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 principal-at-risk notes with a contingent coupon and multi-index payoff. The securities have a stated principal amount of $1,000 per security, mature on July 25, 2029 and reference the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index. They pay a contingent coupon at an annual rate of 9.50% only when the closing level of each underlier is ≥ its coupon barrier (60% of the initial level) on an observation date. A 20% buffer applies at maturity (buffer level = 80% of initial); if the worst performing underlier finishes below the buffer, investors incur losses of 1% per 1% decline beyond the buffer, subject to a minimum payment of 20% of principal. The notes are callable beginning January 25, 2027 if a risk neutral valuation model indicates redemption is economically rational. All payments are subject to Morgan Stanley and MSFL credit risk.
Morgan Stanley Finance LLC offers Principal-at-Risk structured notes—contingent-income, memory buffered, auto-callable securities tied to Palantir Technologies Inc. class A common stock with an aggregate principal amount of $275,000 and a stated principal of $1,000 per security. The securities pay a contingent coupon at an annual rate of 19.75% on observation dates when the underlier is at or above the coupon barrier ($79.051, 70% of the initial level). They may be automatically redeemed early if the underlier meets or exceeds the call threshold ($112.93, 100% of the initial level) on specified redemption determination dates. If not redeemed, at maturity ( December 30, 2027 ) investors receive principal only if the final level is at or above the buffer ($79.051); otherwise losses are amplified by a downside factor of 1.4286. All payments are subject to the issuer’s and guarantor’s credit risk; the estimated value on the pricing date was $977.30 per security.
Morgan Stanley Finance LLC priced principal-at-risk, auto-callable notes linked to the S&P 500® Futures Excess Return Index. Each note has a $1,000 stated principal, a 150% participation rate and an early redemption feature that pays $1,200 if the underlier meets the call threshold on the first determination date.
The notes mature on July 15, 2031 with a first determination date of July 13, 2027. If not called, payoff depends on the final level versus the initial level and a 70% downside threshold; losses can equal the full principal and could be zero. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering Buffered PLUS principal-at-risk notes due July 31, 2031. Each security has a $1,000 stated principal amount and is linked to the Russell 2000® and S&P 500® indices. Payment at maturity depends on the worst performing underlier: investors receive principal plus a 114% leveraged upside if the worst underlier appreciates, full principal if the worst underlier is at or above an 80% buffer level, or a pro rata loss beyond the 20% buffer (subject to a 20% minimum payment). The estimated value on the pricing date was approximately $935.40 per security. All payments are obligations of MSFL and are unconditionally guaranteed by Morgan Stanley; holders remain exposed to Morgan Stanley credit risk.
Morgan Stanley Finance LLC priced a Dual Directional Buffered PLUS structured note due September 3, 2027 that references the S&P 500® Index. The securities have a $1,000 stated principal amount per security and an estimated value on the pricing date of approximately $985.50.
Key economic terms: a 200% leverage factor for upside (capped at a $1,113.50 maximum maturity payment), a 10% buffer protecting declines up to that amount, an absolute return participation feature of 100%, and a minimum payment at maturity of 10% of principal. Strike/pricing date is July 31, 2026 and the observation date is August 31, 2027, subject to postponement.
Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable structured notes due August 2, 2029, fully and unconditionally guaranteed by Morgan Stanley. Each note has a stated principal amount of $1,000 and an issue price of $1,000. The notes reference the Russell 2000® and S&P 500® indices, automatically redeeming on the first determination date if both underliers meet call thresholds on August 4, 2027, producing an early redemption payment of $1,125 per security on August 9, 2027. If not called, maturity payoff on August 2, 2029 depends on the worst performing underlier: investors receive principal plus an upside payment equal to the 125% participation rate times the worst underlier’s gain, receive only principal if both underliers stay above a 75% downside threshold, or lose 1% of principal for each 1% decline below that threshold, potentially losing the entire investment. The pricing-date estimated value was approximately $940.80. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering Principal at Risk Callable Contingent Income Securities with an aggregate principal amount of $35,551,000, fully and unconditionally guaranteed by Morgan Stanley. The securities have a stated principal amount of $1,000 per security, an original issue price of $1,000, an estimated value on the pricing date of $979.90, and mature on June 29, 2029.
Holders may receive a contingent coupon at an annual rate of 12.55% on each coupon payment date only if the closing level of each underlier equals or exceeds its coupon barrier (each set at 70% of the initial level). If any underlier is below its downside threshold (also 70% of initial level) on the final observation date, the payment at maturity will decline pro rata with the worst performing underlier; losses could equal the entire principal. The securities are callable on specified redemption dates based on the output of a risk neutral valuation model and are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC offers Structured Investments (Buffered Jump Securities) due June 30, 2031 fully and unconditionally guaranteed by Morgan Stanley. The securities are principal‑at‑risk notes linked to the worst performing of the Dow Jones Industrial Average, the S&P 500® Index and the State Street® Consumer Staples Select Sector SPDR® ETF with automatic early redemption opportunities and a 20% buffer.
Each security has a stated principal amount of $1,000, an aggregate principal amount of $330,000, an estimated value on the pricing date of $982.90, and will pay fixed early redemption amounts if all underliers meet their call threshold on a determination date. If not redeemed, maturity payments depend on the worst performing underlier and may result in significant principal loss subject to a 20% minimum payment at maturity.
Morgan Stanley Finance LLC prices structured "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 a fixed upside payment of $235 (23.50%) payable at maturity if the worst performing underlier finishes at or above its initial level. The notes pay no interest, are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley. The strike/ pricing date is July 31, 2026, the observation date is July 31, 2029 and the maturity date is August 3, 2029. The preliminary pricing supplement shows an estimated value on the pricing date of approximately $983.20 per note. All payments are subject to the issuer's credit risk and the notes will not be listed on any securities exchange.
Morgan Stanley Finance LLC priced contingent income auto-callable principal-at-risk securities linked to Ares Management Corporation Class A common stock. The securities have a $1,000 stated principal per security, an aggregate principal amount of $2,254,000, and an annual contingent coupon of 19.50%. Coupons are paid only if the closing level of the underlier meets the coupon barrier on observation dates. The securities may be automatically redeemed early when the underlier meets the call threshold ($109.13) on specified redemption determination dates. If not redeemed, investors receive principal at maturity only if the final level is at or above the downside threshold ($65.478, 60% of the initial level); otherwise the payment at maturity equals the stated principal multiplied by the performance factor and could be significantly less or zero. Estimated value on the pricing date was $951.80 per security; agent commissions were $20 per security.
Morgan Stanley Finance LLC is offering principal-at-risk, contingent income auto-callable securities due November 4, 2027, fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and a contingent annual coupon rate of 12.75% payable only if both underliers meet coupon barrier levels on observation dates.
The securities link to the Nasdaq-100® Technology Sector Index℠ and the Russell 2000® Index and are callable on a series of redemption determination dates beginning January 29, 2027. If not auto‑redeemed, maturity payment depends on the worst performing underlier versus a downside threshold of 75% of its initial level; losses can equal the full principal.
Morgan Stanley describes the Morgan Stanley Amplitude Index™ (MSAMP5), a rules-based multi-asset index that targets 5% annualized volatility using leverage (up to 125%) and a de‑leveraging Risk Mitigation Multiplier. The index charges a 0.65% per annum index fee (deducted daily) and historically averaged total fees of approximately 1.4% per annum on back‑tested data.
The index allocates across Equities, Fixed Income, Commodities and a Liquid Alternatives sleeve using rolling futures, mean‑variance optimization across six look‑back windows, intraday trend and carry signals, and a volatility control that adjusts exposure daily. The Index Live Date is January 5, 2026 and its base value was set to 100 as of June 1, 2012. The supplement highlights simulated pre‑live performance, contango/roll risks, leverage amplification, and methodology‑driven limits on asset weights.
Morgan Stanley Finance LLC priced structured, market-linked notes tied to the Nasdaq-100 Index with a $1,000 stated principal amount per note and an original issue price of $1,000 per note. The notes pay no interest, have a 100% participation rate in index appreciation subject to a $1,437 maximum payment at maturity, and rely on the closing index level on the observation date for payoff calculations. The pricing and strike dates are June 30, 2026, the original issue date is July 6, 2026, the observation date is June 30, 2031 (subject to postponement), and the maturity date is July 3, 2031. The estimated value on the pricing date is approximately $953.60 per note and all payments are subject to the issuer's and guarantor's credit risk.
Morgan Stanley Finance LLC offers Trigger Callable Yield Notes linked to the least performing of the Russell 2000® and EURO STOXX 50®. The notes pay a fixed monthly Coupon (to be set on the Trade Date) in the range of 9.85%–10.40% per annum, have an Issue Price of $10.00 and an estimated Trade Date value of approximately $9.941. The notes are callable monthly beginning October 7, 2026 if a risk neutral valuation model indicates calling is economically rational. At maturity on October 7, 2027, investors receive principal only if both Underlyings close at or above a Downside Threshold equal to 70% of each Initial Underlying Value; otherwise payment is $10 × (1 + Underlying Return of the Least Performing Underlying), which can result in a substantial or total loss of principal. The notes are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley; all payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC priced contingent income, principal‑at‑risk, auto‑callable notes linked to Advanced Micro Devices, Inc. Each security has a stated principal amount of $1,000 and an original issue price of $1,000. The notes pay a contingent coupon (annual rate to be set at pricing, disclosed as 24.00%–25.00% range) only if the underlier meets the coupon barrier on observation dates. The securities are subject to automatic early redemption if the underlier meets a call threshold on redemption determination dates. At final maturity, if the final level is below the downside threshold, investors suffer proportional principal loss (payment = stated principal × performance factor). All payments are unsecured and subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC is offering principal‑at‑risk notes due July 15, 2027 linked to the common stock of MP Materials Corp. Each security has a stated principal amount of $1,000 and an issue price of $1,000. At maturity the notes pay $358.90 of upside (35.89%) if the final level is greater than or equal to the downside threshold level of $35.581 (which is 65% of the initial level). If the final level is below that threshold, the payment equals the stated principal multiplied by the performance factor (final level/initial level), meaning investors lose 1% of principal for each 1% decline in the underlier; there is no minimum payment. The document shows an estimated value on the pricing date of approximately $980.10 per security and discloses agent commissions of $10 per security. All payments are subject to issuer and guarantor credit risk, and U.S. federal income tax treatment is described as uncertain.
Morgan Stanley Finance LLC is offering structured, principal‑at‑risk notes linked to the worst performing of the Russell 2000 and S&P 500. The securities have a $1,000 stated principal per security, an original issue date of August 5, 2026 and maturity on August 3, 2029. They feature an automatic early redemption on the first determination date (August 6, 2027) for an $1,165 early redemption payment if both underliers meet their call threshold levels. If not auto‑redeemed, payoff depends on the worst performing underlier: investors can receive the stated principal plus a 150% participation in upside, the stated principal only if both final levels exceed 75% of initial levels, or a reduced payment (down to zero) if the worst performing underlier falls below 75% of its initial level. All payments are subject to issuer/guarantor credit risk; estimated value on pricing date was approximately $969.90 per security.
Morgan Stanley Finance LLC priced structured, market-linked notes tied to the EURO STOXX 50® Index with a $1,000 stated principal per note and a 115% participation rate. The notes pay no interest, mature on July 31, 2031, and pay at maturity either the stated principal or the stated principal plus an upside payment if the index closes above the initial level on the observation date.
The estimated value on the pricing date is approximately $945.80 per note. All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley; holders are exposed to the issuer’s credit risk and there will be no exchange listing.
Morgan Stanley Finance LLC is offering Principal at Risk securities due January 4, 2027 linked to the worst performing of GLD, GDX and GDXJ. The securities pay a contingent coupon of 17.00% per annum only if each underlier meets its coupon barrier on observation dates. They include a 27.50% buffer and a downside factor of 1.3793; if the final level of the worst performing underlier is below the buffer, investors incur losses equal to 1.3793% of principal for each 1% decline beyond the buffer. The securities may be redeemed early beginning October 2, 2026 if a risk neutral valuation model finds redemption economically rational. Issue price is $1,000 and the estimated value on the pricing date is approximately $992.50. All payments are subject to Morgan Stanley and MSFL credit risk; there is no guaranteed return of principal.
Morgan Stanley Finance LLC is offering principal-at-risk, contingent income auto-callable securities linked to Astera Labs, Inc. common stock. The securities have a $1,000 stated principal per security, an original issue date of July 6, 2026 and a maturity date of July 6, 2029.
Holders may receive a contingent coupon at an annual rate of 51.25% on applicable coupon dates only if the underlier’s closing level meets the coupon barrier (50% of the initial level) on observation dates. The notes automatically redeem early if the closing level equals or exceeds the call threshold (100% of the initial level) on any redemption determination date. If not redeemed and the final level is below the downside threshold (50% of the initial level), investors suffer a proportional loss of principal (payment = principal × performance factor). The estimated value on the pricing date was approximately $954.90 per security. All payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley has priced an offering of Fixed Rate Notes with an aggregate principal amount of $50,000,000. The notes were issued at an issue price of $1,000 per note on an original issue date of June 8, 2026 and mature on August 9, 2027.
The notes pay interest in arrears at a stated rate of 4.32% per annum with a single interest payment date of August 9, 2027. Payments are unsecured and subject to the credit risk of Morgan Stanley. The notes will not be listed on any exchange. The pricing supplement shows per‑note original issue discount (OID) accruals totaling $50.5200 per note as of maturity periods listed.
Morgan Stanley Finance LLC is offering Principal at Risk securities due November 4, 2027 that are fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and offers a fixed upside payment of $90 (9%) if the worst performing underlying index is at or above its downside threshold on the observation date.
The securities are linked to the worst performing of the Dow Jones Industrial Average, Russell 2000® Index and S&P 500® Index, use an observation date of November 1, 2027 and will pay at maturity either the stated principal plus the upside payment or an amount equal to the stated principal multiplied by the performance factor of the worst performing underlier. The downside threshold for each underlier is 65% of its initial level, and the preliminary estimated value on the pricing date is approximately $971.70 per security.
Morgan Stanley Finance LLC published a preliminary pricing supplement for a Dual Directional Buffered PLUS note due August 3, 2029, fully and unconditionally guaranteed by Morgan Stanley. The securities have a $1,000 stated principal amount and an estimated value on the pricing date of $975.20 per security.
Key economic terms include a 300% leverage factor on upside, a capped maximum upside payment of $1,307.50 (130.75% of principal), a 10% buffer (buffer level = 90% of initial level), and a minimum payment at maturity equal to 10% of principal. Strike and pricing date are July 31, 2026; original issue date is August 5, 2026; observation date is July 31, 2029.
The notes do not pay interest, expose holders to issuer credit risk, and may return less than principal if the final level is below the buffer; tax treatment is uncertain and investors should consult advisers.
Morgan Stanley Finance LLC is offering Principal-at-Risk, contingent-income, memory auto-callable securities linked to Dell Technologies Inc. Class C common stock. Each security has a stated principal amount of $1,000, a contingent coupon at an annual rate of 34.36%, and an estimated value on the pricing date of approximately $968.10.
The initial level (closing level on the strike date) is $414.61. The coupon barrier and downside threshold are both $248.766 (60% of the initial level). The securities can auto-redeem on specified dates if the underlier meets the call threshold ($414.61); final maturity is January 3, 2028. If the final level is below the downside threshold, payment at maturity equals the stated principal multiplied by the performance factor (final level/initial level), which could result in loss of principal down to zero.
Morgan Stanley Finance LLC priced contingent income, memory auto-callable notes linked to Salesforce, Inc. stock. The notes have a $1,000 stated principal per security, a contingent coupon (annual rate set on the pricing date within 13.50%–14.50%), automatic early‑redemption features and a final maturity of July 20, 2028.
Coupons pay only if the underlier's closing level meets the coupon barrier (65% of initial level). If not auto‑redeemed and the final level is below the downside threshold (65% of initial), principal is reduced pro rata by the performance factor. Estimated value on pricing date was approximately $952.00 per security. All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC is offering a series of contingent income, memory auto-callable principal-at-risk securities linked to the Class A subordinate voting shares of Shopify Inc., fully and unconditionally guaranteed by Morgan Stanley. The securities pay a contingent coupon (annual rate determined on the pricing date, indicated as 20.00% to 21.00% range) only when observation-date closing levels meet the coupon barrier. They feature automatic early redemption if the underlier meets the call threshold on a redemption determination date and a maturity payoff that returns principal only if the final level is at or above the downside threshold; otherwise investors suffer losses proportional to the underlier decline. All payments are subject to Morgan Stanley and MSFL credit risk.
Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable notes linked to the common stock of Oracle Corporation, due July 20, 2028. Each security has a stated principal amount of $1,000 and will pay a contingent coupon (annual rate to be set on the pricing date) only if the underlier meets coupon barrier tests on scheduled observation dates. The notes can be automatically redeemed early if the closing level of the underlier meets the call threshold on any redemption determination date; if not redeemed, repayment at maturity depends on the final level relative to the downside threshold and can result in a principal loss of 1% for each 1% decline in the underlier.
Key qualifiers: estimated value on the pricing date was approximately $952.50 per security, coupon barrier and downside threshold levels are set at 60% of the initial level in this supplement, and the contingent coupon range is disclosed as 18.50% to 19.50% per annum (final rate determined on the pricing date). All payments are unsecured obligations of MSFL and are fully guaranteed by Morgan Stanley and are subject to credit risk.
Morgan Stanley Finance LLC priced market-linked notes due June 30, 2031, linked to the EURO STOXX 50® Index, with a stated principal amount of $1,000 per note and an aggregate principal amount of $399,000. The notes pay no interest, are fully guaranteed by Morgan Stanley, and pay at maturity either the stated principal amount or the stated principal amount plus an upside payment equal to the participation rate times the underlier percent change. The participation rate is 115.25%. The strike and pricing date was June 25, 2026, original issue date June 30, 2026, observation date June 25, 2031 and maturity date June 30, 2031. The estimated value on the pricing date was $950.10 per note and the agent’s commission was $31.25 per note.
Morgan Stanley Finance LLC is offering $435,000 aggregate face amount of Digital iShares® Expanded Tech-Software Sector ETF‑Linked Notes due July 28, 2027, fully and unconditionally guaranteed by Morgan Stanley. The notes pay no interest and return at maturity is tied to the iShares Expanded Tech-Software Sector ETF performance measured from the Trade Date: June 26, 2026 to the Determination Date: July 26, 2027.
For each $1,000 Face Amount, holders receive $1,197.30 if the Final Underlier Level is ≥90% of the Initial Underlier Level ($88.20). If the Final Underlier Level is below that 90% Threshold ($79.38), the cash payment is reduced per the Buffer Rate (~111.11%), and investors could lose some or all principal. Estimated value on the trade date was $979.40 per note; all payments are subject to issuer credit risk.
Morgan Stanley Finance LLC is offering Trigger Callable Yield Notes due October 7, 2027, fully and unconditionally guaranteed by Morgan Stanley. The notes pay a monthly fixed Coupon (to be set on the Trade Date at 8.25%–8.80% per annum), are callable monthly beginning October 7, 2026 based on a risk neutral valuation model, and return at maturity either full principal or an amount linked to the Least Performing Underlying (the lower-performing of the Russell 2000® Index and the EURO STOXX 50® Index) measured against a Downside Threshold equal to 70% of each Initial Underlying Value. If not called and the Final Underlying Value of either underlying is below its Downside Threshold on the Final Valuation Date, holders suffer a principal loss proportional to the decline of the Least Performing Underlying. The Issue Price is $10.00 per note (minimum investment 100 notes); the issuer estimates an initial value of approximately $9.84 per note. All payments are subject to Morgan Stanley’s credit risk and the notes do not provide dividend rights or participation in underlying appreciation.
Morgan Stanley Finance LLC is offering principal‑at‑risk, auto‑callable market‑linked securities tied to the Class A common stock of CoreWeave, Inc. The securities have a face amount of $1,000 per security, an estimated value of $970.30 on the pricing date and a contingent coupon rate to be set on the pricing date of at least 30.35% per annum. Monthly calculation days begin July 2026; if not called, maturity is scheduled for July 3, 2029. Coupon payments are payable only when the underlying stock closing price meets or exceeds a coupon threshold equal to 50% of the starting price, and principal is at risk if the ending price is below a downside threshold equal to 50% of the starting price. The offering price is $1,000 per security, with agents’ commissions of up to $18.25 and proceeds to the issuer of $981.75 per security. The securities are fully and unconditionally guaranteed by Morgan Stanley and involve issuer credit risk, potential illiquidity, complex payoff mechanics and tax uncertainty.
Morgan Stanley Finance LLC is offering Structured Investments Variable Income Auto-Callable Notes due June 30, 2031, fully guaranteed by Morgan Stanley. The offering registers an aggregate principal amount of $4,279,000 in $1,000 denominations. The notes pay a variable monthly coupon that is either 12.00% (higher) or 0.25% (lower) per annum depending on each observation date and are linked to the worst performing share among AMD, Meta (class A), Marvell and Tesla. The notes may be automatically redeemed early on scheduled redemption determination dates if every underlier meets its call threshold; early redemption pays the stated principal plus the higher coupon for the related period. The estimated value on the pricing date was $942.40 per note and the price to public was $1,000 per note (agent commission $42.50 per note). All payments are subject to Morgan Stanley's credit risk and the notes will not be listed on any exchange.
Morgan Stanley Finance LLC priced a structured, variable‑coupon, auto‑callable note offering linked to the worst performing of NVDA, META, ORCL and GOOG, with an $1,261,000 aggregate principal amount and a stated principal amount of $1,000 per note. The notes are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley; they pay a variable coupon of either 9.25% (higher coupon) or 0.25% (lower coupon) per annum depending on observation‑date tests and include automatic early redemption mechanics and a final maturity of June 30, 2031.
The issue price is $1,000 per note, the estimated value on the pricing date is $948.50 per note, selected dealers receive a $37 commission per note, and net proceeds per note to the issuer are $963 (total proceeds shown $1,214,343).
Morgan Stanley Finance LLC is offering Structured Investments: Variable Income Auto-Callable Notes due June 30, 2031, linked to the worst performing of Palantir (PLTR), Goldman Sachs (GS) and Qualcomm (QCOM), with an aggregate principal amount of $543,000. The notes pay a variable monthly coupon of 9.75% (higher) or 0.25% (lower), are unsecured obligations of MSFL and are fully guaranteed by Morgan Stanley.
Morgan Stanley Finance LLC priced $894,000 of structured, variable‑coupon auto‑callable notes due June 30, 2031 that are fully and unconditionally guaranteed by Morgan Stanley. The notes pay a monthly variable coupon of 6.00% (higher) or 1.00% (lower) depending on monthly observation dates and are linked to the worst performing of Meta (META), Palantir (PLTR), Netflix (NFLX) and Tesla (TSLA). The notes can be automatically redeemed beginning with the first redemption determination date June 25, 2027 if each underlier meets its call threshold; otherwise investors receive scheduled coupons and the stated principal of $1,000 per note at maturity. All payments are subject to the issuer’s credit risk and the notes will not be listed on any exchange.
Morgan Stanley Finance LLC priced an auto-callable, principal-at-risk note series fully guaranteed by Morgan Stanley linked to the worst performing of the SPDR® S&P MidCap 400® ETF Trust (MDY) and the SPDR® S&P® Regional Banking ETF (KRE). The securities have a $1,000 stated principal amount, an original issue price of $1,000 and aggregate principal of $925,000. Automatic early redemption can occur on periodic determination dates beginning June 29, 2027, offering fixed early redemption payments that rise over time (first early redemption payment shown as $1,108 per security). If not redeemed, maturity is July 1, 2031 with a capped favorable payment of $1,540 if both underliers meet call thresholds; conversely, a final shortfall below the downside thresholds (70% of initial levels) exposes investors to up to 100% of the downside of the worst performing underlier.
Morgan Stanley Finance LLC is offering Market-Linked Notes due July 1, 2031 that are fully and unconditionally guaranteed by Morgan Stanley. The offering aggregates $4,421,000 and each Note has an Issue Price of $1,000 and an estimated Trade Date value of $953.10. The Notes pay no interest and at maturity will return either the $1,000 principal or, if a weighted Basket of five international indices has a positive Basket Return on the Determination Date, the principal plus the Basket Return multiplied by a 110% Participation Rate. The Notes are unsecured, not listed, subject to Morgan Stanley credit risk, and are intended to be held to maturity; proceeds will be used for general corporate purposes.
Morgan Stanley Finance LLC priced Structured Investments Step-Up Jump Notes linked to the Morgan Stanley Amplitude Index. The offering comprises $597,000 aggregate principal of notes with a $1,000 stated principal amount per note and an original issue price of $1,000. The notes pay no interest, mature on June 30, 2033, and are automatically redeemable on specified annual determination dates beginning with June 25, 2027, each with fixed early redemption payments that approximate 12.00% per annum. If not auto-redeemed, payment at maturity will return the stated principal plus any upside payment if the final index level exceeds the initial level of 206.52; otherwise only the stated principal is payable. All payments are unsecured obligations of MSFL and fully and unconditionally guaranteed by Morgan Stanley and are subject to issuer credit risk.
Morgan Stanley Finance LLC priced Principal-at-Risk notes linked to Netflix, Inc. due June 29, 2029. Each security has a $1,000 stated principal and an aggregate principal amount of $4,459,000. The securities pay a contingent coupon of 10.96% per annum on observation dates when the closing level of the underlier is at or above the coupon barrier of $47.977 (65% of the initial level). Automatic early redemption occurs if the closing level on a redemption determination date is at or above the call threshold of $73.81. At maturity, if the final level is below the downside threshold of $47.977, payment equals principal multiplied by the performance factor (final level / initial level), exposing investors to possible significant principal loss. The estimated value on the pricing date was $961.80 and the issue price was $1,000 per security.
Morgan Stanley Finance LLC is offering Trigger Autocallable GEARS linked to a weighted basket of 16 stocks, with a $10.00 principal amount per Security and an estimated Trade Date value of $9.647 per Security. The Securities are automatically called if the Observation Date Basket Closing Level on July 2, 2027 is greater than or equal to the Autocall Barrier of 100, in which case holders receive the Call Price of $11.30 per Security (based on a 13.00% per annum Call Return Rate). If not called, maturity is June 29, 2029 with payment determined by the Basket Return and an Upside Gearing of 1.35. A Downside Threshold of 75 applies; if the Final Basket Level is below that threshold the payment at maturity can be materially less than principal, including a total loss. All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC prices a $15,000,000 offering of Structured Investments: Enhanced Buffered Jump Securities due July 9, 2027, fully and unconditionally guaranteed by Morgan Stanley. The securities are issued at a stated principal amount of $1,000 per security and were offered at the issue price of $1,000 per security.
The securities pay no interest, provide a fixed upside payment of $76 per security ( 7.60% ), and protect losses only up to a 25% buffer; beyond that buffer the downside is multiplied by a downside factor of 1.3333. The payout is determined solely by the worst performing underlier (INDU, SPW, or SPX) based on closing levels on the observation date.
Morgan Stanley Finance LLC priced a series of Trigger PLUS principal-at-risk securities. The securities reference the Russell 2000® and S&P 500® and pay at maturity based on the worst performing underlier. They offer a 130% leveraged upside if the worst underlier finishes above its initial level and provide limited principal protection only if both underliers finish at or above 75% of their initial levels. If the worst underlier finishes below its 75% downside threshold, investors lose 1% of principal for each 1% decline in that underlier; the payment could be significantly less than principal or zero. The issue price is $1,000 per security (estimated value on pricing date $962.20), aggregate principal $1,114,000, and maturity is June 28, 2029. All payments are subject to MSFL and Morgan Stanley credit risk.
Morgan Stanley Finance LLC priced a $2,617,000 issuance of Principal at Risk notes due June 30, 2031, fully guaranteed by Morgan Stanley. The securities are issued at $1,000 per security with a fixed coupon of 7.00% per annum payable monthly and an estimated value on the pricing date of $919.80 per security. The notes include an automatic early redemption feature if the S&P U.S. Equity Momentum 40% VT 4% Decrement Index closes at or above the call threshold (initial level 1,352.96) on a redemption determination date. At maturity, if the final level is below the buffer level of 1,150.016 (85% of initial), principal is reduced by 1% for each 1% decline beyond the buffer subject to a minimum payment of 15% of principal. Agent commissions of $43.50 per security reduce issuer proceeds to $2,503,160.50. All payments are subject to the issuer’s and guarantor’s credit risk and U.S. federal income tax treatment is uncertain.
Morgan Stanley Finance LLC priced a series of unsecured, market‑linked notes due June 30, 2031, fully guaranteed by Morgan Stanley. The offering is for an aggregate principal amount of $100,000 at an issue price of $1,000 per note. Each note links payoff to the EURO STOXX 50® Index with a participation rate of 110% and an initial level of 6,267.53 (strike date June 25, 2026), observation date June 25, 2031. At maturity, investors receive the stated principal plus 110% of any appreciation of the index; if the final level is equal to or less than the initial level, investors receive only the stated principal. The estimated value on the pricing date was $942.60 per note, and selected dealers receive a fixed sales commission of $20 per note.
Morgan Stanley Finance LLC issued structured notes tied to the Nasdaq-100 Index with a five-year term maturing on July 1, 2031. Each security has a $1,000 stated principal amount and an issue price of $1,000.
The securities have an automatic early redemption feature on the first determination date (June 28, 2027) if the closing level of the underlier is greater than or equal to the call threshold (29,118.24). The early redemption payment is $1,150 per security. If not redeemed, maturity payoffs depend on the final level relative to the initial level (29,118.24) and the downside threshold (23,294.592, 80% of the initial level). Investors receive the stated principal plus an upside payment at maturity if the final level is higher (participation rate 150%), receive principal only if the final level is between the downside threshold and initial level, or suffer loss proportional to the index decline if the final level is below the downside threshold.
Morgan Stanley Finance LLC is offering $310,000 aggregate principal of contingent income buffered auto-callable securities due July 1, 2031, fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and an original issue price of $1,000.
The securities pay a contingent coupon at a 10.00% annual rate on observation dates when the underlier closing level is at or above the coupon barrier (80% of the initial level). They feature automatic early redemption if the underlier closes at or above the call threshold (80) on a redemption determination date, a 20% buffer (buffer level 80) against losses at maturity and a minimum payment at maturity equal to 20% of principal. The underlier is a four-stock equally weighted basket (HOOD, PLTR, TSLA, ORCL) with an estimated value on pricing date of $911.50 per security.
Morgan Stanley Finance LLC is offering Structured Investments Enhanced Buffered Jump Securities tied to the MSCI Emerging Markets Index with an aggregate principal amount of $1,500,000 and a stated principal amount of $1,000 per security. The securities pay no interest, include a $155 fixed upside payment at maturity if the final level is at or above an 85% buffer of the initial level, and feature a 1.1765 downside factor for declines beyond the 15% buffer. Payments are subject to Morgan Stanley Finance LLC credit risk and are fully and unconditionally guaranteed by Morgan Stanley.
Morgan Stanley Finance LLC issues $610,000 of Auto-Callable Jump Notes due June 30, 2033
The notes are unsecured obligations of Morgan Stanley Finance LLC and are fully and unconditionally guaranteed by Morgan Stanley. They pay no interest, carry a stated principal of $1,000 per note, an estimated value on the pricing date of $904.70 per note, and aggregate principal of $610,000. The notes can be automatically redeemed on specified annual determination dates beginning June 25, 2027 if the Morgan Stanley Amplitude Index closes at or above the call threshold of 208.585, producing fixed early redemption payments (first such payment $1,107.50 per note). If not redeemed early and the final level exceeds the initial level (206.52), maturity payoff equals principal plus 100% participation in index appreciation; otherwise investors receive only principal. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering Principal at Risk notes due June 30, 2031 linked to the S&P U.S. Equity Momentum 40% VT 4% Decrement Index. Each security has a $1,000 stated principal amount and pays a fixed coupon of 6.25% per annum monthly. The securities can be automatically called beginning on the first redemption determination date June 25, 2027 if the underlier is at or above the call threshold (1,217.664, 90% of the initial level). If not called, maturity payoff depends on the final level relative to the buffer level (1,150.016, 85%); below the buffer investors lose 1% of principal for each 1% decline beyond the buffer, subject to a 15% minimum payment. The original issue price is $1,000 (estimated value on pricing date: $920), with agent commissions of $43.50 per security. All payments are subject to MSFL's credit risk and guaranteed by Morgan Stanley.
Morgan Stanley Finance LLC priced Structured Investments Callable Jump Notes due June 30, 2031, fully guaranteed by Morgan Stanley. The notes have a $1,000 stated principal amount per note, an issue price $1,000 and an aggregate principal amount $1,517,000. They pay no regular interest, offer a 140% participation rate in upside at maturity if the S&P 500® Futures Excess Return Index final level exceeds the initial level of 590.78, and include an issuer call feature starting on July 1, 2027 with fixed redemption payments specified for each redemption date. The estimated value on the pricing date was $942.20 per note; all payments are subject to Morgan Stanley’s credit risk.