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 structured note, the Dual Directional Buffered PLUS, with a stated issue price of $1,000 per security and a maturity date of August 5, 2031. The securities reference the EURO STOXX 50® Index with an observation date of July 31, 2031.
Payoff features: if the final level is above the initial level, holders receive principal plus a leveraged upside (leverage factor set between 167% and 182%); if the final level is down but at or above a 20% buffer, holders receive principal plus an absolute return based on a 50% participation rate (effectively capped at 10% positive return); if below the buffer, losses occur dollar-for-dollar beyond the buffer, subject to a 20% minimum payment at maturity. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC is offering Dual Directional Trigger PLUS notes due July 31, 2031 with a stated principal amount of $1,000 per security. The securities pay no interest and are fully guaranteed by Morgan Stanley. Payment at maturity depends on the performance of the worst performing underlier (the Dow Jones Industrial Average, Russell 2000® and S&P 500®) using a leverage factor (130%–135%) for upside, a 50% absolute return participation feature when declines remain above a 60% downside threshold, and full principal exposure if the worst underlier falls below its downside threshold. Estimated value on the pricing date is approximately $932.40 per security. All payments are subject to MSFL/Morgan Stanley credit risk.
Morgan Stanley Finance LLC priced a preliminary offering of Dual Directional Buffered PLUS notes due July 31, 2031 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 pays no interest. The payout at maturity depends solely on the final closing levels on the observation date and is determined by the worst performing underlier, a leverage factor (estimated between 137%–152%), a 20% buffer and a 20% minimum payment. The estimated value on the pricing date is approximately $929.10 per security. All payments are unsecured and subject to Morgan Stanley Finance LLC's and Morgan Stanley's credit risk.
Morgan Stanley Finance LLC is offering Principal at Risk notes due July 31, 2031 linked to the S&P 500® Index and fully guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000. At maturity investors may receive: (1) principal plus 100% of upside appreciation capped at a maximum upside payment of $1,586.50 to $1,606.50; (2) if the index declines but remains at or above a 15% buffer level, principal plus a positive return equal to the absolute decline (100% participation) up to an effective +15% cap; or (3) if the index falls below the buffer, principal is reduced dollar-for-dollar for declines beyond the buffer, subject to a minimum payment of 15% of principal. The pricing date and strike date are July 28, 2026, original issue date is July 31, 2026, observation date is July 28, 2031. The document states an estimated value on the pricing date of approximately $936.80 per security and emphasizes credit risk of Morgan Stanley, limited secondary-market liquidity, model-dependent valuations, and uncertain U.S. federal tax treatment.
Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable structured notes due August 1, 2030, fully guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and may be automatically redeemed on scheduled determination dates for fixed early redemption payments; otherwise payoff at maturity depends on the worst performing of the Russell 2000® and S&P 500® indices.
The securities pay no interest, have an estimated value on the pricing date of approximately $958.70, expose investors to full issuer credit risk, and can cause investors to lose up to their entire principal if the worst performing underlier falls below its downside threshold level.
Morgan Stanley Finance LLC is offering Principal-at-Risk PLUS securities that are fully and unconditionally guaranteed by Morgan Stanley and pay at maturity based on the worst performing of the Nasdaq-100, the S&P 500 and the Vanguard Information Technology ETF. The securities have a $1,000 stated principal amount, a 178% leverage factor for any upside of the worst performing underlier and a five-year term (strike/price date June 29, 2026, observation date June 30, 2031, maturity July 3, 2031).
Payment at maturity: if all underliers appreciate, investors receive principal plus 178% of the worst-performing underlier’s appreciation; if any underlier declines, investors lose 1% of principal per 1% decline in the worst-performing underlier, with no minimum payment. The offering size is $537,000 aggregate; estimated value on pricing date is $974.20 per security. All payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC priced Principal-at-Risk notes (guaranteed by Morgan Stanley) linked to the common stock of Broadcom Inc.
The securities are offered at a $1,000 stated principal amount each, with an aggregate offering of $1,000,000. The securities mature on July 14, 2027 with an observation date of July 9, 2027 (subject to postponement). If the final level is at or above the buffer level, holders receive the stated principal plus a fixed upside payment of $236.60 (23.66%). If the final level is below the buffer level (buffer amount 20%, buffer level $292.016), investors lose 1.25% of principal for every 1% decline beyond the buffer (downside factor 1.25); there is no minimum payment and the principal could be lost. The estimated value on the pricing date was $984.30 per security and agent commissions equal $10 per security.
All payments are subject to Morgan Stanley's credit risk; investors must be willing to forgo current income and risk loss of principal.
Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable securities linked to the common stock of MP Materials Corp. The securities have a stated principal amount of $1,000 per security and an aggregate principal amount of $975,000. They pay a contingent coupon only when the underlier's closing level meets or exceeds the coupon barrier on observation dates and may auto‑redeem early if the underlier meets the call threshold on a redemption determination date. If not auto‑redeemed, maturity payment is $1,000 if the final level is at or above the downside threshold; otherwise payment equals $1,000 × (final level / initial level), exposing investors to full downside risk. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC priced market-linked notes due August 1, 2030, fully guaranteed by Morgan Stanley, linked to the S&P 500® Futures Excess Return Index. Each note has a stated principal of $1,000; estimated value on the pricing date is approximately $954.20. At maturity, if the index final level exceeds the initial level, holders receive principal plus an upside payment equal to the stated principal multiplied by a participation rate (determined on the pricing date) and the underlier percent change; if the final level is equal to or less than the initial level, holders receive only the stated principal. The participation rate range is disclosed as 103.25% to 108.25%. All payments are subject to issuer credit risk; the notes are unsecured, will not be listed, and may have limited secondary market liquidity.
Morgan Stanley Finance LLC offers market-linked notes due August 2, 2029 linked to the S&P 500® Index, fully guaranteed by Morgan Stanley. Each note has a $1,000 stated principal amount, pays no interest, and returns principal at maturity with upside participation subject to a maximum payment determined at pricing.
The notes provide 100% participation in positive index performance up to a maximum payment at maturity of $1,192.50 to $1,212.50 per note. Estimated value on the pricing date was approximately $961.60 per note; all payments are subject to issuer credit risk and limited secondary-market liquidity.
Morgan Stanley Finance LLC is offering structured, principal-at-risk notes due August 4, 2027 linked to the S&P 500® Index. Each security has a $1,000 stated principal amount and an issue price of $1,000. The securities pay a 8.96% annual contingent coupon on specified observation dates only if the index closing level is at or above the coupon barrier (5,999.488, 80% of the initial level). The initial level (strike) is 7,499.36. Automatic early redemption is possible on specified determination dates for the stated principal plus any payable contingent coupons. At maturity, if the final level is below the downside threshold (5,999.488), principal is paid pro rata to index performance and could be significantly less than the stated principal or zero. Estimated value on pricing date: approximately $985.30. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC priced contingent-income, principal-at-risk notes linked to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index. Each security has a $1,000 stated principal amount, a pricing/strike date of July 31, 2026, a final observation date of July 31, 2031, and a maturity date of August 5, 2031.
The notes pay a contingent coupon (annual rate to be set on the pricing date, indicated between 12.50% and 13.50% in the supplement) only when the closing level of the underlier meets or exceeds the coupon barrier (set at 60% of the initial level). The notes feature automatic early redemption if the underlier meets the call threshold (100% of the initial level) on specified redemption determination dates. At maturity, if the final level is below the downside threshold (60% of initial level), principal is reduced pro rata by the underlier’s decline; conversely, if the final level is at or above the downside threshold, investors receive principal.
Morgan Stanley Finance LLC priced Principal at Risk callable contingent income securities linked to the worst performing of the Dow Jones Industrial Average, the Nasdaq-100® Technology Sector Index and the Russell 2000® Index. The securities have a $1,000 stated principal amount, aggregate offering of $2,350,000, and a 13.65% per annum contingent coupon payable only if each underlier meets its coupon barrier on observation dates. The notes may be called beginning October 2, 2026 based on a risk neutral valuation model determination; if not called, repayment at maturity on January 3, 2028 is principal unless the worst performing underlier is below its 70% downside threshold, in which case investors lose in proportion to that underlier’s decline.
Morgan Stanley Finance LLC priced a contingent income, principal-at-risk note due August 5, 2031, fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an estimated value on the pricing date of approximately $924.20. The notes pay a contingent coupon (annual rate to be set on the pricing date, indicated between 12.75% and 13.75%) only if the underlier meets the coupon barrier on specified observation dates and may be automatically redeemed early if the underlier meets the call threshold on redemption determination dates. At maturity, if the final level is below the downside threshold (both coupon barrier and downside threshold are 60% of the initial level), investors suffer a pro rata loss equal to the underlier’s decline; payments could be significantly less than principal or zero. The underlier is the S&P® 500 Futures 40% Intraday 4% Decrement VT Index, which applies a 4% per annum daily decrement and uses intraday volatility targeting. All payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC offers principal-at-risk, contingent income auto-callable securities with a stated principal amount of $1,000 per security. The notes pay a contingent coupon (annual rate to be set on the pricing date, indicated at 13.25%–14.25% range) only if the closing level of each underlier meets its coupon barrier on observation dates. The securities are linked to the worst performing of the Nasdaq-100® Technology Sector Index, the Russell 2000® Index and the S&P 500® Index. They feature automatic early redemption if all underliers meet call thresholds on a redemption determination date, and a maturity date of February 3, 2028. If any underlier is below its downside threshold at final observation, investors suffer a loss equal to the percentage decline of the worst performing underlier; payments depend on closing levels on specified observation and redemption dates. All payments are unsecured obligations of MSFL and are fully guaranteed by Morgan Stanley and remain subject to the issuer’s credit risk.
Morgan Stanley Finance LLC is offering structured notes—Enhanced Buffered Jump Securities—fully and unconditionally guaranteed by Morgan Stanley. The securities are issued at a $1,000 stated principal amount per security with an upside payment of $87.60 (8.76%). The notes reference the S&P 500® Index, have an initial level of 7,499.36 (strike date June 30, 2026), an observation date of July 13, 2027 and mature on July 16, 2027. Payouts: if the final level ≥ buffer (90% of initial level), holders receive principal plus the fixed upside payment; if final level < buffer, losses apply beyond the 10% buffer at a downside factor of 1.1111, with no minimum payment. Estimated value on the pricing date is approximately $986.50 per security; agent commission is $10 per security.
Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable structured notes linked to the worst performing of the Russell 2000® and S&P 500® indices. Each security has a $1,000 stated principal amount, a 150% participation rate for upside, an automatic early redemption feature with a first determination date of August 4, 2027, and a stated maturity of August 3, 2029. If not called early, payments at maturity depend on the final levels of the underliers relative to downside thresholds set at 70% of initial levels; losses can be up to the full principal based on the worst performing underlier. Payments are unsecured obligations of MSFL and are fully guaranteed by Morgan Stanley; all payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is offering structured, principal‑at‑risk, auto‑callable notes due August 5, 2030, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an original issue price of $1,000. The notes reference the worst performing of the EURO STOXX 50®, Russell 2000® and S&P 500® indices, feature automatic early redemption on the first determination date (early redemption payment set on pricing date, estimated in examples at ~$1,310) and a 150% participation rate for upside if all underliers finish above their initial levels. If any underlier finishes below its downside threshold (70% of initial), investors suffer a loss equal to the decline of the worst performing underlier; payments are subject to Morgan Stanley credit risk. The estimated value on the pricing date is approximately $973.00 per security.
Morgan Stanley Finance LLC offers Structured Investments Enhanced Buffered Jump Securities with Downside Factor linked to the EURO STOXX 50® Index, priced at $1,000 per security. The securities mature on July 16, 2027 and pay a fixed upside payment of $96.50 per security (9.65%) if the final level is at or above the buffer. If the final level is below the buffer level (10% buffer, buffer level 5,695.281), investors suffer a loss equal to 1.1111% of principal for each 1% decline beyond the buffer and could lose their entire investment. The initial level is 6,328.09, pricing date was July 1, 2026, and the estimated value on the pricing date was approximately $985.50 per security. All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley; market and credit risk apply.
Morgan Stanley Finance LLC is offering Trigger PLUS Principal-at-Risk securities due August 5, 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 estimated value on the pricing date of approximately $962.50. At maturity the payoff is based solely on the worst performing underlier: investors may receive the stated principal plus a 400% leveraged upside (capped at a maximum payment of $1,860–$1,910), receive only principal if declines remain above the 70% downside threshold, or suffer proportional principal losses (1% loss per 1% decline below the threshold), potentially losing the entire investment. All payments are subject to MSFL's and Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC published a preliminary pricing supplement for Trigger PLUS securities due August 5, 2031
The securities are principal‑at‑risk notes linked to the S&P 500® Futures Excess Return Index, issued at a stated principal amount of $1,000 per security. The document states an estimated value on the pricing date of approximately $965.80 per security and a leverage factor to be set on the pricing date of 225% to 230%. The notes repay principal at maturity only if the final index level is at or above the 70% downside threshold; below that level investors lose 1% for each 1% decline in the underlier, and the payment could be zero. All payments are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley.
Morgan Stanley Finance LLC is offering contingent income auto-callable securities due August 2, 2029, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and pays a contingent coupon only if all three underliers meet coupon barrier tests on observation dates. The securities are linked to the worst performing of the Dow Jones Industrial, the EURO STOXX 50® and the Russell 2000®, include an automatic early redemption feature on specified determination dates, and expose holders to full principal loss if the worst performing underlier finishes below its downside threshold.
Morgan Stanley Finance LLC priced contingent income auto-callable notes linked to the worst performing of the EURO STOXX 50®, Russell 2000® and S&P 500®. Each note has a $1,000 stated principal amount, a final observation date of July 30, 2029 and a maturity date of August 2, 2029. Coupons are contingent and paid only if each underlier is at or above an 80% coupon barrier on observation dates; downside protection is limited to a 70% threshold, below which investors lose principal in proportion to the worst performing underlier. The securities may auto‑redeem on scheduled redemption determination dates if all underliers meet 100% call thresholds; estimated value on pricing date was approximately $950.60 per security. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering structured, principal-at-risk securities due July 31, 2031, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and is linked to the worst performing of the EURO STOXX 50®, Russell 2000® and S&P 500® indices. The notes may be automatically redeemed early on the first determination date of August 4, 2027 for an early redemption payment fixed on the pricing date. If not redeemed early, final payoff depends on the worst performing underlier: investors can receive the stated principal plus an upside payment (participation rate 150%) if all underliers finish above their initial levels, the stated principal if all underliers finish at or above their 70% downside thresholds, or a reduced cash payment that declines 1% for each 1% decline in the worst performing underlier (potentially to zero) if the worst underlier finishes below its downside threshold. All payments are subject to Morgan Stanley Finance LLC and Morgan Stanley credit risk.
Morgan Stanley Finance LLC offers structured, principal-at-risk notes due July 31, 2031, fully guaranteed by Morgan Stanley, linked to the worst performing of the Nasdaq-100 Technology Sector, Russell 2000 and S&P 500.
The securities have a $1,000 stated principal amount per security, an automatic early redemption feature (first determination date August 4, 2027) and a participation rate of 150% for upside at maturity. Downside protection is limited: downside threshold levels are 70% of initial levels and losses equal the percentage decline of the worst performing underlier below that threshold.
Morgan Stanley Finance LLC is offering structured, principal-at-risk notes due July 31, 2031 that are fully guaranteed by Morgan Stanley. Each security has a $1,000 original issue price and an estimated value on the pricing date of approximately $895.70. The notes pay a contingent coupon (annual rate to be set on the pricing date, indicated between 12.50% and 13.50% in the preliminary terms) only if the closing level of the S&P® 500 Futures 40% Intraday 4% Decrement VT Index meets the coupon barrier on observation dates.
Automatic early redemption may occur on specified redemption determination dates beginning July 28, 2027 if the underlier is at or above the call threshold (100% of the initial level). At maturity investors either receive the stated principal if the final level is at or above the downside threshold (60% of the initial level) or a principal payment equal to the performance factor (final level/initial level), exposing investors to full downside with possible loss of principal.
Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable notes due July 31, 2031 that are fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and pays a contingent coupon only if the underlier meets a 60% coupon barrier on observation dates; the contingent coupon rate will be set on the pricing date and is indicated to be between 11.00% and 12.00% per annum in this preliminary pricing supplement.
The notes reference the S&P® 500 Futures 40% Intraday 4% Decrement VT Index, include an intraday rebalancing and a 4.0% per annum decrement to the index level, and may be automatically redeemed early if the underlier is at or above the call threshold on scheduled redemption determination dates beginning July 28, 2027. If not called, maturity pay‑out depends on the final level versus a 60% downside threshold; if below that threshold, investors suffer proportional principal loss and could lose the entire principal. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable notes due July 31, 2031 tied to the S&P400 Futures 40% Intraday 4% Decrement VT Index. Each security has a $1,000 stated principal amount and an estimated value on the pricing date of approximately $898.40. The notes may automatically redeem on scheduled determination dates beginning August 4, 2027 if the underliers closing level is at or above the call threshold (90% of the initial level). If not auto-redeemed, maturity payoffs range from a fixed positive payment if the final level meets the call threshold to full principal return if above the downside threshold (60% of initial level), or a proportionate loss if below the downside threshold. All payments are unsecured obligations of MSFL and are fully guaranteed by Morgan Stanley and are subject to the issuers credit risk.
Morgan Stanley Finance LLC offers structured, principal-at-risk notes due August 2, 2029, fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 per security and an early redemption feature tied to the Russell 2000® Index and the S&P 500® Index.
The securities have a 150% participation rate in the upside of the worst performing underlier if final levels exceed initial levels, a downside threshold of 70% of initial level, automatic early redemption if both underliers meet 100% call thresholds on the first determination date, and equity‑linked downside exposure that can result in full loss of principal if the worst performing underlier declines below its downside threshold.
The issuer, Morgan Stanley Finance LLC, is offering structured, principal‑at‑risk buffered jump securities with an auto‑call feature due August 2, 2029. Each security has a $1,000 stated principal amount and an original issue price of $1,000. The securities reference the Nasdaq‑100® Technology Sector, the Russell 2000® Index and the S&P 500® Index and are linked to the worst performing underlier. They include a 20% buffer, a 150% participation rate on upside at maturity, and a minimum payment at maturity of 20% of principal. An automatic early redemption is possible on the first determination date (August 4, 2027) for a fixed early redemption payment (estimated between $1,137.50 and $1,147.50). All payments are subject to Morgan Stanley’s credit risk and tax treatment is described as uncertain in the document.
Morgan Stanley Finance LLC offers a series of principal-at-risk, contingent-income, memory buffered auto-callable securities due July 31, 2031, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 issue price and an estimated value on the pricing date of approximately $904.50.
The notes reference the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index, pay contingent coupons at an annual rate of 10.00% to 11.00% if the underlier meets the coupon barrier on observation dates, are automatically redeemable if the underlier is ≥ the call threshold (90% of the initial level) on a redemption determination date, and return principal at maturity only if the final level is ≥ the buffer level (85% of the initial level). If the final level is below the buffer level, payment at maturity equals the stated principal × (performance factor + buffer amount), subject to a minimum payment at maturity of 15% of principal.
Morgan Stanley Finance LLC offers Principal-at-Risk auto-callable securities payable July 31, 2031. Each security has a $1,000 stated principal amount and an issue price of $1,000. The securities pay a contingent coupon (annual rate to be set on the pricing date of 9.35% to 10.35%) only if the underlier meets the coupon barrier on observation dates. The underlier is the S&P U.S. Equity Momentum 40% VT 4% Decrement Index. Automatic early redemption is possible beginning with the first redemption determination date on July 28, 2027. At maturity on July 31, 2031, if the final level is at or above the buffer level (85% of the initial level), investors receive principal; if below the buffer level, the payment equals stated principal × (performance factor + 15% buffer), subject to a 15% minimum payment at maturity. The pricing-date estimated value was approximately $901.70 per security. All payments are subject to MSFL and Morgan Stanley credit risk.
The document prices Buffered Jump Securities with an Auto-Callable Feature issued by Morgan Stanley Finance LLC and fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount, a strike date and pricing date of July 28, 2026, an original issue date of July 31, 2026 and a maturity date of July 31, 2031.
The securities reference the S&P U.S. Equity Momentum 40% VT 4% Decrement Index. A buffer amount of 15% protects losses up to that decline; if the final level is below the buffer, investors lose 1% of principal for each 1% decline beyond the buffer. The first determination date for automatic early redemption is July 29, 2027; the call threshold is 100% of the initial level. The pricing-date estimated value is approximately $906.90 per security.
Morgan Stanley Finance LLC priced a primary offering of principal-at-risk, buffered jump securities due July 31, 2031, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an estimated value on the pricing date of approximately $907.10. The notes feature an automatic early redemption mechanism beginning on the first determination date, with scheduled monthly determination dates and early redemption payments that correspond to roughly 17.00–18.00 per annum (amounts to be fixed on the pricing date). At maturity investors may receive a fixed positive payment (up to $1,850.00 per security if final level >= call threshold), return of principal, or a reduced payment reflecting losses beyond a 20 buffer (minimum payment at maturity is 20 of principal). All payments are subject to Morgan Stanley’s credit risk. The securities do not pay interest and are designed for investors willing to risk principal for possible enhanced early or final payments.
Morgan Stanley Finance LLC offers Structured Investments — Buffered Jump Securities with an Auto-Callable feature due July 31, 2031
The securities are issued at a stated principal amount of $1,000 per security and have an estimated value on the pricing date of approximately $904.80. They pay no regular interest, include a 15% buffer (buffer level = 85% of the initial level) and a call threshold at 90% of the initial level. If a determination date meets or exceeds the call threshold, the notes are automatically redeemed for fixed early redemption payments (scheduled from July 29, 2027 through various dates), otherwise payment at maturity depends on the final level relative to the buffer and may result in losses (downside exposure of 1% per 1% decline beyond the buffer, subject to a 15% minimum payment). All payments are unsecured and guaranteed by Morgan Stanley and are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is offering Principal at Risk, contingent‑coupon, memory buffered auto‑callable securities due July 31, 2031, fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an estimated value on the pricing date of approximately $901.80.
The notes pay a contingent coupon (annual rate to be set on the pricing date between 12.25% and 13.25%) 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 on observation dates. They can be automatically redeemed early if the index closes at or above the call threshold on a redemption determination date. If not redeemed, principal at maturity is protected only up to a 15% buffer; final payments below the buffer expose investors to proportional principal loss, subject to a minimum payment of 15% of principal.
Morgan Stanley Finance LLC is offering structured, principal‑at‑risk notes due July 31, 2031, fully and unconditionally guaranteed by Morgan Stanley. The notes pay a contingent coupon (to be set on the pricing date) and feature an automatic early redemption if the underlier meets the call threshold.
The underlier is the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. Key disclosed mechanics include a contingent coupon range of 10.60%–11.60% (annual) (final rate set on pricing), a coupon barrier at 70% of the initial level, a buffer of 15% (buffer level = 85% of initial), a call threshold at 100% of the initial level, an estimated value on the pricing date of approximately $901.50 per security, and a minimum payment at maturity of 15% of principal. The offering documents warn that investors may lose a substantial portion of principal if the final level is below the buffer amount and that all payments are subject to issuer credit risk.
Morgan Stanley Finance LLC offers Structured Investments — Buffered Jump Securities with an auto-callable feature, fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount, an estimated value on the pricing date of approximately $903.60, a 15% buffer and a minimum payment at maturity equal to 15% of principal. The securities pay no interest, may auto‑redeem on scheduled determination dates if the underlier meets the call threshold (85% of the initial level), and mature on July 31, 2031 with final determination on July 28, 2031. If not redeemed early and the final level is below the buffer, investors lose 1% of principal for each 1% decline beyond the buffer. All payments are subject to the issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering principal‑at‑risk auto‑callable notes linked to the Nasdaq‑100 and Nasdaq‑100 Technology Sector. Each security has a $1,000 stated principal amount and an original issue price of $1,000. The securities can automatically redeem on scheduled determination dates for increasing fixed early redemption payments (first possible redemption July 14, 2027). If not redeemed, maturity payments depend on the final levels of each underlier relative to a 95% call threshold and an 80% downside threshold; the payment at maturity can be the stated principal, a fixed final payment of $1,480, or a reduced amount tied to the worst performing underlier (potentially zero). All payments are subject to the issuer’s and guarantor’s credit risk. The issuer estimates the securities' value on the pricing date at approximately $939.90.
Morgan Stanley Finance LLC is offering dual directional, principal‑at‑risk notes linked to Marvell Technology, Inc. common stock with automatic early redemption and maturity protections that depend on the underlier's closing levels. Each security has a stated principal amount of $1,000 and an estimated value on the pricing date of approximately $943.80.
The securities are callable on a series of determination dates beginning July 23, 2027, with scheduled early redemption payments that rise over time (for example, $1,354.00 on the first early redemption date and $2,032.50 on the last scheduled early redemption before maturity). If not called, the payment at maturity can be $2,062.00 if the final level is at or above the call threshold, a limited positive payout if the final level is between the call threshold and the downside threshold, or a pro rata loss (performance factor) if the final level is below the downside threshold. All payments are subject to Morgan Stanley's credit risk and U.S. federal tax treatment is described as uncertain.
Morgan Stanley Finance LLC is offering Trigger GEARS linked to a weighted basket of global indices maturing July 17, 2031, fully guaranteed by Morgan Stanley. Each $10 Security returns $10 plus any positive Basket Return multiplied by an Upside Gearing (1.10–1.29 set on the Trade Date). If the Final Basket Level is below the Downside Threshold (75 of initial 100), holders can lose a portion or all of principal; if the Final Basket Level is at or above the threshold and the Basket Return ≤ 0, principal is returned at maturity. Issue Price is $10.00; estimated Trade Date value ~ $9.167. Payments depend on the Basket’s Closing Levels on the Final Valuation Date and are subject to issuer credit risk, Calculation Agent discretion and possible postponement for Market Disruption Events.
Morgan Stanley Finance LLC is issuing Dual Directional Buffered PLUS principal-at-risk securities with an aggregate stated principal of $4,749,000 (stated principal $1,000 per security) and an original issue price of $1,000 per security. The securities mature on June 29, 2028 and are linked to the worst performing of the Dow Jones Industrial Average and the S&P 500® Index. Returns are determined by the worst performing underlier: upside participation uses a 105% leverage factor, depreciations above a 15% buffer produce losses at a 1:1 rate, and the minimum payment at maturity is 15% of principal. The estimated value on the pricing date was $992.20 per security. All payments are subject to MSFL credit risk and guaranteed by Morgan Stanley. Sales are targeted to fee-based advisory accounts and MS & Co. acts as agent.
Morgan Stanley Finance LLC is offering structured, principal-at-risk notes fully guaranteed by Morgan Stanley with a stated principal amount of $1,000 per security and an aggregate principal amount of $400,000. The securities are linked to the worst performing of Micron Technology, the Roundhill Memory ETF (DRAM) and TSMC ADS.
The pricing and strike dates are June 26, 2026, original issue date July 1, 2026, first determination date for automatic early redemption July 2, 2027, and maturity June 29, 2029. An automatic early redemption yields an early redemption payment of $2,233. If not called, maturity payoffs depend on the worst-performing underlier: investors receive principal plus an upside payment if final levels exceed initial levels (participation rate 300%), return of principal if final levels stay at or above downside thresholds (70% of initial), or a reduced payment pro rata to the worst-performing underlier (loss of 1% per 1% decline) and could lose the entire investment. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC is offering Trigger Autocallable GEARS linked to the Russell 2000® Index with an Issue Price of $10.00 per Security. Key terms: Upside Gearing 1.40–1.63 (set on the Trade Date), Call Return Rate 12.00% per annum, Autocall Barrier 100% of the Initial Level, Downside Threshold 75% of the Initial Level. Trade Date is July 15, 2026, Settlement July 17, 2026, Observation Date July 21, 2027, Final Valuation Date July 15, 2031, and Maturity July 17, 2031. Morgan Stanley fully and unconditionally guarantees the Securities; all payments remain subject to Morgan Stanley’s credit risk. The estimated value on the Trade Date is approximately $9.588 per Security.
Morgan Stanley Finance LLC priced a contingent-income, auto-callable note offering fully and unconditionally guaranteed by Morgan Stanley. Each note has a $1,000 stated principal and an original issue price of $1,000. The notes pay a contingent coupon of 11.50% per annum on observation dates when all three underliers meet coupon barriers and feature automatic early redemption beginning on July 8, 2027. If not called, payment at maturity on July 11, 2031 depends on the worst performing underlier: full principal is returned only if each underlier is at or above its 60% downside threshold; otherwise investors lose an amount proportional to the decline of the worst performing underlier. The estimated value on the pricing date was approximately $931.40 per security. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering Structured Investments Market-Linked Notes due July 1, 2031, fully and unconditionally guaranteed by Morgan Stanley, with an aggregate principal amount of $3,798,000 and a stated principal amount of $1,000 per note. The notes pay no interest, have a 112% participation rate in positive basket performance, an estimated value on the pricing date of $951.20 per note, an issue price of $1,000 per note, and mature on July 1, 2031 (observation date June 26, 2031). All payments depend on the issuer’s creditworthiness and the final closing level of the ten-stock basket on the observation date.
Morgan Stanley Finance LLC priced an offering of principal-at-risk, auto-callable market-linked securities linked to the lowest performing of the common stock of Broadcom Inc., class A common stock of Alphabet Inc. and the common stock of Netflix, Inc..
Each security has a face amount of $1,000, an estimated value on the pricing date of $940.20, a 300% participation rate, a call payment of at least $1,450 (approximately 45.00% call premium), a pricing date of July 20, 2026 and a scheduled maturity of July 25, 2029. The offering price to the public is $1,000 per security, agent commission up to $25.75 per security and net proceeds to issuer of $974.25 per security. The securities expose investors to downside risk if the lowest performing underlying stock falls below its 50% threshold and are fully subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is offering Trigger Autocallable Notes linked to the Russell 2000® Index with a Trade Date of July 2, 2026, Settlement on July 8, 2026 and a scheduled Maturity of July 8, 2031. The securities pay no interest, are automatically callable on quarterly Observation Dates beginning July 12, 2027 if the Underlying closes at or above the Initial Level, and return a fixed Call Price if called. Call Return Rates will be set on the Trade Date in the range 9.15%–9.75% per annum. If not called, holders receive principal at maturity only if the Final Level is at or above a Downside Threshold equal to 75% of the Initial Level; otherwise repayment is reduced proportionately to the Underlying Return, potentially to zero. Issue Price is $10.00 and the issuer estimates the Trade Date value at approximately $9.613 per Security. All payments are subject to MSFL’s and Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is offering Autocallable Contingent Coupon (with Memory) Buffered Notes linked to the common stock of Micron Technology, Inc. (the Market Measure) with a $10 principal per unit and an expected term of approximately 1.5 years if not called. The notes pay quarterly contingent coupon payments (with memory) per unit set at between $0.475 and $0.575 (approximately 19.00% to 23.00% per annum) if the Observation Value on each Coupon Observation Date is at or above a Coupon Barrier equal to 60% of the Starting Value. The notes are automatically callable if the Observation Value on any Call Observation Date is at or above the Call Value (equal to 100% of the Starting Value); if called, holders receive principal plus the then-due contingent coupon. At maturity, if not called, holders receive full principal plus any final contingent coupon only if the Ending Value is at or above the Threshold Value (60% of the Starting Value); otherwise they have 1-to-1 downside beyond that threshold, exposing up to 60.00% of principal to loss. Payments are subject to MSFL and Morgan Stanley credit risk. The initial estimated value on the pricing date is approximately $9.57 per unit; public offering price is $10.00 per unit.
Morgan Stanley Finance LLC is offering contingent income auto-callable securities fully and unconditionally guaranteed by Morgan Stanley with an aggregate principal amount of $1,186,000 and a stated principal amount of $1,000 per security. The securities price at $1,000 with an estimated value on the pricing date of $965.60 and an original issue date of July 1, 2026. They pay a contingent coupon at an annual rate of 18.50% on each coupon payment date only if the closing level of the VanEck® Semiconductor ETF (the underlier) on the related observation date is at or above the coupon barrier level ($468.237, 70% of the initial level). Automatic early redemption can occur on specified redemption determination dates if the closing level meets or exceeds the call threshold ($602.019, 90% of the initial level). At maturity on March 24, 2028, if not redeemed earlier, holders receive principal only if the final level is at or above the downside threshold ($401.346, 60% of initial level); otherwise payment equals the stated principal multiplied by the performance factor and could be significantly less or zero. All payments are subject to issuer and guarantor credit risk.