may be limited.
Morgan Stanley Finance LLC priced an auto-callable, principal-at-risk security due July 3, 2029, fully and unconditionally guaranteed by Morgan Stanley. Each security has a face amount of $1,000 and a current estimated value of $964.50 per security as of the pricing date of June 30, 2026. The securities pay a contingent coupon of 10.20% per annum monthly only if the lowest performing underlying on a monthly calculation day is at or above its coupon threshold (65% of its starting level). Beginning about six months after issue, the notes may be automatically called if each underlying on a calculation day is at or above its starting level. At maturity, if not called, holders receive $1,000 or an amount equal to $1,000 × the performance factor of the lowest performing underlying; a decline below its downside threshold (60% of starting level) exposes investors to losses greater than 40%, possibly total loss. Payments are subject to issuer credit risk and limited secondary market liquidity.
Morgan Stanley Finance LLC is offering market-linked, auto-callable principal-at-risk securities due July 6, 2029, fully guaranteed by Morgan Stanley. The securities have a face amount of $1,000 per security and a participation rate of 400% in the positive performance of the lowest performing underlying stock.
The price to public is $1,000 per security, the estimated value on the pricing date is $943.00 per security, and proceeds to the issuer are $974.25 per security. The product is linked to the lowest performing of Alibaba (ADS), IBM and Blackstone, includes a call feature on July 6, 2027 with a fixed call payment of $1,483, and contains threshold prices equal to 50% of each starting price that trigger full downside exposure.
Morgan Stanley Finance LLC priced principal-at-risk structured notes due July 5, 2030 linked to the worst performing of the Dow Jones Industrial Average, Nasdaq-100 and Russell 2000. The offering size is $369,000 aggregate (stated principal $1,000 per security) with an original issue price of $1,000 and an estimated value on the pricing date of $979.90 per security. Payment at maturity depends solely on the final closing levels on the observation date: investors receive principal plus an upside payment of $595 if the worst performing underlier is flat or up, receive only principal if declines remain above the 70% downside thresholds, or suffer proportional losses (potentially to zero) if the worst performing underlier falls below its downside threshold.
Morgan Stanley Finance LLC priced Principal-at-Risk Structured Investments linked to the worst performing of the Nasdaq-100 and S&P 500. The securities have a $1,000 stated principal amount, issue price of $1,000 and an aggregate principal amount of $3,115,000. The strike and pricing date are June 30, 2026, original issue date July 6, 2026, observation date September 30, 2027 and maturity date October 5, 2027. Payments at maturity depend on the worst performing underlier: upside participation is 100% subject to a maximum upside payment of $1,151.50 (115.15%); an absolute-return feature applies when the worst performer is down but at or above an 80% buffer level; losses apply 1% for each 1% decline beyond the 20% buffer, with a minimum payment of 20% of principal. Estimated value on the pricing date was $988.50 per security. All payments are subject to issuer and guarantor credit risk and the securities do not pay interest.
Morgan Stanley Finance LLC is offering structured, auto-callable Jump Notes due July 3, 2031, fully guaranteed by Morgan Stanley, with an aggregate principal amount of $100,000 and a per‑note issue price of $1,000. The notes pay no interest, carry a 100% participation in positive index performance, and may be automatically redeemed early on specified annual determination dates if the Morgan Stanley Amplitude index reaches or exceeds a call threshold; fixed early redemption payments provide returns of roughly 12.00% per annum on the applicable dates.
The notes include issuer credit risk, are unsecured, not exchange-listed, and have an estimated value on the pricing date of $948.70 per note. Tax treatment is as contingent payment debt instruments with a comparable yield of 4.8022% per annum. Further terms and index methodology are described in the annex and accompanying supplements.
Morgan Stanley Finance LLC priced contingent income auto-callable securities 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). The securities have a $1,000 stated principal amount, an issue price of $1,000 and aggregate principal of $746,000. They pay a contingent coupon at an annual rate of 8.50% on each interest period only if both underliers close at or above their coupon barrier levels on the related observation dates, and are subject to automatic early redemption if both underliers meet their call thresholds on a redemption determination date. At maturity, investors receive principal only if both final levels are at or above the downside thresholds (65% of initial levels); otherwise payment equals the stated principal multiplied by the performance factor of the worst performing underlier and could be significantly less or zero. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC priced a $1,725,000 offering of Trigger PLUS principal-at-risk securities due July 5, 2030, fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and was issued at $1,000 per security with an estimated value on the pricing date of $983.20.
The notes track the S&P 500® Futures Excess Return Index with an initial level of 600.73 (strike date June 30, 2026) and a downside threshold at 420.511 (70% of the initial level). The securities pay stated principal + 202%×index return if the final level is greater than the initial level, return principal if the final level is between the downside threshold and the initial level, and expose investors to full downside below the threshold (1% loss per 1% index decline).
Morgan Stanley Finance LLC priced market-linked notes — MSFL is issuing market-linked notes due July 3, 2031, fully guaranteed by Morgan Stanley, with an aggregate principal amount of $1,899,000 and a stated principal amount of $1,000 per note.
Payments at maturity depend solely on the closing level of the S&P 500® Futures Excess Return Index on the observation date; if the final level exceeds the initial level of 600.73, investors receive principal plus an upside payment equal to the stated principal amount × a 141.50% participation rate × the index percent change. The notes pay no interest, are unsecured and will not be listed on any exchange.