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 offers securities with an aggregate principal amount of $500,000. These are contingent income, memory buffered, auto-callable principal-at-risk notes linked to Super Micro Computer, Inc. common stock, with a $1,000 stated principal per security, a 39.00% annual contingent coupon, automatic early‑redemption mechanics, a 60% buffer level and maturity on July 13, 2027.
The securities pay coupons only if the underlier meets observation‑date barriers, can be auto‑redeemed on specified redemption determination dates, and expose holders to credit risk of MSFL/Morgan Stanley and to potential loss of principal if the final level is below the buffer.
Morgan Stanley Finance LLC priced Buffered Participation Securities linked to the S&P 500® Index, offering an aggregate principal amount of $1,008,000 in $1,000-denominated notes. The securities mature on December 30, 2027 and provide 100% participation in upside subject to a $1,195 per-note cap and a 15% buffer below the initial level of 7,354.02.
The notes pay no interest, have an estimated value of $989.00 on pricing, are unsecured obligations of MSFL and are fully guaranteed by Morgan Stanley. If the final index level is below the buffer, principal is reduced 1% for each 1% decline beyond the buffer; the minimum payment at maturity is 15% of principal.
Morgan Stanley Finance LLC is offering Principal at Risk Callable Contingent Income Securities due June 29, 2029, fully guaranteed by Morgan Stanley. The securities pay a contingent coupon of 19.75% per annum only if each underlier meets its coupon barrier on observation dates and are linked to the worst performing of URA, SLV and GLD. The issue price is $1,000 per security (stated principal) with an aggregate principal amount of $400,000. Coupons may be unpaid, principal may be reduced pro rata to the worst performing underlier at maturity, and the issuer may call early based on the output of a risk neutral valuation model. All payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC priced contingent income auto-callable securities linked to Netflix, Inc. The securities have a stated principal amount of $1,000 per security and an aggregate principal amount of $164,000. They pay a contingent coupon at an annual rate of 11.75% only if the closing level of Netflix is at or above the coupon barrier on each observation date. The securities may be automatically redeemed early if the closing level meets or exceeds the call threshold of $73.81 on any redemption determination date, beginning with the first redemption determination date of December 28, 2026. If not redeemed, at maturity on July 29, 2027 investors receive principal only if the final level is at or above the downside threshold of $50.191 (68% of the initial level); otherwise payment is reduced pro rata by the performance factor and could be zero. All payments are subject to the issuers credit risk. The estimated value on the pricing date was $965.20 per security.
Morgan Stanley Finance LLC priced Enhanced Buffered Jump Securities linked to the S&P 500® Futures Excess Return Index with a $1,000 stated principal amount per security and an aggregate principal amount of $969,000. The securities mature on June 29, 2029 and feature a fixed $235 upside payment (23.50%) if the final level is at or above the buffer level and a 25% downside buffer (buffer level = 441.803, initial level = 589.07). If the final level is below the buffer level, investors lose 1% for each 1% decline beyond the buffer, subject to a minimum payment at maturity of 25% of principal. The estimated value on the pricing date was $988.10 per security and the issue price to the public was $1,000 (agent commission/fees shown as $6 per security). Payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley; all payments remain subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC priced Principal at Risk auto-callable securities tied to Marvell Technology, Inc. common stock offering an initial issue price of $1,000 per security and an aggregate principal amount of $1,417,000. The notes pay a contingent coupon at an annual rate of 43.00% on each interest period only if the underlier meets the coupon barrier on observation dates and include automatic early redemption if the closing level equals or exceeds the call threshold of $266.77 on any redemption determination date. At maturity, if not redeemed early and the final level is below the downside threshold of $133.385 (50% of the initial level), investors suffer proportional principal loss; if at or above that level, investors receive principal. All payments are unsecured and subject to MSFL's and Morgan Stanley's credit risk. The estimated value on the pricing date was $966.20 per security and the agent’s commission was $29.50 per security.
The issuer, Morgan Stanley Finance LLC (guaranteed by Morgan Stanley), is offering contingent income auto-callable securities linked to the common stock of Five Below, Inc.. Each security has a $1,000 stated principal amount; aggregate issuance is $3,160,000. The securities pay a contingent coupon at an annual rate of 12.50% on observation dates when the closing level of the underlier is at or above the coupon barrier level. The notes are auto-callable if the closing level is at or above the call threshold on any redemption determination date, paying principal plus the contingent coupon. At maturity, if not redeemed and the final level is below the downside threshold, payment equals the stated principal amount multiplied by the performance factor, exposing investors to a full loss of principal if the underlier declines sufficiently. All payments are subject to the issuer’s credit risk.
Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable structured securities due June 29, 2029, fully guaranteed by Morgan Stanley. The securities are sold at an issue price of $1,000 per security with an aggregate principal amount of $550,000.
The notes are linked to the worst performing of the Dow Jones Industrial, Nasdaq-100 and S&P 500. They carry a 150% participation rate on upside, an early redemption payment of $1,186 on the first determination date (June 29, 2027), and a downside threshold at 70% of each initial level. Estimated value on the pricing date was $971.70 per security.
Morgan Stanley Finance LLC is offering Principal at Risk Buffered Participation Securities due July 1, 2031, fully and unconditionally guaranteed by Morgan Stanley. The securities are linked to the worst performing of the Dow Jones Industrial Average and the S&P 500, provide a 20% buffer and a minimum payment at maturity of 20% of principal.
Each security has a stated principal amount of $1,000, an issue price of $1,000 and an estimated value on the pricing date of $934.50. The participation rate is 103%; losses beyond the 20% buffer are borne 1% for 1% by investors. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering $4,437,000 aggregate principal of Contingent Income Auto-Callable Securities due June 29, 2029, linked to the common stock of Halliburton Company and fully 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 quarterly coupon at an annual rate of 12.10% only when the determination closing price on a determination date is at least $20.526 (the downside threshold, equal to 60% of the initial share price of $34.21). If an early call occurs on any of the first eleven determination dates when the closing price is at or above the initial share price, holders receive the stated principal plus the applicable contingent coupon. If not called and the final share price is below the downside threshold, payment at maturity is the stated principal multiplied by the share performance factor and could be less than 60% of principal or zero. The issuer estimates the securities' value on the pricing date as $964.80 per security. The proceeds will be used for general corporate purposes and all payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC is offering Principal at Risk securities fully and unconditionally guaranteed by Morgan Stanley with an aggregate principal amount of $244,000. The notes have a stated principal of $1,000 per security, mature on July 1, 2031 and may be automatically redeemed on scheduled determination dates if the underlier meets the call threshold level.
The underlier is the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index (initial level 1,335.63), the call threshold is 1,202.067 (90% of initial) and the buffer level is 1,135.286 (85% of initial). Early redemption payments correspond to approximately 14.50% per annum; payment at maturity is tiered (up to $1,725.00 if final level ≥ call threshold, return of principal if final level ≥ buffer, or a pro rata loss below the buffer subject to a 15% minimum payment).
Morgan Stanley Finance LLC is offering Principal at Risk structured notes due June 29, 2029 linked to the worst performer of the Nasdaq-100 Index, the State Street Technology Select Sector SPDR ETF and the VanEck Semiconductor ETF, with a stated principal amount of $1,000 per security and an aggregate offering of $1,132,000.
The securities pay a contingent coupon at an annual rate of 17.00% only when the closing level of each underlier meets its coupon barrier on observation dates, are callable based on a risk-neutral valuation model beginning December 31, 2026, and return principal at maturity only if each underlier is at or above its 60% downside threshold; otherwise investors lose in proportion to the worst-performing underlier. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC priced an offering of Autocallable Buffered Russell 2000® Index-Linked Notes fully guaranteed by Morgan Stanley. Each note has a $1,000 face amount, does not pay interest, and may be automatically called between 12 and 14 months after trade date for a cash payment equal to $1,000 plus a call premium expected between 11.76% and 13.80%. If not called, maturity is expected at approximately 36 months; payments depend on Russell 2000® performance with a 150% upside participation rate, a 5.00% buffer, and a Buffer Rate of approximately 105.26%. The issuer estimates the trade-date estimated value at approximately $964.10 per note and the public price is $1,000 with agent commissions of 3.00% per note.
Morgan Stanley Finance LLC offers Principal at Risk structured notes—callable contingent income securities due June 29, 2029—fully and unconditionally guaranteed by Morgan Stanley. The offering is issued at $1,000 per security with an aggregate principal amount of $400,000 and an estimated value on the pricing date of $976.30 per security. The notes pay a contingent coupon of 12.20% per annum on each coupon payment date only if the closing level of each of three ETF underliers (XLF, XLV, XHB) is at or above its coupon barrier on each related observation date. If not redeemed, principal repayment at maturity depends on the worst performing underlier relative to its 70% downside threshold; losses can equal the full initial investment. Early redemption may occur on specified redemption dates if a risk neutral valuation model indicates redemption is economically rational, and all payments remain subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC priced structured notes — Enhanced Buffered Jump Securities linked to the Nasdaq-100 Index with a $1,000 stated principal per security and $1,000,000 aggregate principal. The securities mature on July 13, 2027 with an observation date of July 8, 2027.
At maturity, if the final level is ≥ the buffer level (23,552.256), holders receive the stated principal plus a fixed $95 upside payment. If the final level is below the buffer, losses occur at a 1.25% downside factor for each 1% decline beyond the 20% buffer; there is no minimum payment. Estimated value on the pricing date was $988.00 and the issue price was $1,000 (agent commission $10, proceeds to issuer $990 per security). All payments are subject to MSFL/Morgan Stanley credit risk.
Morgan Stanley Finance LLC prices principal-at-risk, auto-callable structured securities. The pricing supplement offers 320 securities at a $1,000 stated principal amount each (aggregate $320,000) tied to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. The notes may auto-redeem on scheduled determination dates beginning June 29, 2027 if the underlier meets the call threshold of 1,335.63, delivering fixed early redemption payments that escalate across 48 potential determination dates. At final maturity on July 1, 2031, payments depend on the final index level relative to the initial level (1,335.63) and an 85% buffer level (buffer amount 15%), with a minimum payment of 15% of principal. All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley and are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC is offering Principal at Risk structured notes due June 13, 2029 linked to the worst performing of the State Street SPDR S&P Metals & Mining ETF (XME) and the VanEck Gold Miners ETF (GDX). The securities have a stated principal amount of $1,000 per security, an estimated value on the pricing date of approximately $949.00, and a contingent coupon at an annual rate of 7.25% payable only if both underliers meet coupon barrier levels on observation dates. The notes feature an automatic early redemption if both underliers meet call thresholds on a redemption determination date, a buffer equal to 80% of initial level with a 20% buffer amount, and a minimum payment at maturity of 20% of principal. Principal is at risk: if the final level of the worst performing underlier is below its buffer, investors lose 1% for each 1% decline beyond the buffer. All payments are subject to the credit risk of MSFL and guaranteed by Morgan Stanley.
Morgan Stanley Finance LLC priced a principal-at-risk, auto-callable note with a $1,000 stated principal per security and an aggregate issuance of $611,000. The notes reference the S&P® 500 Futures 40% Intraday 4% Decrement VT Index, offer a 325% participation rate on upside at maturity, and feature an automatic early redemption on the first determination date if the underlier equals or exceeds the call threshold. If not auto-redeemed, payments at maturity depend on the final index level relative to the initial level and a 50% downside threshold, exposing investors to full downside below that threshold; the estimated value on pricing date was $941.50 per security.
Morgan Stanley Finance LLC is offering Principal at Risk notes tied to the S&P 500® Futures Excess Return Index with a stated principal of $1,000 per security and an aggregate principal amount of $500,000. The securities pay no interest and mature on June 29, 2028.
At maturity the payout is: if the final level is >= the buffer level, you receive the stated principal plus an upside payment of $133 (13.30%); if the final level is below the buffer level you lose 1% of principal for each 1% decline beyond the 25% buffer, subject to a minimum payment of 25% of principal. All payments are subject to Morgan Stanley's credit risk. The estimated value on the pricing date was $982.50 per security.
Morgan Stanley Finance LLC is offering principal-at-risk structured notes linked to the worst performing of the Dow Jones Industrial, Nasdaq-100 and Russell 2000. Each security has a $1,000 stated principal amount and an original issue price of $1,000.
The notes pay a contingent coupon at an annual rate of 12.00% on each coupon payment date only if the closing level of each underlier is at or above its coupon barrier (75% of initial level) on the related observation date. The notes are callable beginning January 14, 2027 if a risk neutral valuation model indicates redemption is economically rational. At maturity on July 13, 2029, investors receive principal only if each underlier is at or above its downside threshold (70% of initial level); otherwise payment equals principal multiplied by the worst performing underlier's performance factor.
The pricing supplement describes a structured note issued by Morgan Stanley Finance LLC, guaranteed by Morgan Stanley, with a stated principal of $1,000 per security and an aggregate offering of $1,547,000. The securities pay no interest, offer a fixed $93 upside payment at maturity if the worst performing of the Nasdaq-100, Russell 2000 and S&P 500 is at or above a 60% downside threshold, and otherwise return an amount tied to the percentage performance of the worst performing underlier (potentially zero). Pricing and strike dates are June 26, 2026, original issue date July 1, 2026, observation date August 2, 2027 and maturity August 5, 2027. The estimated value on pricing was $987.80 per security and all payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering callable, principal-at-risk structured notes due December 30, 2027 linked to the worst performing of the Nasdaq-100 Technology Sector Index and the Russell 2000 Index. The offering totals $503,000 aggregate principal and each security has a stated principal amount of $1,000.
The securities pay a contingent coupon at an annual rate of 12.35% on scheduled coupon dates only if the closing level of each underlier is at or above its coupon barrier (70% of the initial level) on the related observation date. If not redeemed early, at maturity investors receive principal only if both underliers finish at or above their downside thresholds (70% of initial). If the worst performing underlier finishes below its downside threshold, payment at maturity equals the stated principal multiplied by that underlier’s performance factor, exposing investors to potential loss of principal down to zero. An issuer-determined risk neutral valuation model can trigger whole-issue redemptions beginning on the first redemption date of October 1, 2026. All payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is offering principal-at-risk structured notes tied to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index with automatic early redemption and a maturity of July 29, 2031. Each security has a stated principal amount of $1,000 and an initial issue price of $1,000. The securities feature a 15% buffer (buffer level = 85% of the initial level) and a minimum payment at maturity of 15% of principal.
The notes can auto‑redeem on scheduled determination dates beginning July 30, 2027, with early redemption payments shown per determination date (ranging from $1,180 to $1,885). If not redeemed, maturity payoffs depend on the final level relative to the call threshold and buffer: full stated principal, fixed positive payment, or principal reduced pro rata beyond the buffer. All payments are subject to issuer and guarantor credit risk.
The Morgan Stanley Finance LLC pricing supplement offers Buffered Jump Securities with Auto-Callable Feature linked to the S&P 500® Index. Each security has a $1,000 stated principal and issue price, an estimated value of approximately $977.70 on the pricing date, and a participation rate of 125%. The securities may be automatically redeemed on the first determination date, July 8, 2027, for an early redemption payment of $1,094. If not called, maturity is July 7, 2028 with final determination on July 3, 2028. A 10% buffer (buffer level = 90% of initial level) protects against the first 10% of index decline; losses beyond the buffer reduce principal dollar-for-dollar subject to a 10% minimum payment at maturity. All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley; payments are subject to issuer credit risk. Commissions of $17.50 per security reduce proceeds to the issuer to $982.50 per security.
Morgan Stanley Finance LLC priced Structured Investments Enhanced Buffered Jump Securities due July 15, 2027 tied to the Nasdaq-100 Index® with principal at risk. Each security has a $1,000 stated principal amount and a fixed upside payment of $107.60 (10.76%) if the final level is at or above the buffer. The securities provide a 15% buffer (buffer level 25,308.538) and apply a downside factor of 1.1765 to declines beyond the buffer, exposing investors to losses that could eliminate principal. Key dates: strike date June 29, 2026, pricing date June 30, 2026, observation date July 12, 2027, maturity July 15, 2027. The estimated value on the pricing date was approximately $986.80 per security; the issue price is $1,000 with placement fees of $10 (proceeds to issuer $990 per security). Payments are unsecured obligations of MSFL and unconditionally guaranteed by Morgan Stanley; all payments are subject to credit risk.
Morgan Stanley Finance LLC offers structured Buffered Jump Securities (principal at risk) due April 26, 2029, fully guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and an estimated value on the pricing date of approximately $950.60.
The notes are linked to the worst performing of the State Street SPDR S&P Metals & Mining ETF (XME) and the VanEck Gold Miners ETF (GDX). They feature automatic early redemption on scheduled determination dates for fixed early redemption payments (first such payment is $1,050.00 on January 26, 2027), a 15% buffer, and a payment-at-maturity of $1,275.00 if both underliers finish at or above their buffer levels. If the worst performing underlier finishes below its buffer, investors lose 1% for each 1% decline beyond the buffer, subject to a minimum payment at maturity of 15% of principal.
Morgan Stanley Finance LLC is offering Principal at Risk structured securities — buffered jump securities linked to the Global X Defense Tech ETF, fully and unconditionally guaranteed by Morgan Stanley. The offer totals $1,809,000 in aggregate principal at $1,000 per security with an estimated value of $980.80 on the pricing date.
The notes can be automatically redeemed on the first determination date (if the underlier closing level ≥ $58.39) for an early redemption payment of $1,140. If not redeemed, maturity payoffs depend on the final level versus the initial level ($58.39) and a buffer level (85% = $49.632). The participation rate is 125%; downside losses beyond the 15% buffer are amplified by a downside factor of 1.1765, so principal can be significantly reduced or lost.
Morgan Stanley Finance LLC prices structured market-linked securities. This pricing supplement offers principal-at-risk securities with an aggregate face amount of $859,000, a face amount of $1,000 per security and a contingent fixed return of 43.00% ($430). The securities are linked to the lowest performing of Broadcom Inc. and Micron Technology, Inc., have a pricing date of June 26, 2026, an original issue date of July 1, 2026, and mature on July 15, 2027. The offering price per security is $1,000, the estimated value at pricing is $969.50, and proceeds to the issuer per security are shown as $976.75 aggregated to $839,028.25. The payout at maturity depends solely on the lowest performing underlying stock relative to a threshold equal to 50% of its starting price, exposing investors to potential losses greater than 50% and possibly a total loss of principal.
Morgan Stanley Finance LLC is offering principal-at-risk structured notes due July 13, 2029 that are fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an original issue price of $1,000. The notes are auto-callable beginning on the first determination date and are linked to the worst performing of the Dow Jones Industrial Average, Nasdaq-100 Index® and Russell 2000® Index. If not auto-redeemed, maturity payoffs vary: full principal plus an upside payment when each underlier finishes above its initial level; principal only if all underliers finish at or above their 70% downside threshold; or a loss proportional to the worst performing underlier if that underlier finishes below its downside threshold. The participation rate is 150%. The pricing date and strike date are July 10, 2026, with an original issue date of July 15, 2026. All payments are subject to Morgan Stanley's credit risk and the estimated value on the pricing date is approximately $960.40 per security.
Morgan Stanley Finance LLC (MSFL) is offering principal‑at‑risk, market‑linked securities linked to the common stock of Vicor Corporation that mature on June 29, 2029. Each security has a $1,000 face amount, an estimated value at pricing of $935.80, and a July 1, 2026 original issue date. The notes are auto‑callable on July 1, 2027 for a cash call payment of $1,280.00 (a 28.00% call premium). If not called, payoffs depend on Vicor’s ending price versus the starting price of $326.93, with a 150% participation rate to the upside, a 40% buffered downside, and a threshold at $196.158 (60% of the starting price). Pricing date was June 26, 2026; price to public was $1,000 per security with total price to public shown as $1,019,000. The securities are fully and unconditionally guaranteed by Morgan Stanley, do not pay interest or dividends, carry issuer credit risk, and include limited secondary‑market liquidity and complex valuation considerations.
Morgan Stanley Finance LLC priced a principal-at-risk structured note offering totaling $3,805,000, fully and unconditionally guaranteed by Morgan Stanley. The notes mature on July 29, 2027 and reference the Nasdaq-100, Russell 2000 and S&P 500 indices, with the payment at maturity determined by the worst performing underlier on the observation date.
If the final level of each underlier is at or above its downside threshold (60% of initial level), holders receive the $1,000 stated principal plus a fixed $101 upside payment (10.10%). If any underlier is below its downside threshold, the maturity payment equals the stated principal multiplied by the performance factor of the worst performing underlier, exposing investors to full principal loss. Observation date: July 26, 2027. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC priced Principal at Risk callable contingent income securities linked to the worst performer of the NDXT, RTY and SPX indices. Each security has a $1,000 stated principal, 9.65% per annum contingent coupon and an aggregate principal amount of $280,000. Coupons are paid only if all three underliers meet coupon barrier levels on observation dates; principal is repaid at maturity only if all underliers are at or above their 60% downside thresholds, otherwise repayment scales to the worst performing underlier. The issuer may call the notes beginning July 2, 2027 based on a risk-neutral valuation model; all payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable notes due June 29, 2028, linked to the worst-performing of Genuine Parts Company common stock and the S&P 500® Index. The securities pay a fixed coupon of 10.25% per annum monthly, carry a stated principal of $1,000 per security, and may automatically redeem early if both underliers meet call threshold levels on specified redemption determination dates.
If not auto-redeemed, investors receive principal at maturity only if each underlier’s final level is at or above its downside threshold (65% of initial level); otherwise the maturity payment equals the stated principal multiplied by the performance factor of the worst performing underlier, exposing investors to full or substantial principal loss. All payments are unsecured obligations of MSFL and are fully guaranteed by Morgan Stanley and are subject to the issuer’s credit risk.
Morgan Stanley Finance LLC is offering Principal at Risk structured notes due July 1, 2031, fully and unconditionally guaranteed by Morgan Stanley, with an aggregate principal amount of $550,000 and a stated principal amount of $1,000 per security. The securities pay a contingent coupon of 9.65% per annum on scheduled coupon dates only if the underlier's closing level meets or exceeds the coupon barrier level on each observation date. The notes feature automatic early redemption if the underlier’s closing level is at or above the call threshold (initial level 3,248.64) on any redemption determination date, and principal at maturity is either the stated principal or a reduced amount equal to the performance factor multiplied by the stated principal if the final level is below the downside threshold (1,624.32, 50% of initial level). The pricing date and strike date are June 26, 2026, original issue date is July 1, 2026, estimated value on pricing date was $916.00 per security, and the issue price is $1,000 per security (agent commission $42.50 per security).
The pricing supplement describes an offering of Contingent Income Auto-Callable Securities issued by Morgan Stanley Finance LLC, fully guaranteed by Morgan Stanley, linked to the common stock of Netflix, Inc. The securities have a $1,000 stated principal amount, aggregate principal of $323,000, an estimated value on the pricing date of $981.00 per security and mature on July 29, 2027. They pay a contingent coupon at an annual rate of 14.25% only if the closing level of Netflix is at or above the coupon barrier on each observation date. The notes may be automatically redeemed early if Netflix’s closing level meets or exceeds the call threshold on any redemption determination date. If not redeemed, principal at maturity depends on the final level relative to the downside threshold; below that threshold investors suffer proportionate losses to principal, potentially losing all principal.
Morgan Stanley Finance LLC priced Buffered PLUS securities due August 5, 2030, unsecured notes fully and unconditionally guaranteed by Morgan Stanley that reference the worst performing of the Russell 2000® and the S&P 500® indices. Each security has a stated principal amount of $1,000 and a leverage factor of 118%. At maturity investors receive principal plus leveraged upside if the worst performing underlier is above its initial level; full principal if the worst performing underlier is between its initial level and an 80% buffer level; and suffer losses beyond the buffer with a minimum payment at maturity of 20% of principal. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering Principal at Risk securities due July 19, 2029, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an annual contingent coupon of 8.50% payable only if all three underliers meet coupon barrier tests on observation dates. The notes are linked to the worst performing of the Nasdaq-100, Russell 2000 and the State Street SPDR S&P Regional Banking ETF (KRE). Automatic early redemption can occur beginning with the first redemption determination date on January 19, 2027. If not redeemed, principal at maturity depends on the worst performing underlier and can be reduced 1% for each 1% decline below the downside threshold, potentially to zero. All payments are subject to issuer credit risk.
Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable notes linked to Netflix, Inc. common stock, with a stated principal amount of $1,000 per security. The notes pay a contingent coupon (annual rate determined at pricing, indicated 12.00% to 13.00%) only if the underlier meets coupon barriers on observation dates and may be automatically redeemed early if the call threshold is met. If not called, maturity payment depends on the final level versus a downside threshold (both set at 70% of the initial level in this supplement); a final level below that threshold results in principal loss pro rata. The estimated value on the pricing date is approximately $954.90 per security. All payments are subject to MSFL/Morgan Stanley credit risk.
Morgan Stanley Finance LLC offers $250,000 aggregate principal of Principal at Risk securities tied to Tesla, Inc. Each security has a $1,000 stated principal amount and an original issue price of $1,000 per security. The securities pay a contingent coupon at an annual rate of 11.40% on observation dates when the underlier meets the coupon barrier, feature automatic early redemption if the underlier reaches the call threshold on a redemption determination date, and repay principal at maturity only if the final level is at or above the downside threshold; otherwise payment at maturity equals the stated principal multiplied by the performance factor and could be significantly less or zero.
Morgan Stanley Finance LLC priced a primary offering of structured, principal-at-risk notes linked to the S&P 500® Index. The securities have a $1,000 stated principal amount each, aggregate $320,000, an 8.75% upside payment ($87.50) and a 15% buffer with a 1.1765 downside factor. The initial level is 7,354.02, the observation date is July 26, 2027, and maturity is July 29, 2027. The estimated value on the pricing date is $992.50. Investors bear issuer credit risk and may lose their entire investment if the final level is below the buffer.
Morgan Stanley Finance LLC is offering structured Principal at Risk Securities linked to the S&P 500® Index, fully and unconditionally guaranteed by Morgan Stanley. The securities have a stated principal amount of $1,000 per security and do not pay interest.
The notes provide a 30% buffer (buffer level = 70% of initial level) and a 100% participation rate in index appreciation, subject to a maximum payment at maturity of $1,455 per security and a minimum payment of 30% of principal. Observation date is July 10, 2030 with maturity on July 15, 2030. The estimated value on the pricing date is approximately $975.00 per security. All payments are subject to the issuer's and guarantor's credit risk.
Morgan Stanley Finance LLC is offering principal-at-risk notes linked to the S&P 500® Futures Excess Return Index due July 1, 2030. Each security has a stated principal amount of $1,000, an upfront issue price of $1,000 and an estimated value on the pricing date of $988.20. At maturity investors receive the stated principal plus a fixed upside payment of $343.50 if the final level is greater than or equal to the buffer level, or a reduced payment tied to the index performance below the buffer (a 25% buffer applies). The securities do not pay interest, are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley; all payments are subject to issuer credit risk.
Morgan Stanley Finance LLC priced Principal at Risk Auto-Callable Securities linked to Marvell Technology common stock. The offering is $200,000 aggregate at $1,000 per security, with a stated principal of $1,000 and an estimated value of $984.50 on the pricing date. The notes pay a fixed coupon of 19.20% per annum monthly and can be automatically redeemed early if the underlier meets the call threshold of $281.26 on any redemption determination date. At maturity, if the final level is below the downside threshold of $168.756 (60% of initial level), investors’ principal is reduced proportionally (performance factor = final level/initial level). All payments are subject to the issuer’s and guarantor’s credit risk.
Morgan Stanley Finance LLC priced $1,291,000 of 1-year structured Principal at Risk securities tied to the worst performing of the Nasdaq-100 Technology Sector, Russell 2000 and S&P 500 indices. Each security has a stated principal amount of $1,000 and an issue price of $1,000.
The securities pay no interest and provide a fixed $147.50 upside payment (14.75%) if the worst performing underlier finishes at or above its buffer level (85% of its initial level). If the worst performing underlier finishes below its buffer, investors lose 1% of principal for each 1% decline beyond the 15% buffer, subject to a 15% minimum payment at maturity. Estimated value on the pricing date was $988.80 per security; all payments are subject to Morgan Stanley and MSFL credit risk.
Morgan Stanley Finance LLC is offering principal-at-risk, contingent income auto-callable securities with a stated principal amount of $1,000 per security. The notes pay a contingent coupon at an annual rate of 10.00% only when both underliers meet coupon barrier tests and can auto-redeem early if call thresholds are met. Key dates: strike/pricing date: July 28, 2026, original issue date: July 31, 2026, final observation date October 28, 2027 and maturity: November 2, 2027. Coupons and principal are exposed to the worst-performing underlier (Nasdaq-100® Technology Sector and Russell 2000®), coupon and downside barriers are 75% of initial levels, and call thresholds are 100% of initial levels. The estimated value on the pricing date is approximately $953.90 per security; all payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC priced principal-at-risk, market-linked securities tied to the Global X Copper Miners ETF that mature on July 15, 2027. Each security has a $1,000 face amount and offers a contingent fixed return of 23.60% ($236) if the underlying’s fund closing price on the calculation day is at or above the threshold price of $57.135 (75% of the starting price). If the ending price is below the threshold, the payout is 1-for-1 to the underlying return and investors may lose more than 25%, and possibly all, of their principal. The estimated value on the pricing date was $961.10 per security and the price to public was $1,000 per security; aggregate offering amounts and commissions are shown in the tables.
Morgan Stanley Finance LLC is offering structured, market-linked notes due August 5, 2030, fully guaranteed by Morgan Stanley, linked to the EURO STOXX 50® Index. Each note has a stated principal amount of $1,000 and an issue price of $1,000. At maturity, if the final level exceeds the initial level, holders receive the stated principal plus an upside payment equal to 110% of the underlier’s appreciation; if not, holders receive only the stated principal. The notes pay no interest, are unsecured, will not be listed, and are subject to Morgan Stanley’s credit risk. The pricing/strike and observation date is July 31, 2026, the original issue date is August 5, 2026, and the observation/measurement date is July 31, 2030. The issuer estimates the notes’ value on the pricing date at approximately $966.70 per note.
Morgan Stanley Finance LLC priced an offering of auto-callable, principal-at-risk market-linked securities linked to the lowest performing of the S&P 500® Index and the Dow Jones Industrial Average, maturing July 1, 2030. The aggregate face amount is $3,053,000 with a face amount of $1,000 per security and an estimated value on the pricing date of $960.40 per security.
The securities pay specified cash call payments on quarterly calculation days beginning July 1, 2027, with call payments ranging from $1,090.00 to $1,360.00. If not called, maturity payments depend on the ending levels; a decline of more than 25% in the lowest performing underlying versus its starting level exposes holders to loss of principal. Starting levels were SPX 7,354.02 and INDU 51,876.11; threshold levels equal 75% of those starting levels.
Morgan Stanley Finance LLC is offering structured notes called Trigger PLUS due August 5, 2030, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and pays at maturity based on the performance of the worst performing of the Dow Jones Industrial Average and the S&P 500.
If both underliers finish above their initial levels, investors receive principal plus a 128% leverage payment on the appreciation of the worst performing underlier. If either underlier finishes below its downside threshold (70% of its initial level), investors suffer proportional principal losses (1% loss in principal for each 1% decline of the worst performing underlier). The estimated value on the pricing date is approximately $965.80 per security.
Morgan Stanley Finance LLC (guaranteed by Morgan Stanley) is offering Trigger PLUS notes linked to the worst performing of the Dow Jones Industrial Average and the S&P 500 with a $1,000 stated principal per security and a maturity date of August 1, 2030. The notes provide 115% leveraged upside on appreciation of the worst performing underlier but expose investors to full principal loss if the worst performing underlier falls below 70% of its initial level on the observation date. The original issue price is $1,000 and the estimated value on the pricing date is approximately $944.10. All payments are subject to Morgan Stanley Finance LLC and Morgan Stanley credit risk; market value prior to maturity will reflect credit spreads, hedging costs and model assumptions.