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 is offering callable, principal-at-risk market-linked securities linked to the lowest performing of the S&P 500®, Russell 2000® and Nasdaq-100® Technology Sector, with a face amount of $1,000 per security. The securities mature on July 13, 2029 (subject to postponement) and may be redeemed earlier under a model-based call feature. The contingent coupon rate will be set on the pricing date and will be at least 11.20% per annum, paid monthly only if the lowest performing underlying on a monthly calculation day is at or above 75% of its starting level. The estimated value on the pricing date is approximately $956.40 per security (± $45.00). All payments are subject to Morgan Stanley’s credit risk; investors may lose more than 30% and possibly all of principal if the lowest performing underlying falls below 70% of its starting level at maturity.
Morgan Stanley is offering contingent income, auto-callable notes due July 8, 2031 through Morgan Stanley Finance LLC with a stated principal amount of $1,000 per note. The notes pay a contingent coupon at an annual rate of 6.65%, are automatically redeemable if the underlier meets the call threshold, and return the stated principal at maturity if not previously called.
The contingent coupon is payable only when the closing level of the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index is at or above the coupon barrier level (set at 75% of the initial level) on observation dates; the call threshold equals 100% of the initial level. The issuer estimates the notes' value on the pricing date at approximately $970.40 per note. All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC is offering auto-callable structured notes due July 12, 2029 (stated principal $1,000 per note) linked to the worst performing of AMD, NVIDIA and Palantir common stock. The notes have a participation rate of 125%, an automatic early redemption test on July 8, 2027 with an early redemption payment of $1,278 per note, and a final determination date of July 9, 2029. The pricing/strike date is July 7, 2026 and Morgan Stanley estimates the value on the pricing date at approximately $977.80 per note. All payments are unsecured and subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC priced structured, principal-at-risk notes due October 13, 2027, linked to the S&P 500® Index. Each security has a $1,000 issue price and may pay a $67.50 digital payment (6.75%) at maturity if the final level is at or above the digital threshold (93.25%). The notes feature a 20% buffer (buffer level = 80% of the initial level), a minimum payment at maturity equal to 20% of principal, and an estimated value on the pricing date of approximately $987.10 per security. Observation date is October 8, 2027 (subject to postponement); strike/pricing date is July 17, 2026. Payments are unsecured and guaranteed by Morgan Stanley and are subject to issuer credit risk and tax treatment uncertainty.
Morgan Stanley Finance LLC is offering market-linked notes due August 3, 2029, fully guaranteed by Morgan Stanley, linked to the S&P 500® Index. Each note has a stated principal amount of $1,000, a participation rate of 100% and a capped payment at maturity of $1,227.50 to $1,247.50 per note. The strike, pricing and observation date is July 31, 2026 (observation date subject to postponement), with final payment based solely on the closing level on that observation date. The document states an estimated value on the pricing date of approximately $975.30 per note (within $45.00 of that estimate). All payments depend on Morgan Stanley’s creditworthiness and the notes will not be listed on any exchange.
Morgan Stanley Finance LLC is offering callable Jump Notes due August 5, 2031, fully and unconditionally guaranteed by Morgan Stanley. Each note has a stated principal amount of $1,000, does not pay interest and has an estimated value on the pricing date of approximately $961.10.
The notes pay at maturity only if the final level of each underlier is greater than its initial level: investors would receive the stated principal plus an upside payment equal to 115% × the percent change of the worst performing underlier. If the final level of either underlier is equal to or less than its initial level, investors receive only the stated principal. The underliers are the Russell 2000® Index and the S&P 500® Index.
The notes are callable beginning with the first redemption date August 11, 2027. Redemption on any redemption date will occur only if a risk neutral valuation model indicates it is economically rational for the issuer; scheduled redemption payments are fixed and rise over time (for example, at least $1,120 on August 11, 2027 up to at least $1,590 on July 3, 2031). All payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC (guaranteed by Morgan Stanley) is offering callable Jump Notes tied to the worst performing of the NDXT, RTY and SPX indices. The notes have a $1,000 stated principal amount per note, a 125% participation rate for upside at maturity and an observation date of July 31, 2031 with maturity on August 5, 2031.
The notes do not pay interest, may be called beginning on August 11, 2027 if a risk neutral valuation model indicates redemption is economically rational, and offer fixed scheduled redemption payments that correspond to at least 12.25% per annum on early redemption dates. The estimated value on the pricing date is approximately $952.60 per note. All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC is offering callable Principal at Risk Securities due July 15, 2031. Each security has a $1,000 stated principal amount and a contingent coupon at an annual rate of 26.00% payable only if each underlier meets its coupon barrier on observation dates.
The securities are linked to the worst performing of the Nasdaq-100 Technology Sector, the Russell 2000 and the VanEck Semiconductor ETF (SMH). If any underlier is below its downside threshold at maturity, investors suffer a loss equal to the percentage decline of the worst performing underlier; if all underliers are at or above their thresholds, investors receive the stated principal. The issuer may call the notes beginning on January 14, 2027 based on a risk neutral valuation model. All payments are subject to Morgan Stanley’s credit risk.
The pricing supplement describes Morgan Stanley Finance LLC structured callable notes due August 5, 2031 (stated principal $1,000 per note) linked to the S&P 500® Futures Excess Return Index. The notes pay no periodic interest, feature issuer callability beginning August 11, 2027 based on a risk neutral valuation model, and at maturity (if not redeemed) pay principal plus an upside payment equal to stated principal × 160% participation × underlier percent change when the final level is greater than the initial level. The pricing date and strike date are July 31, 2026, the original issue date is August 5, 2026, and the observation date is July 31, 2031. Payments are unsecured and subject to Morgan Stanley and MSFL credit risk. The estimated value on the pricing date is approximately $960.70 per note.
Morgan Stanley Finance LLC is offering Buffered PLUS notes due July 31, 2031 linked to the EURO STOXX 50® Index. Each security has a stated principal amount of $1,000, a leverage factor of 156.50%, a 20% buffer and a minimum payment at maturity of 20% of principal. The pricing and strike dates are July 28, 2026 and the estimated value on the pricing date is approximately $943.70 per security. Payments at maturity depend on the final index level on the observation date and are subject to issuer and guarantor credit risk and tax uncertainty.
Morgan Stanley Finance LLC prices Principal at Risk securities linked to the S&P 500® Index. Each note has a $1,000 stated principal amount and pays no interest; principal repayment at maturity depends on the index level on the observation date, with a 10% buffer, 100% participation up to a $1,819 maximum, and a 10% minimum payment.
The securities are unsecured obligations of MSFL, fully guaranteed by Morgan Stanley, subject to issuer credit risk and limited secondary-market liquidity; the preliminary estimated value on the pricing date is approximately $948.10 per security.
Morgan Stanley Finance LLC is offering Principal at Risk notes due January 31, 2030, fully guaranteed by Morgan Stanley, linked to the performance of the Russell 2000® Index. Each security has a $1,000 stated principal amount and an upside payment of $286.50 (28.65%) if the final level is at or above the buffer.
The securities include a buffer amount of 15%; if the final level is below the buffer, holders lose 1 of principal for each 1 decline beyond that buffer, subject to a minimum payment at maturity of 15% of principal. Pricing and strike dates are July 28, 2026, with an original issue date of July 31, 2026. The issuer’s estimated value on the pricing date is approximately $959.30 per security.
Morgan Stanley Finance LLC is offering structured, principal‑at‑risk notes due January 31, 2030 that reference the S&P 500® Index and are fully and unconditionally guaranteed by Morgan Stanley.
The notes have a stated principal of $1,000 per security and a fixed upside payment of $261 (26.10%) payable at maturity if the final level is greater than or equal to the buffer level (85% of the initial level). If the final level is below the buffer level, holders lose 1% of principal for each 1% decline beyond the 15% buffer, subject to a minimum payment of 15% of principal. The pricing/strike date is July 28, 2026 with an original issue date of July 31, 2026. The estimated value on the pricing date is approximately $959.50 per security.
Morgan Stanley Finance LLC priced a Principal‑at‑Risk structured note linked to the S&P 500® Futures Excess Return Index with a $1,000 stated principal per security and a July 31, 2031 maturity. The securities feature an upside payment of $480 (48% of principal), a maximum payment at maturity of $1,500 (150% of principal), a buffer amount of 15% (buffer level = 85% of initial level) and a minimum payment at maturity of 15% of principal. The estimated value on the pricing date is approximately $949.40 per security. Payment at maturity depends solely on the closing underlier level on the observation date and is subject to Morgan Stanley Finance LLC and Morgan Stanley credit risk; investors may lose a significant portion of principal if the underlier falls below the buffer.
Morgan Stanley Finance LLC issues Dual Directional Buffered Jump Securities due July 31, 2031 linked to the S&P 500® Futures Excess Return Index. Each security has a $1,000 stated principal amount and an original issue price of $1,000. The document states an estimated value on the pricing date of approximately $949.00. At maturity investors receive outcomes tied to the index: an upside payment of $524.50 (52.45% of principal) if the final level is at or above the initial level; a capped positive return up to 15% if the index declines but remains above the 15% buffer level; or losses beyond the buffer, with a 15% minimum payment at maturity. The securities do not pay interest, are principal‑at‑risk and are fully and unconditionally guaranteed by Morgan Stanley; all payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC priced Buffered PLUS principal-at-risk notes due July 31, 2031, with a stated principal amount of $1,000 per security and an original issue price of $1,000 per security. The notes track the S&P 500® Futures Excess Return Index and pay no interest.
At maturity the notes pay the stated principal plus a leveraged upside if the final level exceeds the initial level, return the stated principal if the final level is between the buffer level and the initial level, or suffer losses beyond the buffer if the final level is below the buffer level. Key terms include a 160.50% leverage factor, a 30% buffer amount (70% buffer level), and a minimum payment at maturity of 30% of stated principal. Payments are subject to Morgan Stanley Finance LLC credit risk and the guarantee of Morgan Stanley. The observation date is July 28, 2031, subject to postponement for non-trading days and certain market disruption events.
Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable Buffered Jump Securities tied to the S&P 500® Futures Excess Return Index with a $1,000 stated principal amount per security. The securities can auto-redeem on the first determination date for $1,125 and mature on July 31, 2031.
The structure includes a 20% buffer (buffer level = 80% of the initial level) and a 150% participation rate for upside above the initial level. If final index performance is below the buffer, investors lose 1% of principal for each 1% decline beyond the buffer, subject to a 20% minimum payment at maturity. All payments are unsecured and depend on issuer and guarantor creditworthiness.
Morgan Stanley Finance LLC offers contingent‑income, principal‑at‑risk notes due July 8, 2031, guaranteed by Morgan Stanley. The notes pay a contingent coupon at an annual rate of 13.50% on observation dates when the underlying index meets the coupon barrier, carry $1,000 stated principal per security and have an estimated value of approximately $933.30 on the pricing date.
The notes reference the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index, include automatic early‑redemption mechanics tied to a call threshold (100% of the initial level), and expose investors to full downside below a downside threshold of 60% of the initial level. Payments are subject to Morgan Stanley’s credit risk and the notes do not provide guaranteed principal or regular interest.
Morgan Stanley Finance LLC priced a preliminary offering of structured, principal-at-risk notes due July 31, 2031 that are fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an initial estimated value of approximately $905.70 on the pricing date.
The notes pay a contingent coupon (actual annual rate to be set on the pricing date within 9.25% to 10.25%) only if the closing level of the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index meets the coupon barrier on observation dates. The notes feature an automatic early redemption if the index reaches a call threshold (90% of the initial level) on scheduled redemption determination dates. At maturity, if not called, principal protection is limited by a 20% buffer and a 20% minimum payment; declines beyond the buffer produce proportional principal loss.
Morgan Stanley Finance LLC priced callable Jump Notes linked to the S&P 500® Futures Excess Return Index. Each note has a $1,000 stated principal amount, a 140% participation rate for upside at maturity and matures on July 31, 2031. The notes do not pay interest and are unsecured obligations of MSFL, fully guaranteed by Morgan Stanley. Beginning August 9, 2027 the issuer may call the notes on specified redemption dates if a risk neutral valuation model indicates redemption is economically rational; fixed minimum redemption payments are set for each redemption date. Estimated value on pricing was approximately $934.10 per note; all payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC is offering contingent income auto-callable securities due July 25, 2029 that are fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and an issue price of $1,000; the estimated value on the pricing date was approximately $957.40. The securities pay a contingent coupon of 7.00% per annum only if, on each observation date, the closing level of the Dow Jones Industrial Average, Russell 2000® and S&P 500® (each an underlier) is at or above its coupon barrier level. The notes are subject to automatic early redemption if, on a redemption determination date, each underlier is at or above its call threshold (105% of initial level). At maturity, if the final level of any underlier is below its downside threshold (70% of initial level), the payment equals the stated principal multiplied by the performance factor of the worst performing underlier, which may result in a substantial loss of principal, possibly to zero. All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC is offering Callable Jump Notes linked to the worst performing of the Russell 2000® and the S&P 500®. Each note has a $1,000 stated principal amount and an original issue price of $1,000. The notes do not pay interest, mature on July 31, 2031, and pay at maturity only if the final level of each underlier exceeds its initial level; otherwise investors receive the stated principal amount.
The notes are callable beginning August 9, 2027 if a risk neutral valuation model indicates redemption is economically rational. Redemption payments are fixed per listed dates (for example, at least $1,100 on the first redemption date). The estimated value on the pricing date is approximately $937.30 per note. All payments are subject to the credit risk of Morgan Stanley and guaranteed by Morgan Stanley.
Morgan Stanley Finance LLC priced a structured, principal-at-risk offering linked to an equally weighted basket of Oracle and Micron. The issue has a $1,000 face amount per security, an estimated value of $930.40 on the pricing date, and total public offering proceeds of $1,775,000.
The securities pay a contingent monthly coupon at a 17.25% per annum rate if the Basket meets an 80 (80%) threshold on monthly calculation days, include a 20% buffered downside, are callable after six months, and mature on July 3, 2029. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC is offering structured, principal‑at‑risk notes due July 31, 2031 linked to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index. Each security has a $1,000 stated principal amount and may pay a contingent coupon; principal is at risk if the final level is below the 50% downside threshold.
The notes carry an estimated value on the pricing date of approximately $887.70 per security and include an automatic early‑redemption feature beginning with a first redemption determination date of July 28, 2027. The contingent coupon rate will be set on the pricing date and is described as between 9.50% and 10.50% per annum in this preliminary pricing supplement. All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley.
Morgan Stanley Finance LLC priced $28,740,000 of Leveraged Buffered S&P 500® Index-Linked Notes due August 2, 2027, guaranteed by Morgan Stanley. The notes (Face Amount $1,000 each) offer 150% upside participation in the S&P 500® up to a capped cash payment of $1,126.60 per $1,000, provide a 10.00% downside buffer and expose holders to issuer credit risk. Trade Date is June 29, 2026, Original Issue Date July 2, 2026, Determination Date July 29, 2027 and Stated Maturity Date August 2, 2027. The estimated value on the Trade Date is $986.70 per note; proceeds to the issuer are $989.20 per note after a $10.80 agent commission.
Morgan Stanley Finance LLC is offering Principal at Risk notes due July 31, 2031, fully guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000, an expected fixed coupon to be set on the pricing date in the range 7.10%–8.10% per annum, monthly coupon payments, and an automatic early redemption feature beginning with the first redemption determination date on July 28, 2027. The notes reference the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index, include a 15% buffer and a 15% minimum payment at maturity, and have an estimated value on the pricing date of approximately $917.20 per security.
Morgan Stanley Finance LLC offers principal-at-risk notes backed by a Morgan Stanley guarantee linked to the S&P U.S. Equity Momentum 40% VT 4% Decrement Index. Each security has a $1,000 stated principal amount, a fixed monthly coupon (annual rate set on the pricing date), automatic early redemption tests beginning July 28, 2027, a 15% buffer, and maturity on July 31, 2031. The securities return the stated principal at maturity only if the final index level is at or above the buffer; otherwise principal is reduced 1% for each 1% the index falls beyond the buffer, subject to a 15% minimum payment. All payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC offers market-linked notes due July 8, 2031 fully and unconditionally guaranteed by Morgan Stanley. Each note has a stated principal amount of $1,000 and does not pay interest. At maturity investors receive the stated principal amount and, if the basket’s final level exceeds the initial level, an upside payment equal to the stated principal amount × the participation rate × the underlier percent change. The participation rate is 112%. The underlier is a 10-stock equally weighted basket (each 10%) including PFE, DUK, SO, KO, MO, O, BRK.B, PG, WEC and UL. The strike and pricing date are July 2, 2026 and the observation date is July 2, 2031. The issue price is $1,000 per note and Morgan Stanley estimates the note's value on the pricing date at approximately $946.60. All payments are subject to Morgan Stanley’s credit risk; the notes are unsecured, not exchange-listed and secondary market liquidity may be limited.
Morgan Stanley Finance LLC offers Structured Investments Step-Up Jump Notes with an Auto-Callable Feature due July 21, 2033, fully and unconditionally guaranteed by Morgan Stanley. The notes have a $1,000 stated principal amount per note, an original issue price of $1,000 and an estimated value on the pricing date of approximately $895.10 per note.
The notes pay no interest, may be automatically redeemed on specified annual determination dates beginning July 16, 2027 if the underlier meets rising call thresholds, and otherwise pay at maturity either principal plus any upside (100% participation) if the final level exceeds the initial level, or only principal if it does not. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC priced structured, auto-callable jump notes due July 21, 2033, fully and unconditionally guaranteed by Morgan Stanley. Each note has a $1,000 stated principal amount, pays no interest and offers a 100% participation in positive index performance at maturity. The notes may be automatically redeemed on specified annual determination dates beginning July 16, 2027 if the Morgan Stanley Amplitude Index closing level meets or exceeds a call threshold (set at 101% of the initial level). Early redemption payments are fixed and range from at least $1,107.50 (first call) up to at least $1,645.00 (sixth call) per note in the examples. The estimated value on the pricing date was approximately $901.90 per note. All payments are subject to issuer and guarantor credit risk; the notes are unsecured, non‑deposit instruments and will not be listed. The underlier is a new, rules-based multi-asset index (inception January 5, 2026) that deducts fees including 0.65% per annum and historically averaged total fees of approximately 1.4% per annum in back-tested data.
Morgan Stanley Finance LLC offers Principal at Risk Dual Directional Jump Securities linked to Marvell Technology, Inc. common stock with an auto-callable feature and a $1,000 stated principal per security. The securities may be automatically redeemed on scheduled determination dates beginning July 23, 2027 for fixed early redemption payments (first example $1,350.00). If not redeemed, payment at maturity on July 19, 2029 depends on the final level relative to the call threshold (75% of the initial level) and the downside threshold (50% of the initial level). The estimated value on the pricing date is approximately $939.10 per security. All payments are subject to Morgan Stanley Finance LLC’s and Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is offering callable Principal at Risk securities linked to the S&P 500® Futures Excess Return Index with a $1,000 stated principal amount per security. The notes feature a 15% buffer, a 200% participation rate on upside, a call feature beginning July 22, 2027, and a minimum payment at maturity equal to 15% of principal.
The securities do not pay interest, carry issuer and guarantor credit risk, and include scheduled fixed redemption payments on multiple redemption dates; estimated value on the pricing date was approximately $932.00 per security.
Morgan Stanley Finance LLC is offering structured, market-linked notes due August 2, 2029, fully and unconditionally guaranteed by Morgan Stanley, linked to the Morgan Stanley Amplitude Index. Each note has a stated principal amount of $1,000 and pays no interest; at maturity investors receive principal plus an upside payment only if the index final level exceeds the initial level. The upside payment equals stated principal × participation rate × underlier percent change; the participation rate will be set on the pricing date in a range of 475% to 480%. Key dates include a strike and pricing date of July 28, 2026, original issue date July 31, 2026, observation date July 30, 2029 and maturity August 2, 2029. The preliminary estimated value on the pricing date is approximately $924.80 per note. All payments are subject to the issuer’s and guarantor’s credit risk and the notes will not be listed on any exchange.
Morgan Stanley Finance LLC is offering market-linked notes due May 3, 2028, fully and unconditionally guaranteed by Morgan Stanley, linked to the Morgan Stanley Amplitude Index. Each note has a $1,000 stated principal amount and pays no interest; at maturity investors receive principal plus an upside payment only if the index final level exceeds the initial level.
The participation rate will be set on the pricing date and is stated as 225% to 230%. Key dates: strike/pricing date July 28, 2026, original issue date July 31, 2026, observation date April 28, 2028. The estimated value on the pricing date is approximately $946.00 per note.
Morgan Stanley Finance LLC is offering principal-at-risk callable buffered jump securities tied to the S&P 500® Futures Excess Return Index. The securities are issued at a stated principal amount of $1,000 per security, have an original issue date of July 31, 2026 and mature on July 31, 2031. Investors face full credit exposure to Morgan Stanley and no regular interest. The securities include a 15% buffer and a 200% participation rate in positive index performance; if the final level is below the buffer, investors lose 1% for each 1% decline beyond the buffer, subject to a minimum payment at maturity of 15% of principal. The notes are callable beginning on August 3, 2027 under a risk-neutral valuation model and list fixed redemption payments on specified redemption dates. The estimated value on the pricing date is approximately $930.50 per security. All payments are subject to the issuer’s and guarantor’s credit risk.
Morgan Stanley Finance LLC offers callable contingent income securities linked to Palantir Technologies Inc. class A common stock. Each security has a $1,000 stated principal amount and an issue price of $1,000; the estimated value on the pricing date is approximately $957.10.
The notes pay a contingent coupon of 17.80% per annum on scheduled coupon dates only if the underlier’s closing level on each observation date is at or above the coupon barrier (set at 60% of the initial level). If not redeemed earlier under a risk neutral valuation model-based call, the maturity payoff returns principal if the final level is at or above the downside threshold (50% of initial level) or otherwise pays the stated principal multiplied by the performance factor (final level / initial level), exposing investors to full downside loss. The first redemption date is October 16, 2026 and maturity is January 13, 2028.
Morgan Stanley Finance LLC offers principal-at-risk, fixed-coupon, buffered auto-callable securities due July 10, 2031 linked to the S&P U.S. Equity Momentum 40% VT 4% Decrement Index. The notes pay a 6.50% annual fixed coupon monthly, can auto-redeem beginning July 7, 2027 if the underlier is at or above a call threshold equal to 90% of the initial level, and provide a 15% buffer at maturity with a $1,000 stated principal amount. If final performance is below the buffer, principal is reduced pro rata subject to a 15% minimum payment.
Morgan Stanley Finance LLC is offering buffered, auto-callable Principal at Risk securities due July 13, 2029, linked to the worst performing of the Russell 2000® and S&P 500® indices. Each security has a $1,000 stated principal amount and an estimated value on the pricing date of approximately $978.80.
The notes pay no regular interest, carry a 15% buffer (buffer amount) and a participation rate of 100%. If both underliers meet or exceed their call thresholds on the first determination date (July 16, 2027), the notes automatically redeem for $1,170.50 per security. If not auto‑redeemed, payout at maturity depends on the worst performing underlier versus its buffer and may result in significant principal loss subject to a 15% minimum payment at maturity.
Morgan Stanley Finance LLC offers auto-callable Jump Notes due August 2, 2033, fully guaranteed by Morgan Stanley. Each note has a $1,000 stated principal amount and an estimated value on the pricing date of approximately $950.20. The notes have a July 28, 2026 strike and pricing date, an observation date of July 28, 2033, and a participation rate of 100%. The notes may be automatically redeemed on specified annual determination dates beginning July 28, 2027 if the underlier meets or exceeds a call threshold equal to 101% of the initial level; specified early redemption payments correspond to returns of approximately 10.75% per annum for each applicable year. Payment at maturity, if not auto-redeemed, will return principal plus any upside based on the underlier’s appreciation; if the final level is equal to or below the initial level, only the stated principal is payable. All payments are subject to the issuer’s and guarantor’s credit risk. The underlier is the Morgan Stanley Amplitude Index, established January 5, 2026, which deducts 0.65% per annum and has averaged total fees of approximately 1.4% per annum in back-tests.
Morgan Stanley Finance LLC is offering Principal at Risk structured notes due July 31, 2031 linked to the S&P 500® Futures Excess Return Index. Each security has a $1,000 stated principal amount and an estimated value on the pricing date of approximately $936.70. At maturity investors receive either a positive return tied to the index (including an upside payment of $526.50 to $546.50) or, if the index falls below the downside threshold (70% of the initial level), a loss of principal proportional to the index decline. Payments do not include interest and are subject to Morgan Stanley Finance LLC and Morgan Stanley credit risk.
Morgan Stanley Finance LLC priced $2,450,000 of Digital EURO STOXX® Banks Index‑Linked Notes due July 3, 2030, fully guaranteed by Morgan Stanley. Each $1,000 Face Amount note was offered at $1,000 with an estimated value of $947.60 on the trade date of June 29, 2026. The notes pay no interest and the cash payment at maturity depends on the EURO STOXX® Banks Index performance from the Trade Date to the Determination Date. If the Final Underlier Level is ≥80% of the Initial Underlier Level, holders receive a capped Maximum Settlement Amount of $1,510.50 per $1,000 note (151.05%); if the Final Underlier Level is <80%, the payment is reduced by the specified buffer formula (Buffer Rate 125.00%), and investors may lose some or all principal. All payments are subject to issuer credit risk and there will be no listing or guaranteed secondary market.
Morgan Stanley Finance LLC priced a series of principal-at-risk, auto-callable notes due July 31, 2031 linked to the S&P U.S. Equity Momentum 40% VT 4% Decrement Index. Each security has a $1,000 stated principal, a 200% participation rate, an 85% buffer level (15% buffer amount) and a potential early redemption feature on the first determination date July 29, 2027. The estimated value on the pricing date is approximately $939.90 per security. Payments depend on index performance and are subject to Morgan Stanley credit risk; if final level is below the buffer, principal losses occur beyond the 15% buffer and maturity pay may be as low as the 15% minimum payment.
Morgan Stanley Finance LLC is offering Trigger GEARS (principal-at-risk securities) linked to a weighted Basket of the S&P MidCap 400® (80%) and the EURO STOXX® Mid Index (20%). The Securities have an Issue Price of $10.00 and an estimated Trade Date value of $9.367. The Trade Date is July 8, 2026, Final Valuation Date is July 8, 2031, and Maturity Date is July 11, 2031.
If the Basket Return is > 0, payout at maturity equals $10 + $10 × (Basket Return × Upside Gearing); the indicative Upside Gearing range is 1.06 to 1.1225. If the Final Basket Level is below the Downside Threshold of 75 (75% of the Initial Basket Level), holders can lose a substantial portion or all of principal; the contingent repayment of principal applies only at maturity. Payments are subject to MSFL and Morgan Stanley credit risk.
Morgan Stanley Finance LLC offers a preliminary pricing supplement for principal-at-risk structured notes due August 1, 2030 linked to the worst performing of the Dow Jones Industrial Average, Nasdaq-100 and Russell 2000. Each security has a stated principal amount of $1,000 and an estimated value on the pricing date of approximately $943.40. The notes pay no interest; at maturity investors either receive the stated principal plus an upside payment (estimated between $392.50 and $412.50) if every underlier is at or above its downside threshold (70% of initial level), or else receive principal reduced pro rata by the percentage decline of the worst performing underlier. The observation date is July 29, 2030. All payments are subject to the issuer’s and guarantor’s credit risk and the securities could pay zero at maturity.
Morgan Stanley Finance LLC is offering structured Step-Up Jump Notes due August 2, 2033, fully guaranteed by Morgan Stanley. Each note has a $1,000 original issue price and an estimated value on the pricing date of approximately $893.50. The notes pay no interest, carry a 100% participation rate in upside of the Morgan Stanley Amplitude index and include an automatic early redemption feature beginning with the first determination date on July 28, 2027. If automatically redeemed on successive determination dates, investors receive fixed early redemption payments (for example, at least $1,160 on the first early redemption date). At maturity, if the final level exceeds the initial level, holders receive principal plus upside; otherwise holders receive only the stated principal amount. All payments remain subject to the issuer’s and guarantor’s credit risk.
Morgan Stanley Finance LLC priced a contingent income auto-callable note offering (stated principal $1,000 per security) due February 2, 2028, fully and unconditionally guaranteed by Morgan Stanley. The notes pay a contingent coupon and are linked to the worst performing of the NDXT, RTY and SPX indices.
The contingent coupon rate will be set on pricing (estimated range 11.00%–12.00% annual). Coupons and automatic early redemption depend on each underlier meeting specified barrier levels on observation and redemption determination dates. At maturity investors receive principal only if each underlier is at or above its 70% downside threshold; otherwise repayment equals principal times the worst-performing underlier’s performance factor, which could result in significant loss or zero recovery.
Morgan Stanley Finance LLC priced a structured note offering: Dual Directional Buffered Jump Securities tied to the S&P 500® Futures Excess Return Index, fully and unconditionally guaranteed by Morgan Stanley. The securities have a $1,000 stated principal amount per security, a pricing/strike date of July 31, 2026, an original issue (maturity) date of August 5, 2031, and pay no interest.
At maturity the payout depends on the index closing level on the observation date: investors may receive the stated principal plus an upside payment of $535 to $555 (53.50%–55.50%) if the index finishes at or above the initial level; a positive return up to 20% if the index declines but remains at or above an 80% buffer level; or losses beyond the buffer with a minimum payment of 20% of principal. The document shows an estimated value on the pricing date of approximately $966.10 per security and states these securities are sold to fee-based advisory accounts.
Morgan Stanley Finance LLC priced contingent income auto-callable securities linked to the worst performing of SLV, the Nasdaq-100 Technology Sector and the Russell 2000. The securities have a $1,000 stated principal amount per security and an estimated value on the pricing date of approximately $937.30. They pay a contingent coupon (annual rate to be set on the pricing date, indicated at 8.25%–9.25% range) only if each underlier is at or above its coupon barrier on an observation date. The notes are automatically redeemed if all underliers meet call thresholds on a redemption determination date; otherwise at maturity investors either receive principal (if all underliers are at or above 50% downside thresholds) or suffer a loss equal to the percentage decline of the worst performing underlier. All payments are subject to Morgan Stanley Finance LLC’s and Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is offering structured Principal at Risk securities linked to the S&P 500® Futures Excess Return Index. Each security has a $1,000 stated principal amount and a fixed upside payment of $341.50 to $361.50 per security if the final level is at or above a downside threshold set at 70% of the initial level. The securities do not pay interest and may repay less than principal at maturity; if the final level is below the downside threshold, the payment equals the stated principal amount multiplied by the underlier performance (a full loss of principal is possible). Key dates include a strike and pricing date of July 28, 2026, an observation date of July 29, 2030 and a maturity date of August 1, 2030. The estimated value on the pricing date is approximately $944.50 per security and all payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is offering Principal at Risk notes due August 5, 2031 that are fully guaranteed by Morgan Stanley and are linked to the S&P U.S. Equity Momentum 40% VT 4% Decrement Index. Each security has a stated principal amount of $1,000 and a contingent coupon payable only when the underlier meets the coupon barrier on specified observation dates.
The securities feature an automatic early redemption schedule beginning with a first redemption determination date of January 29, 2027, a buffer equal to 15% (buffer level = 85% of the initial level), a minimum payment at maturity of 15% of principal, and contingent coupon guidance in the range of 12.75% to 13.75% per annum. All payments are subject to Morgan Stanley's credit risk.