Every 424B that Morgan Stanley (MS) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow MS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MS filings page.
Morgan Stanley Finance LLC priced a contingent income, principal-at-risk note linked to the worst performing of the EURO STOXX 50®, Russell 2000® and S&P 500®, with a stated principal amount of $1,000 per security and an aggregate offering of $710,000. The notes carry a contingent annual coupon of 7.75% payable only if each underlier meets its coupon barrier on observation dates, an automatic early redemption feature tied to call thresholds equal to initial levels, and a downside threshold at 60% of initial levels that can cause full or partial loss of principal at maturity. The estimated value on pricing date was $984.30 per security; all payments are subject to MSFL and Morgan Stanley credit risk.
Morgan Stanley Finance LLC is offering Enhanced Trigger Jump Securities, unsecured notes due November 4, 2027, fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and pays a fixed $136.50 upside payment at maturity only if the final closing values of both the Russell 2000® and the S&P 500® are at least 80% of their respective initial index values. If either index finishes below its 80 downside threshold, the maturity payment is $1,000 × (final/initial) of the worst performing index, which can produce losses greater than 20 and may result in a total loss of principal. The pricing date was June 30, 2026, original issue date July 6, 2026, aggregate principal amount $9,768,000, and the underwriter-estimated value on the pricing date was $974.50 per security.
Morgan Stanley Finance LLC is offering structured, principal-at-risk notes called Buffered Jump Securities with an auto-callable feature, fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and may automatically redeem on the first determination date for an $1,139 early redemption payment if the underlier meets the call threshold.
If not called, final payout depends on the S&P 500® Futures Excess Return Index performance: investors receive principal plus upside at a 125% participation rate if the final level exceeds the initial level; if the final level is ≥ the 85% buffer of the initial level, investors receive the principal; if below the buffer, losses accrue 1% per 1% below the buffer, subject to a 15% minimum payment.
Morgan Stanley Finance LLC is offering structured contingent-income, auto-callable notes due July 13, 2029 that are fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and an original issue price of $1,000. The securities pay a contingent coupon at an annual rate of 8.20% on coupon payment dates only if the closing level of each underlier meets or exceeds its coupon barrier level on the related observation date. The securities reference three underliers (EURO STOXX 50, Russell 2000 and the State Street Utilities Select Sector SPDR ETF) and are linked to the worst performing underlier; coupon and principal protection depend on per-underlier barriers set at 100% (call threshold) for early redemption and 60% (coupon barrier and downside threshold) for coupon/payment tests, each measured from initial levels fixed on the strike date of July 10, 2026. The securities may automatically redeem on specified monthly redemption determination dates beginning January 11, 2027. If not redeemed and the final level of any underlier is below its downside threshold, payment at maturity will equal the stated principal multiplied by the performance factor of the worst performing underlier and could be significantly less than, or equal to, zero. All payments are subject to Morgan Stanley credit risk; the estimated value on the pricing date was approximately $980.40 per security.
Morgan Stanley Finance LLC is offering Principal at Risk auto-callable securities linked to Blackstone Inc. common stock with a stated principal amount of $1,000 per security. The securities pay a contingent coupon at an annual rate of 15.50% on observation dates when the closing level is at or above the coupon barrier (60% of the initial level). The notes can be automatically redeemed on specified redemption determination dates for the stated principal plus the contingent coupon if the closing level meets or exceeds the call threshold (100% of the initial level). If not redeemed, maturity is July 13, 2029; if the final level is below the downside threshold (60% of the initial level), payment at maturity equals the stated principal multiplied by the performance factor (final level/initial level), exposing investors to potential loss of principal, possibly to zero. All payments are subject to the issuer’s and guarantor’s credit risk. The preliminary pricing indicates an estimated value on the pricing date of approximately $965.40 per security.
Morgan Stanley Finance LLC is offering Dual Directional Trigger Jump Securities due July 23, 2031, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an upside payment of $448.10 (44.81%). The securities pay no interest and expose holders to credit risk of the issuer and guarantor.
At maturity the payoff depends on the final basket value versus an initial basket value (initial = 100) and a trigger level of 75 (75% of initial). If the basket appreciates you receive $1,000 plus the greater of (i) $1,000 × basket percent change or (ii) the upside payment. If the basket declines but is ≥ trigger, you receive a positive return equal to the absolute percentage decline (capped at 25%). If the basket declines below the trigger, you suffer a 1:1 exposure to the decline, potentially losing all principal. Pricing date: July 17, 2026; original issue date: July 23, 2026.
Morgan Stanley Finance LLC is offering structured, principal‑at‑risk notes—Enhanced Buffered Jump Securities—linked to the Nasdaq-100 Index with a $1,000 stated principal per security and an aggregate principal of $500,000. The notes pay no interest and are fully guaranteed by Morgan Stanley.
At maturity on July 15, 2027, if the Nasdaq-100 closing level on the observation date is at or above the buffer level, holders receive the stated principal plus a fixed $107.60 upside payment (10.76%). If the final level is below the buffer level (15% below the initial level), holders incur losses equal to 1.1765% of principal for each 1% decline beyond the buffer and could lose their entire investment. Estimated value on the pricing date was $986.80 per security. All payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is offering structured, principal-at-risk buffered jump securities due July 6, 2029, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and may be automatically redeemed on the first determination date for an early redemption payment of $1,120. If not redeemed, maturity payoffs depend on the basket underlier: upside is paid at a 125% participation rate when the final level is above the initial level, the principal is returned if the final level is at or above the 90% buffer level, and investors absorb losses 1% for each 1% decline beyond the buffer (subject to a 10% minimum payment at maturity). All payments are subject to the issuer’s and guarantor’s credit risk. The pricing date and strike date are June 30, 2026, original issue date July 6, 2026, aggregate principal amount offered $717,000, and the estimated value on the pricing date was $961.70 per security.
Morgan Stanley Finance LLC prices market-linked notes linked to the S&P 500® Index. The offering is for $1,589,000 aggregate principal (1,589 notes) at a $1,000 stated principal amount per note; issue price equals stated principal and the estimated value on the pricing date was $980.70 per note.
Each note pays no interest, participates 100% in positive index performance between the initial level of 7,499.36 (strike date June 30, 2026) and the observation date, subject to a maximum payment of $1,227.50 (122.75% of principal) at maturity on July 6, 2029. Payments depend on MSFL/Morgan Stanley credit and are unsecured.
Morgan Stanley Finance LLC is offering structured, variable‑coupon Auto‑Callable Notes due July 15, 2031, fully and unconditionally guaranteed by Morgan Stanley. Each note has a $1,000 stated principal amount and a variable monthly coupon that will be either 12.50% (higher) or 0.25% (lower) depending on observation‑date performance of three specified stocks: Palantir Technologies Inc., Micron Technology, Inc., and Oracle Corporation. The notes pay the higher coupon for an interest period only if the closing level of each underlier on the related observation date is at or above its coupon barrier (set at 74% of the initial level); otherwise the lower coupon applies. The notes are automatically redeemed early if, on any redemption determination date (first such date: July 12, 2027), the closing level of each underlier is at or above its call threshold (100% of initial level), in which case holders receive the stated principal plus the higher coupon for that period. The issuer estimates the value on the pricing date at approximately $925.40 per note and the original issue price is $1,000 per note. All payments are subject to the credit risk of Morgan Stanley and the notes will not be listed on any exchange.
Morgan Stanley Finance LLC priced principal‑at‑risk notes linked to MP Materials Corp. common stock. Each security has a $1,000 stated principal amount, an issue price of $1,000 and an estimated value on the pricing date of $980.10. If the final level on the observation date is at or above the downside threshold (65% of the initial level), holders receive the $1,000 stated principal plus a fixed $358.90 upside payment. If the final level is below the downside threshold, holders suffer losses pro rata (1% loss in principal per 1% decline in the underlier), with no minimum payment at maturity. Payments depend on MSFL's credit and are fully guaranteed by Morgan Stanley; secondary market liquidity and tax treatment are discussed in the supplement.
Morgan Stanley Finance LLC is offering contingent income auto-callable securities due January 6, 2028 that are unsecured obligations of MSFL and fully and unconditionally guaranteed by Morgan Stanley. The securities have a $1,000 stated principal amount and an aggregate principal amount of $1,216,000.
They pay a contingent coupon at an annual rate of 12.00% per annum only when the closing level of each underlier meets or exceeds specified coupon barrier levels on observation dates. The notes are automatically redeemed early if all underliers meet their call threshold on a redemption determination date. At maturity, if any underlier is below its downside threshold (60% of initial level), the payment equals the stated principal multiplied by the worst-performing underlier’s performance factor, risking loss of principal. Estimated value on the pricing date: $969.90 per security. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC priced Enhanced Trigger Jump Securities tied to the S&P 500® (guaranteed by Morgan Stanley). Each security has a $1,000 stated principal amount with an $200 upside payment and a $1,853 maximum payment at maturity. The pricing and strike dates are July 16, 2026, original issue date July 21, 2026, and maturity July 21, 2031. The securities pay no interest and expose investors to full credit risk of Morgan Stanley; if the final level is below the downside threshold (set at 80% of the initial level), principal losses occur on a 1:1 percentage basis. The estimated value on the pricing date is approximately $955.80 per security; the agent receives a $30 sales commission, leaving proceeds of $970 per security to the issuer.
Morgan Stanley Finance LLC is offering Callable Contingent Income Securities due July 13, 2029, fully and unconditionally guaranteed by Morgan Stanley.
The securities pay a contingent coupon of 9.60% per annum only if each underlier closes at or above its coupon barrier on observation dates, are callable by MSFL using a risk neutral valuation model starting January 14, 2027, and return principal at maturity only if each underlier is at or above its downside threshold; otherwise payoff at maturity equals the stated principal multiplied by the worst performing underlier’s performance factor, exposing investors to full principal loss. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering structured, principal‑protected jump notes linked to Amphenol Corporation class A common stock. Each note has a $1,000 stated principal amount, an upfront estimated value of approximately $977, an upside payment of $324 per note (32.40%) if the underlier's closing level on the observation date is greater than or equal to the initial level, a strike/pricing date of July 31, 2026, and a maturity date of August 3, 2029. Purchasers receive only the stated principal at maturity if the final level is below the initial level. All payments are subject to the issuer’s and guarantor’s credit risk; the notes are unsecured, non‑listed, and do not pay periodic interest.
Morgan Stanley Finance LLC offers Market Linked Securities—auto‑callable, principal‑at‑risk notes linked to the iShares® Ethereum Trust ETF due July 6, 2029. The offering sells securities with a face amount of $1,000 per security at a price to public of $1,000, aggregating $498,000 in this issuance.
The securities carry a 150% participation rate in positive fund returns at maturity, an automatic call feature with a fixed call payment of $1,320 on the call date, an estimated value at issuance of $946.20 per security, and full downside exposure below a threshold price of $5.945 (50% of the starting price).
Morgan Stanley Finance LLC is offering Contingent Income Auto-Callable Securities due July 7, 2028, linked to CoreWeave, Inc. class A common stock. The securities pay a contingent quarterly coupon at an annual rate of 31.00% only if the determination closing price is at or above a downside threshold equal to 50% of the initial share price.
Each security has a stated principal amount of $1,000, an original issue date of July 8, 2026, and a pricing date of July 2, 2026. If automatically redeemed after the six-month non-call period or if the final share price is at or above the downside threshold, holders receive principal plus any contingent coupons; if the final share price is below the downside threshold, holders bear a 1-to-1 exposure to the stock decline and may lose most or all principal. Estimated value on the pricing date is approximately $944.30. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering Principal at Risk structured notes due July 3, 2031 tied to the worst performing of the Dow Jones Industrial Average, Nasdaq-100 and Russell 2000. The stated principal amount is $1,000 per security and the aggregate offering is $375,000. The securities pay no interest; at maturity investors receive the stated principal plus the greater of the underlier percent change on the worst performing underlier or an $462.50 upside payment if all underliers finish at or above their downside thresholds. Downside protection is limited: each underlier’s downside threshold is 70% of its initial level and losses are 1% for each 1% decline of the worst performing underlier, with no minimum payment. Estimated value on the pricing date was $965.30 per security and the price to public is $1,000 with agent fees of $7.50 per security; all payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC priced $394,000 aggregate of Principal-at-Risk securities fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and matures on July 3, 2031. The payoff depends on the S&P 500® Futures Excess Return Index performance on the observation date.
At maturity investors receive: the stated principal plus the greater of (i) index percent change or (ii) a fixed $530 upside payment if the final level ≥ initial level; a positive absolute-return payoff (capped at 20%) if the final level is between the buffer (480.584) and initial level (600.73); or a loss beyond the 20% buffer, subject to a minimum payment of 20% of principal.
Morgan Stanley Finance LLC priced structured, principal-at-risk notes linked to the worst performing of the EURO STOXX 50®, Nasdaq-100® and S&P 500® with automatic early redemption and a $1,000 stated principal amount per security. The offer aggregates $1,214,000. The securities may auto-redeem on annual determination dates beginning July 1, 2027 for fixed early redemption payments (first: $1,136.50), and mature on July 3, 2031. If not redeemed, payment at maturity depends on whether each underlier meets call or downside thresholds (70% downside). All payments are unsecured and subject to Morgan Stanley credit risk; estimated value on the pricing date was $954.90 per security.
Morgan Stanley Finance LLC is offering Principal at Risk structured notes due September 3, 2027, fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and a fixed $131 upside payment (13.10%) if the worst performing underlier is at or above its downside threshold on the observation date.
Payments at maturity are determined by the worst performing of the Russell 2000® Index and the S&P 500® Index measured on the observation date August 31, 2027. If the worst performing underlier finishes below its downside threshold (85% of its initial level), holders lose 1% of principal for each 1% decline in that underlier; there is no minimum payment. The document states an estimated value of $972.60 on the pricing date July 31, 2026.
Morgan Stanley Finance LLC offers market-linked, auto-callable principal-at-risk securities linked to the lowest-performing share of NVIDIA Corporation and Micron Technology, Inc. Each security has a face amount of $1,000, an illustrative call payment of $1,450 (≈45% call premium) and a 200% participation rate for positive performance of the lowest-performing underlying stock. The pricing date is July 15, 2026 and the original issue date is July 20, 2026. The issuer estimates the value on the pricing date at $940.70 per security (± $40.70). If not called, maturity is July 19, 2029, and downside exposure can exceed 40%, potentially resulting in total loss.
Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable structured notes due July 12, 2029, fully and unconditionally guaranteed by Morgan Stanley. The securities have a $1,000 stated principal amount and may automatically redeem on specified determination dates for fixed cash payments. If not redeemed, maturity payoff depends on the worst-performing of the Dow Jones Industrial Average, Nasdaq-100 and Russell 2000 relative to call and downside thresholds. Call threshold levels equal 100% of initial levels and downside thresholds equal 70% of initial levels. If the worst-performing underlier finishes below its downside threshold, investors lose 1% of principal for each 1% decline; payments could be significantly less than principal or zero. All payments are subject to Morgan Stanley’s credit risk; estimated value on the pricing date was approximately $959.90 per security.
Morgan Stanley Finance LLC is offering structured, market-linked notes due July 10, 2031, fully and unconditionally guaranteed by Morgan Stanley. Each note has a $1,000 stated principal amount and pays no interest. At maturity investors receive the stated principal plus an upside payment only if the underlier’s final level exceeds the initial level; otherwise holders receive only the stated principal.
The underlier is a 10-component equity basket (each component weighted 10%). The participation rate is 112%, so the upside payment equals stated principal × participation rate × underlier percent change. Key dates: strike/pricing July 6, 2026, issue July 9, 2026, observation July 7, 2031. Estimated value on the pricing date was $944.60 per note (approximately).
Morgan Stanley Finance LLC is offering Buffered PLUS principal-at-risk securities due July 14, 2027, fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and an estimated value on the pricing date of approximately $983.50. The securities link to the Invesco S&P 500® Equal Weight ETF with a leverage factor of 150%, a buffer amount of 10% and a maximum payment at maturity of $1,102 per security (110.20% of stated principal). Observation date is July 9, 2027 (subject to postponement) and the strike/pricing date is July 8, 2026. Payments at maturity depend solely on the closing level on the observation date: investors may receive the stated principal plus a leveraged upside (capped), the stated principal, or a reduced payment if the final level is below the buffer; the minimum payment at maturity is 10% of stated principal. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering structured, principal‑at‑risk notes tied to Micron Technology, Inc. The notes have a $1,000 stated principal amount, priced at $1,000 with an estimated value of approximately $982 on the pricing date. The securities mature on August 5, 2027 and pay a fixed upside payment of $444.90 (44.49%) if the final level on the observation date is at or above a downside threshold of $516.14 (50% of the initial level). If the final level is below the threshold, investors suffer a dollar‑for‑dollar loss versus the underlying (performance factor = final level / initial level), and the payment at maturity could be significantly less than principal or zero. All payments are subject to Morgan Stanley and MSFL credit risk; MS & Co. is the calculation agent and agent for distribution. The offering includes placement fees of up to $10.42 per $1,000 and discloses tax and liquidity considerations in the accompanying supplements.
Morgan Stanley Finance LLC priced Principal at Risk securities linked to Micron Technology, Inc. Each note has a $1,000 stated principal amount and an issue price of $1,000. The securities pay no interest and are fully guaranteed by Morgan Stanley. If the closing level of Micron on the observation date July 14, 2027 is at or above the downside threshold of $619.368 (60% of the initial level), holders receive principal plus a fixed $536.20 upside payment. If the final level is below that threshold, holders receive the stated principal multiplied by the performance factor (final level/initial level) and may lose up to their entire investment. Estimated value on pricing date was approximately $982.00 per security; all payments remain subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC priced Principal‑at‑Risk securities linked to the S&P 500® Index. Each note has a $1,000 stated principal amount, an $80 upside payment (8%) if the final level is at or above the downside threshold, and a downside exposure equal to the index performance with a 75% downside threshold. The pricing date was July 2, 2026, the observation date is August 2, 2027, and maturity is August 5, 2027. The estimated value on the pricing date was approximately $987.30 per security; all payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC priced a series of principal‑at‑risk notes due August 5, 2027 linked to the S&P 500® Index in a preliminary pricing supplement dated July 2, 2026. Each security has a stated principal amount of $1,000 and an upside payment of $87.60 (8.76%) if the final level is greater than or equal to the downside threshold.
If the final level is below the downside threshold (80% of the initial level, or 5,986.584), the payment equals the stated principal amount multiplied by the performance factor (final level/initial level), exposing investors to a 1% loss for each 1% decline in the underlier; there is no minimum payment and principal could be lost. The strike date was July 1, 2026, the pricing date was July 2, 2026, the observation date is August 2, 2027, and the initial level was 7,483.23. The original issue price is $1,000 and the estimated value on the pricing date was approximately $985.50. All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley; market and credit risks, tax treatment uncertainty, and potential conflicts of interest are disclosed.
Morgan Stanley is offering fixed rate notes due July 20, 2032 with a stated interest rate of 4.700% per annum and a stated principal and issue price of $1,000 per note. Interest accrues from July 20, 2026 and is payable semi‑annually on the 20th of January and July, beginning January 20, 2027. The preliminary pricing supplement states an estimated value on the pricing date of approximately $982.40 per note. Payments depend on Morgan Stanley’s creditworthiness and the notes will not be listed on any securities exchange. Proceeds are for general corporate purposes and the offering includes customary dealer compensation and hedging arrangements by Morgan Stanley affiliates.
Morgan Stanley is offering fixed rate notes due July 19, 2030 with a stated principal and issue price of $1,000 per note and an interest rate of 4.500% per annum payable semi‑annually. The notes accrue interest from July 20, 2026 and make the initial interest payment on January 19, 2027. Morgan Stanley states the estimated value on the pricing date is approximately $988.80 per note. All payments are subject to Morgan Stanley’s credit risk and the notes will not be listed on any securities exchange.
Morgan Stanley priced a preliminary offering of fixed rate notes due July 20, 2029. Each note has a $1,000 stated principal amount and an issue price of $1,000 per note. Interest accrues from July 20, 2026 at 4.40% per annum, paid semi‑annually on January 20 and July 20, beginning January 20, 2027. The estimated value on the pricing date is approximately $990.50 per note. All payments are subject to Morgan Stanley's credit risk and the notes will not be listed on any exchange; proceeds are for general corporate purposes.
Morgan Stanley Finance LLC is offering S&P 500® Index-linked, principal-at-risk notes that are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley. Each note has a $1,000 Face Amount; the estimated trade-date value is $984.40. The notes pay no interest and return at maturity is tied to the S&P 500 Index performance from the Trade Date to the Determination Date (expected between 14 and 16 months after the Trade Date). If the Final Underlier Level is ≥90% of the Initial Underlier Level, holders receive a capped Maximum Settlement Amount (expected between $1,096.90 and $1,113.70 per $1,000). If the Final Underlier Level is below 90% of the Initial Underlier Level, holders suffer downside proportionate to that decline (you could lose some or all principal). All payments are subject to Morgan Stanley credit risk and there is no exchange listing or guaranteed secondary market.
Morgan Stanley proposes a primary offering of fixed rate notes due July 20, 2033 with a stated principal and issue price of $1,000 per note and a fixed interest rate of 4.800% per annum. Interest accrues from July 20, 2026 and is payable semi‑annually on each January 20 and July 20, beginning January 20, 2027. Payments are subject to Morgan Stanley’s credit risk and the notes will not be listed on any exchange. The preliminary pricing supplement states an estimated value on the pricing date of approximately $980.20 per note. Proceeds are to be used for general corporate purposes and detailed selling commissions and final pricing will be set forth in the final pricing supplement.
Morgan Stanley is offering Fixed Rate Notes due July 18, 2031 with a stated principal and issue price of $1,000 per note. The notes pay interest at 4.60% per annum, payable semi-annually, with an original issue date of July 20, 2026. The preliminary pricing supplement states the estimated value on the pricing date is approximately $985.20 per note (within $45.20 of that estimate). Proceeds will be used for general corporate purposes. All payments are subject to Morgan Stanley’s credit risk; the notes will not be listed and are book-entry only.
Morgan Stanley Finance LLC is offering fixed rate callable notes due July 20, 2033, fully guaranteed by Morgan Stanley. Each note has a stated principal of $1,000 and a fixed interest rate of 4.90% per annum, payable semiannually. The issuer may redeem the notes on specified redemption dates if a risk neutral valuation model determination finds redemption economically rational; redemption price is 100% of principal plus accrued interest. The preliminary pricing shows an estimated value on the pricing date of $968.10 (within $48.10 of that estimate). Proceeds will be used for general corporate purposes. The notes will not be listed on any exchange and are subject to the issuer's credit risk.
Morgan Stanley Finance LLC priced a offering of fixed-rate callable notes due July 18, 2031 with a stated principal of $1,000 per note and an interest rate of 4.70% per annum. The notes are fully and unconditionally guaranteed by Morgan Stanley and are callable on July 18, 2027 and January 18, 2028 based on a risk neutral valuation model determination. The issuer estimates the value on the pricing date to be approximately $976.30 per note and states proceeds will be used for general corporate purposes.
Morgan Stanley Finance LLC priced a series of Fixed Rate Callable Notes due July 19, 2030, fully and unconditionally guaranteed by Morgan Stanley. The notes pay 4.550% per annum on a $1,000 per note stated principal amount, accrue from July 20, 2026, and pay semiannually beginning January 19, 2027. The notes include an issuer call that triggers only if a risk neutral valuation model determined on a calculation date finds redemption economically rational; redemption prices equal 100% of principal plus accrued interest. The issuer estimates an initial value of approximately $979.90 per note. All payments are subject to Morgan Stanleys credit risk.
Morgan Stanley Finance LLC is offering fixed-rate callable notes due July 20, 2032 that are fully and unconditionally guaranteed by Morgan Stanley. Each note has a stated principal amount of $1,000, pays interest at 4.800% per annum semiannually, and the issuer may redeem all notes on specified call dates if a risk neutral valuation model indicates redemption is economically rational. Estimated value on the pricing date is approximately $971.90 per note. Proceeds will be used for general corporate purposes. The notes are book-entry only, will not be listed on any exchange, and are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC priced structured notes — principal-at-risk securities linked to the S&P 500® Index with a $1,000 stated principal per security. The securities pay no interest; at maturity on July 19, 2027 investors receive $1,000 plus a fixed upside payment of $79.70 if the final level is at or above the downside threshold. If the final level is below the downside threshold (5,612.423, equal to 75% of the initial level 7,483.23), holders receive the stated principal multiplied by the performance factor (final level/initial level) and may lose up to 100% of principal. The original issue price is $1,000 and Morgan Stanley estimates the securities' value at approximately $990.80 on the pricing date. All payments are subject to Morgan Stanley's credit risk; investors bear issuance, structuring and hedging costs included in the issue price and should consult the accompanying supplements and tax discussion.
The Morgan Stanley Finance LLC Buffered Securities are principal‑at‑risk notes due July 6, 2032, fully guaranteed by Morgan Stanley and linked to the Russell 2000® Index. Each $1,000 note has a 12% buffer (minimum $120 at maturity), a capped upside (maximum $1,643.50), no coupon, and an estimated value on the pricing date of approximately $973.50. Initial averaging occurs ~July 1–September 29, 2026; final averaging occurs ~April 1–June 30, 2032. Payments depend on arithmetic averages of index closing values and are subject to issuer credit risk, limited liquidity, model valuation assumptions, and tax and market‑specific risks.
Morgan Stanley Finance LLC priced principal-at-risk notes tied to the Global X Copper Miners ETF with a stated principal of $1,000 per security and an original issue price of $1,000 per security. The notes can be automatically redeemed on the first determination date for an early redemption payment of $1,350 per security if the underlier is at or above the call threshold. If not redeemed, maturity payoffs depend on the final level versus an 15% buffer and apply a downside factor of 1.1765 to losses beyond the buffer. The documents state an estimated value of approximately $970.40 on the pricing date and note all payments are subject to the issuer’s and guarantor’s credit risk.
Morgan Stanley Finance LLC priced Structured Investments Enhanced Trigger Jump Securities due August 5, 2027, principal at risk notes linked to the S&P 500® Index. The stated principal amount is $1,000 per security with an upside payment of $98.10 (9.81%) if the final level is at or above the downside threshold. The initial level is 7,483.23 (strike date July 1, 2026) and the downside threshold is 6,360.746 (85% of the initial level). If the final level is below that threshold, the payment equals the stated principal multiplied by the performance factor (final level/initial level), which can result in a substantial loss or zero recovery at maturity. The pricing date was July 2, 2026, original issue date July 7, 2026, observation date August 2, 2027 and maturity August 5, 2027. The estimated value on the pricing date was approximately $985.40 per security and the issue price is $1,000, reflecting issuance, structuring and hedging costs.
Morgan Stanley Finance LLC priced a series of principal-at-risk, contingent income auto-callable securities linked to the common stock of Micron Technology, Inc. The securities have a $1,000 stated principal per security, a pricing date of July 2, 2026, a strike date of July 1, 2026, and mature on July 19, 2027. The securities pay a contingent coupon only if the closing level of the underlier meets the coupon barrier on observation dates, feature automatic early redemption if the underlier meets the call threshold on redemption determination dates, and expose investors to full downside risk (losses proportionate to underlier decline below the 50% downside threshold).
All payments are subject to the issuer’s and guarantor’s credit risk; the estimated value on the pricing date was approximately $980.60 per security versus the $1,000 issue price. The offering documents contain detailed tax and risk disclosures, including tax uncertainty for U.S. and non-U.S. holders.
Morgan Stanley Finance LLC is offering auto-callable, principal-at-risk market-linked securities tied to the lowest performing of the Nasdaq-100, S&P 500 and Russell 2000 with a face amount of $1,000 per security and maturity scheduled for July 6, 2029. The securities pay a fixed call payment of $1,120 if all underlyings are at or above their starting levels on the call date (July 6, 2027), otherwise the maturity payout depends on the lowest performing underlying with a 50% contingent minimum return ($500) conditionally payable. The estimated value on the pricing date was $959.70 per security and the offering shows total proceeds to issuer of $2,645,088.75. These securities do not pay interest, carry full exposure to downside below threshold levels (70% of starting level) and are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC offers Principal at Risk Structured Investments linked to the common stock of Micron Technology, Inc. in a preliminary pricing supplement that sets a $1,000 stated principal amount per security and an observation date of August 2, 2027 with maturity on August 5, 2027.
The securities pay no interest and provide a fixed upside payment of $561.30 per security if the final level is greater than or equal to the downside threshold of $628.6040 (approximately 60% of the initial level). If the final level is below that threshold the payment equals the stated principal amount multiplied by the final/initial level, and could be zero. The pricing date estimated value is approximately $979.60 per security, and agent commissions are up to $10.42 per $1,000 security.
Morgan Stanley Finance LLC priced market-linked, principal-at-risk securities linked to CoreWeave, Inc. stock due July 3, 2029. Each security has a $1,000 face amount, an estimated value on the pricing date of $973.00, and a contingent coupon rate of 30.35% per annum payable monthly if the stock closing price meets the 50% threshold. If not automatically called, principal at maturity depends on the ending price relative to a downside threshold equal to 50% of the starting price; an ending price below that threshold results in a loss tied 1-to-1 to the stock’s decline. The starting price is $99.54, the coupon and downside threshold prices are $49.77, and the securities may be auto-called beginning after a three-month non-call period.
Morgan Stanley Finance LLC priced contingent income, memory buffered auto-callable notes linked to NVIDIA Corporation common stock. Each note has a $1,000 stated principal, 12.24% per annum contingent coupon, automatic early‑redemption windows beginning October 14, 2026, and a buffer equal to 70% of the initial level. At maturity on July 19, 2027, principal is preserved only if the final level is at or above the buffer level; below that level investors bear amplified downside via a 1.4286 downside factor. All payments are subject to the issuer's and guarantor's credit risk. The preliminary estimated value on the pricing date was approximately $985.20 per security.
Morgan Stanley Finance LLC is offering market-linked, auto-callable principal-at-risk securities linked to the lowest performing common stock of Bank of America Corporation, Citigroup Inc. and The Goldman Sachs Group, Inc. with a face amount of $1,000 per security and maturity on July 25, 2028. The securities are callable on scheduled semi-annual calculation days beginning July 23, 2027 and limit upside to preset call payments while exposing holders to full downside of the lowest performing underlying stock, including potential loss of more than 30% of principal if the lowest performing stock falls below its 70% downside threshold. The estimated value at pricing is approximately $963.30 per security (within $35.00), with a price to public of $1,000, agent commission up to $23.25, and proceeds to the issuer of $976.75 per security. These securities do not pay interest, do not provide dividends or voting rights in the underlying stocks, and all payments are subject to the issuer’s and guarantor’s credit risk.
Morgan Stanley Finance LLC offers market-linked, auto-callable principal-at-risk securities due January 15, 2030, linked to the lowest performing of the S&P 500® and the Dow Jones Industrial Average. The securities have a face amount of $1,000 and an estimated value on the pricing date of approximately $959.50. They pay no interest, provide 125% participation in positive performance of the lowest performing underlying (if not called), feature an automatic call with a minimum call payment of $1,122.50 on the call date, and expose holders to full downside risk if the lowest performing underlying falls below an 80% threshold. All payments are subject to Morgan Stanley credit risk and the securities may have limited secondary market liquidity.