Morgan Stanley 424B Filings

Morgan Stanley Finance LLC offers Principal at Risk auto-callable securities linked to Tenet Healthcare Corporation common stock. The securities are issued at $1,000 per security and sold in an aggregate principal amount of $744,000, with an estimated value on the pricing date of $966.00 per security.

The notes pay a contingent coupon at an annual rate of 14.60% on each coupon payment date only if the underlier's closing level on the related observation date is at or above the coupon barrier of $122.85 (65% of the initial level). The securities will auto-redeem if the closing level on any redemption determination date is at or above the call threshold of $189.00 (100% of the initial level). At maturity, if not redeemed and the final level is below the downside threshold of $122.85, investors will suffer a loss equal to the percentage decline in the underlier (payment = $1,000 × final level / initial level).

Morgan Stanley Finance LLC is offering unsecured, structured Step-Up Jump Notes due June 30, 2033, fully guaranteed by Morgan Stanley. The notes pay no interest, have a stated principal amount of $1,000 per note and an aggregate principal amount of $504,000. They feature automatic early redemption on specified determination dates beginning June 25, 2027 if the Morgan Stanley Amplitude index meets or exceeds rising call threshold levels. If not called, maturity payment equals principal plus upside when the final index level is above the initial level (Initial level 206.52); otherwise investors receive only principal. All payments are subject to issuer and guarantor credit risk.

Morgan Stanley (MS) is offering Principal at Risk auto-callable notes issued by Morgan Stanley Finance LLC with a stated principal amount of $1,000 per security and an aggregate offering of $2,396,000. The notes link to the worst performing of the EURO STOXX 50® and Russell 2000® indices, can automatically redeem starting on the first determination date of March 30, 2027, and mature on July 1, 2031. Early redemption payments increase across 17 scheduled determination dates (first early redemption payment shown: $1,087.75 per security). If not redeemed and both underliers meet call thresholds, maturity pays $1,585.00; if the worst performing underlier falls below its downside threshold (70% of initial level), investors lose 1% of principal for each 1% decline in that underlier. All payments are subject to Morgan Stanley Finance LLC and Morgan Stanley credit risk.

Morgan Stanley Finance LLC priced Structured Investments Jump Notes with a stated principal of $1,000 per note and an aggregate principal amount of $783,000. The notes have no periodic interest, mature on June 30, 2033, and are fully guaranteed by Morgan Stanley.

The notes are auto-callable beginning with the first determination date on June 25, 2027 if the closing level of the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index is at or above the call threshold level of 1,352.96 (100% of the initial level). Fixed early redemption payments rise annually to a final early redemption payment of $1,570 per note on the sixth early redemption date. If not redeemed early, investors receive principal plus an upside payment at maturity when the final index level exceeds the initial level; the participation rate is 100%. All payments are subject to Morgan Stanley's credit risk.

Morgan Stanley Finance LLC offers Principal-at-Risk, contingent-income, memory auto-callable securities linked to Alphabet Inc. Class A common stock, fully and unconditionally guaranteed by Morgan Stanley. The issue is $1,000 per security ($1,725,000 aggregate) with an 11.00% annual contingent coupon payable only if observation-date closing levels meet the coupon barrier (75% of initial level). The securities auto-redeem early if the underlier’s closing level is at or above the call threshold on a redemption determination date. At maturity, if the final level is below the downside threshold (75% of initial), holders suffer a proportional loss in principal (payment = principal × final/initial). The initial level and call threshold equal $343.71. All payments are subject to Morgan Stanley’s credit risk and the securities do not participate in upside beyond contingent coupons.

Morgan Stanley Finance LLC priced contingent income auto-callable securities due March 28, 2030. The notes are principal-at-risk, fully guaranteed by Morgan Stanley and linked to the worst performing of the Nasdaq-100, Russell 2000 and S&P 500.

The securities have an original issue price of $1,000 per security (aggregate $3,161,000), an estimated value on the pricing date of $956.70, and a contingent coupon at an annual rate of 9.05% payable only if each underlier is ≥ its coupon barrier on an observation date. Call thresholds are set at 100% of initial levels, coupon barriers at 75%, and downside thresholds at 70%. If any underlier is below its downside threshold at maturity, investors suffer losses tied to the worst performing underlier and may lose most or all principal.

Morgan Stanley Finance LLC is issuing Principal at Risk PLUS securities tied to the Dow Jones Industrial Average with an aggregate principal amount of $255,000 and a stated principal of $1,000 per security. The securities price at $1,000 (estimated value on the pricing date: $952.20), carry a 150% leverage factor, a maximum payment at maturity of $1,636 per security, and no guaranteed return of principal.

Key dates: strike/pricing June 25, 2026, original issue date June 30, 2026, observation date June 25, 2031 (subject to postponement), and maturity June 30, 2031. Payments at maturity depend solely on the closing level of the underlier on the observation date; downside risk includes loss of principal up to 100%.

Morgan Stanley Finance LLC priced market-linked notes due June 28, 2030, fully guaranteed by Morgan Stanley, linked to the S&P 500® Futures Excess Return Index. The notes have a $1,000 stated principal amount per note, a 106.50% participation rate and repay the stated principal at maturity if the index final level is equal to or below the initial level of 590.78. If the final level is greater than the initial level, the maturity payment equals the stated principal plus the upside payment (stated principal × participation rate × index percent change). The notes pay no interest, are unsecured obligations of MSFL, were issued at $1,000 with an estimated value of $963.80 on the pricing date, and will not be listed on an exchange. All payments are subject to issuer credit risk and certain distribution conflicts are disclosed (agent commission $30 per note).

Morgan Stanley Finance LLC is offering Principal at Risk structured notes — 100 securities at a stated principal amount of $1,000 per security (aggregate principal $100,000) due June 30, 2031, fully and unconditionally guaranteed by Morgan Stanley. The notes pay a contingent coupon at an annual rate of 11.00% on coupon dates only if the underlier meets the coupon barrier, feature automatic early redemption if the closing level meets the call threshold, and return principal at maturity only if the final level is at or above the downside threshold; otherwise payment at maturity equals $1,000 × (final level / initial level). Key numeric terms: initial level and call threshold 3,268.11, coupon barrier and downside threshold 1,960.866 (60% of initial level), estimated value on the pricing date $901.80, agent commission $42.50 per security, proceeds to issuer $957.50 per security. The securities do not guarantee principal, are subject to Morgan Stanley credit risk, have limited secondary market liquidity, and the underlier includes a 4% per annum decrement and intraday leverage.

Morgan Stanley Finance LLC offers $3,711,000 aggregate principal amount of Structured Investments — Buffered Jump Securities with an auto-callable feature due June 30, 2031, fully and unconditionally guaranteed by Morgan Stanley. The securities have a $1,000 stated principal amount per security and do not pay periodic interest.

Automatic early redemption can occur on scheduled determination dates beginning June 28, 2027 if the underlier meets the call threshold level of 1,150.016 (85% of the initial level). If not called, a buffer of 15% protects initial losses up to that amount; below the buffer, investors lose 1% of principal for each 1% decline beyond the buffer, subject to a 15% minimum payment at maturity. All payments are subject to issuer and guarantor credit risk.

Morgan Stanley Finance LLC priced principal-at-risk market-linked notes tied to the S&P 500® Futures Excess Return Index due June 30, 2031. The notes have a stated principal amount of $1,000 per note, a participation rate of 123.25% and pay no periodic interest; maturity payment depends solely on the index closing level on the observation date.

The aggregate offering is $758,000. The original issue price is $1,000 per note, with an estimated value on the pricing date of $952.40 per note; selected dealers receive a $35 sales commission per note. All payments are subject to issuer credit risk and the notes will not be listed on any exchange.

Morgan Stanley Finance LLC is offering Dual Directional Buffered PLUS principal-at-risk securities linked to the worst performing of the Dow Jones Industrial Average, Nasdaq-100 and Russell 2000. The securities have a $1,000 stated principal amount and aggregate principal amount of $1,525,000. They pay no interest and mature on June 30, 2031. At maturity investors receive either (i) stated principal plus a leveraged upside payment if each underlier finishes above its initial level, (ii) stated principal plus a capped positive absolute-return payment if the worst performing underlier finishes at or above its 80% buffer level, or (iii) a reduced payment (losses of 1% per 1% beyond the 20% buffer) if the worst performing underlier finishes below its buffer level. The leverage factor is 138%, the absolute return participation rate is 100%, the buffer is 20%, and the minimum payment at maturity is 20% of stated principal. All payments are subject to MSFL and Morgan Stanley credit risk.

Morgan Stanley Finance LLC offers contingent income, memory auto-callable notes due July 13, 2029. The securities pay a contingent coupon at an annual rate of 23.00% on observation dates if each underlier meets its coupon barrier, are linked to the worst-performing of Micron, Amazon and Shopify, and expose investors to principal loss tied to the worst-performing underlier.

The notes have a stated principal amount of $1,000 per security, a pricing/strike date of July 10, 2026, scheduled observation dates through July 10, 2029, and are fully guaranteed by Morgan Stanley; all payments are subject to the issuer's credit risk.

Morgan Stanley Finance LLC offers Principal-at-Risk Auto-Callable Securities due June 30, 2031, fully guaranteed by Morgan Stanley, linked to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index.

The notes have a stated principal amount of $1,000 per security, an aggregate issuance of $150,000, a contingent annual coupon of 9.50%, and an estimated value on the pricing date of $892.80. Coupons are payable only if the underlier meets the coupon barrier on observation dates. Automatic early redemption may occur if the underlier is at or above the call threshold on any redemption determination date; otherwise, at maturity investors may lose principal if the final level is below the downside threshold (50% of the initial level).

Morgan Stanley Finance LLC is offering market‑linked notes due June 28, 2029, fully and unconditionally guaranteed by Morgan Stanley, with a stated principal amount of $1,000 per note and an aggregate principal amount of $100,000.

The notes pay no interest, provide repayment of principal at maturity subject to issuer credit risk, and pay an upside payment at maturity equal to stated principal × 450% participation rate × underlier percent change if the final level exceeds the initial level. Key economics: initial level 206.52 (strike date June 25, 2026), observation date June 25, 2029, estimated value on the pricing date $925.20 per note, and agent commission $22.50 per note.

Morgan Stanley Finance LLC priced principal-at-risk notes linked to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index, issued at $1,000 per security with an aggregate principal amount of $1,120,000. The securities can auto-redeem on scheduled determination dates beginning July 2, 2027 if the underlier meets the call threshold level of 2,941.299 (90% of the initial level). If not redeemed, maturity payoffs depend on the final level versus the downside threshold of 1,960.866 (60% of the initial level): full fixed upside payment of $1,825.00 if at or above the call threshold, return of principal if between thresholds, or principal loss pro rata if below the downside threshold. The estimated value on the pricing date was $905.80 per security and all payments are subject to Morgan Stanley's credit risk.

Morgan Stanley Finance LLC priced Principal at Risk structured notes linked to the Roundhill Magnificent Seven ETF. Each note has a stated principal amount of $1,000 and an original issue date of July 6, 2026. The notes carry an automatic early redemption feature beginning with the first determination date of July 2, 2027 and a maturity date of July 1, 2031. If a determination-date closing level of the underlier is at or above the call threshold ($61.60), the notes will auto-redeem for a fixed early redemption payment that implies approximately 11.50% per annum. If not redeemed and the final level is at or above the downside threshold ($43.12), investors receive a fixed positive payment of $1,575.00; if below that threshold, payment at maturity equals principal multiplied by the performance factor (final level / initial level), which could result in a substantial loss or zero. All payments are subject to Morgan Stanley credit risk.

Morgan Stanley Finance LLC is issuing Dual Directional Trigger PLUS notes due June 30, 2031, fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and was issued at $1,000 with an estimated value of $946.50 on the pricing date. The payoff at maturity depends solely on the worst performing of the Dow Jones Industrial Average, Russell 2000® and S&P 500® indices measured on the observation date of June 25, 2031.

If the worst performing underlier finishes above its initial level, investors receive the stated principal plus 133% of that underlier’s appreciation. If the worst performing underlier finishes between its initial level and a 60% downside threshold, investors receive the stated principal plus 50% of the absolute decline (capped effectively at a 20% positive return). If the worst performing underlier finishes below its 60% threshold, investors suffer a pro rata loss of principal (1% loss for each 1% decline), with no minimum payment.

Morgan Stanley Finance LLC is offering buffered, auto-callable principal-at-risk notes tied to the Global X Defense Tech ETF, with a $1,000 stated principal amount per security. The notes can be automatically redeemed on July 20, 2027 if the underlier meets the call threshold on the first determination date. At maturity on July 7, 2028, returns depend on the final level versus an initial level determined on July 2, 2026: investors receive upside via a 125% participation rate if the final level is higher, full principal if the final level is above an 85% buffer, or incur leveraged losses calculated with a 1.1765 downside factor.

The original issue price is $1,000 and the issuer estimates the securities’ value at approximately $979.40 on the pricing date. All payments are unsecured and subject to Morgan Stanley Finance LLC and Morgan Stanley credit risk. The notes do not pay interest and may result in a total loss of principal.

Morgan Stanley Finance LLC priced $6,149,000 of structured, principal‑at‑risk securities fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and matures on June 30, 2031 (final determination date June 25, 2031).

The notes reference the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index, have a 15% downside buffer (buffer level = 1,150.016, 85% of the initial level) and an automatic early redemption feature tied to a call threshold of 1,217.664 (90% of the initial level). If not called, maturity payments depend on the final index level, with a minimum payment of 15% of principal and potential losses of 1% per 1% decline beyond the buffer.

All payments are subject to Morgan Stanley's credit risk; the securities pay no regular interest, include issuance and hedging costs (estimated value on the pricing date: $908.30 per security), and were priced on June 25, 2026. The offering is described in the accompanying supplements and prospectus.

Morgan Stanley Finance LLC priced 5,467 securities of 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 stated principal amount of $1,000 (issue price $1,000), aggregate principal $5,467,000, and an estimated value on the pricing date of $905.40 per security. The notes pay a contingent coupon at an annual rate of 10.50% on observation dates when the underlier is at or above the coupon barrier level (70% of the initial level). They feature a 15% buffer (buffer level = 85% of initial level) and a minimum payment at maturity of 15% of principal; if the final level is below the buffer, investors absorb losses 1% for each 1% decline beyond the buffer. The securities are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley; all payments are subject to issuer credit risk. Automatic early redemption may occur if the underlier is at or above the call threshold (100% of initial level) on a redemption determination date.

Morgan Stanley Finance LLC is issuing auto-callable structured "Jump Notes" due June 30, 2033, fully guaranteed by Morgan Stanley. The notes have a $1,000 stated principal amount, an aggregate principal amount of $871,000 and pay no interest. They feature automatic early redemption beginning on June 25, 2027 if the underlier meets the call threshold level of 1,352.96 on a determination date, producing fixed early redemption payments that correspond to roughly 7.50% per annum. At maturity, if not called, investors receive principal plus any upside equal to the 100% participation in the underlier appreciation; if the final level is equal to or less than the initial level, investors receive only the stated principal. All payments are subject to issuer credit risk; the notes are unsecured and will not be listed.

Morgan Stanley Finance LLC priced a series of Trigger PLUS principal-at-risk notes due June 30, 2031, fully guaranteed by Morgan Stanley, with an aggregate principal amount of $5,913,000 and a stated principal of $1,000 per security. The notes reference the worst performing of the Dow Jones Industrial Average and the S&P 500® Index and pay no interest.

At maturity the payment depends solely on closing levels on the observation date. Upside: investors receive principal plus 127% of appreciation of the worst performing underlier if it finishes above its initial level. Limited protection: if the worst performing underlier finishes between its initial level and 70% of its initial level, investors receive principal. Downside: if the worst performing underlier finishes below 70% of its initial level, investors lose in direct proportion (1% loss per 1% decline), with no minimum payment.

Morgan Stanley Finance LLC is offering Principal at Risk structured securities linked to the S&P 500® Index due June 30, 2031. Each security has a $1,000 stated principal amount and pays no interest; estimated value on the pricing date was $946.30.

The payoff depends on the index level on the observation date (June 25, 2031): full upside participation at 100% is capped at $1,606.50 (160.65%); a 15% buffer protects limited declines; below the buffer investors lose principal pro rata, with a minimum payment of 15% of principal.

Morgan Stanley Finance LLC is offering Structured Investments — Enhanced Buffered Jump Securities linked to the capital stock of International Business Machines Corporation (IBM), fully and unconditionally guaranteed by Morgan Stanley. The aggregate principal amount offered is $580,000 at an issue price of $1,000 per security.

The securities mature on July 12, 2027 with an observation date of July 7, 2027. If the final level is greater than or equal to the buffer level, holders receive the stated principal plus an upside payment of $164.40 (16.44%). If the final level is below the buffer level (buffer = 25% of initial level), holders incur losses of 1.3333% for each 1% decline beyond the buffer and could lose their entire investment. The estimated value on the pricing date was $984.20.

Morgan Stanley Finance LLC priced Principal at Risk securities linked to the S&P 500® Index with $700,000 aggregate principal. Each $1,000 security pays no interest and offers a fixed $81 upside payment (8.10%) at maturity if the final level is at or above the downside threshold. If the final level is below the downside threshold (5,518.665, 75% of the initial level of 7,358.22), investors bear losses pro rata (1% principal loss for each 1% index decline) and could lose their entire investment. The securities mature on July 29, 2027 with the observation date of July 26, 2027. The estimated value on the pricing date was $985.50 per security; the issue price is $1,000 with agent commissions of $10.42 per security.

Morgan Stanley Finance LLC is offering callable, principal‑at‑risk notes linked to the S&P 500® Futures Excess Return Index with a stated principal amount of $1,000 per security and an aggregate principal amount of $2,092,000. The securities have a 15% buffer (buffer level 502.163), a 200% participation rate, and a minimum payment at maturity equal to 15% of principal. The securities may be redeemed early on specified redemption dates beginning July 7, 2027, for fixed redemption payments that correspond to roughly 22.50% per annum, based on a risk‑neutral valuation model. All payments are subject to MSFL's and Morgan Stanley's credit risk.

Morgan Stanley Finance LLC offers callable, principal-at-risk notes due June 30, 2031 linked to the worst performing of the Russell 2000 and S&P 500 indices. Each security has a stated principal amount of $1,000 and an aggregate principal amount of $874,000. The securities pay a contingent coupon of 6.55% per annum only when both underliers are at or above their coupon barrier levels on observation dates; otherwise no coupon is paid for that period. The securities feature a call mechanism—first callable on June 30, 2027—that depends on the output of a risk neutral valuation model selected by the calculation agent. At maturity investors receive principal if both underliers are at or above their buffer levels (85% of initial). If the worst performing underlier is below its buffer, the maturity payment equals principal × (performance factor + 15% buffer), subject to a minimum payment of 15% of principal. The issue price is $1,000 per security, estimated value on the pricing date is $942.90, and dealer commissions are $37.50 per security.

Morgan Stanley Finance LLC is offering Callable Jump Notes due June 30, 2031, fully and unconditionally guaranteed by Morgan Stanley, with an aggregate principal amount of $849,000 at a stated principal amount of $1,000 per note.

The notes reference the worst performing of the Russell 2000® Index and the S&P 500® Index, pay no regular interest, and provide either (1) a fixed early redemption payment (rising approximately 10.00% per annum on specified redemption dates) if Morgan Stanley elects to call the notes using a risk neutral valuation model, or (2) at maturity a principal plus an upside payment equal to the stated principal amount × 100% participation × the percent change of the worst performing underlier (only if both underliers finish above their initial levels).

Morgan Stanley Finance LLC priced Principal at Risk notes linked to the S&P 500® Index. The offering consists of securities with a stated principal amount of $1,000 per security and an aggregate principal amount of $1,050,000, issued at $1,000 per security with an estimated value of $985.50 on the pricing date.

At maturity on July 29, 2027, investors receive the stated principal plus a fixed upside payment of $101.30 (10.13%) if the final level is at or above the downside threshold (85% of the initial level). If the final level is below that threshold, holders lose 1% of principal for each 1% decline in the index, with no minimum payment. All payments are subject to the issuer and guarantor credit risk.

Morgan Stanley Finance LLC is offering principal-at-risk notes backed by Morgan Stanley. The securities are issued at $1,000 per security with an aggregate principal amount of $612,000 and an estimated value on the pricing date of $905.00 per security. The notes pay a contingent coupon at an annual rate of 9.25% on observation dates when the underlier meets the coupon barrier. The underlier initial level is 1,352.96; the coupon barrier is 811.776 (60% of initial) and the buffer level is 1,150.016 (85% of initial). If not called, maturity is June 30, 2031 with final observation on June 25, 2031. If the final level is below the buffer, principal is reduced by the underlier decline beyond the 15% buffer, subject to a minimum payment at maturity of 15% of principal. Issue price includes a $46 agent commission per security; proceeds to issuer are $954 per security. All payments are subject to issuer and guarantor credit risk.

Morgan Stanley Finance LLC priced a $100,000 aggregate offering of Buffered PLUS principal-at-risk notes. The securities have a $1,000 stated principal amount, issue price $1,000, an estimated value $948.30 and pay no interest. At maturity on June 30, 2031, payoff is tied to the worst performing of the Russell 2000® and S&P 500® indices with a 115% leverage on upside, an initial 20% buffer and a minimum payment of 20% of principal. The securities are unsecured obligations of MSFL and are fully guaranteed by Morgan Stanley; all payments are subject to the issuer and guarantor credit risk. The offering includes a $25 selling commission per security and an amortization period of six months following issuance.

Morgan Stanley Finance LLC issued a pricing supplement for contingent income auto-callable securities due June 28, 2029. The securities are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley, issued at $1,000 per security with aggregate principal amount of $195,000.

The notes pay a contingent coupon of 9.00% per annum on each coupon payment date only if the closing level of each underlier meets its coupon barrier. Early automatic redemption can occur on specified dates if all underliers meet their call threshold levels; otherwise, at maturity investors receive principal only if each underlier is at or above its downside threshold, and otherwise suffer losses equal to the percent decline of the worst performing underlier. All payments are subject to issuer credit risk and the estimated value on the pricing date was $958.90 per security.

Morgan Stanley Finance LLC is offering Principal at Risk securities linked to the S&P 500® Index with a stated principal of $1,000 per security and an aggregate principal amount of $1,476,000. The securities were priced on June 25, 2026, issued on June 30, 2026, and mature on December 30, 2027. The payoff is path-independent and based solely on the closing index level on the observation date (December 27, 2027), with an upside participation rate of 100% capped at a $1,151.50 maximum upside payment (115.15% of principal). A 15% buffer applies: if the final level is between the initial level and 85% of the initial level, investors receive up to a positive 15% return; if the final level is below the buffer, investors lose 1 of principal for each 1 decline beyond the buffer, subject to a minimum payment of 15% of principal. The estimated value on the pricing date was $987.40 per security. All payments are subject to issuer and guarantor credit risk, and the securities do not pay interest.

Morgan Stanley Finance LLC priced a structured principal-at-risk note offering: Buffered Jump Securities due June 28, 2029, fully and unconditionally guaranteed by Morgan Stanley. The issuance totals $196,000 aggregate principal with a stated principal of $1,000 per security. The notes feature an automatic early redemption on the first determination date, a 20% buffer against losses of the worst performing underlier, a 150% participation rate in upside at maturity and a minimum payment at maturity equal to 20% of stated principal. All payments are subject to Morgan Stanley's credit risk and the securities do not pay periodic interest.

Morgan Stanley Finance LLC offered market-linked notes due June 30, 2031, linked to the EURO STOXX 50® Index and fully guaranteed by Morgan Stanley. The notes were issued at $1,000 each (aggregate $339,000) with an estimated value of $950.10 and a 115.25% participation rate. At maturity holders receive principal plus an upside payment if the index closing level on the observation date exceeds the initial level (initial level: 6,267.53); otherwise they receive only the stated principal. Payments are unsecured and subject to Morgan Stanley credit risk. Commissions of $31.25 per note were paid; proceeds to issuer per note were $968.75. Tax treatment is as a contingent payment debt instrument with a comparable yield of 4.8164%.

Morgan Stanley Finance LLC is offering Structured Investments — Buffered Jump Securities due October 14, 2027 — fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal and a fixed upside payment of $117.50 (11.75%) if the S&P 500® final level is at or above the initial level. The securities provide a 15% buffer (buffer level = 85% of the initial level): if the final level falls below the buffer, investors lose 1% of principal for each 1% decline beyond the buffer, subject to a 15% minimum payment at maturity. The document discloses an estimated value on the pricing date of approximately $988.50 per security and emphasizes that all payments are subject to Morgan Stanley’s credit risk.

Morgan Stanley Finance LLC prices market-linked notes due March 30, 2028, fully and unconditionally guaranteed by Morgan Stanley, with an aggregate principal amount of $140,000 (140 notes of $1,000 each) issued at $1,000 per note. The notes pay no interest and return $1,000 at maturity if the Morgan Stanley Amplitude Index is flat or down; if the index finishes above the initial level of 206.52 (the strike on June 25, 2026), holders receive the stated principal plus an upside payment equal to the participation rate of 200% times the index percent change. The estimated value on the pricing date is $947.00 per note, and MS&Co. will receive a $20 commission per note (proceeds to issuer: $137,200). Payments are subject to issuer/guarantor credit risk; the notes are unsecured, not listed, and do not pay periodic interest.

Morgan Stanley Finance LLC priced a series of Trigger PLUS principal-at-risk securities linked to the S&P 500® Futures Excess Return Index. The offering totals $2,844,000 (aggregate principal), with a $1,000 stated principal per security and an original issue date of June 30, 2026.

At maturity on June 30, 2031, investors either receive principal plus a 200% leveraged upside if the final level exceeds the initial level (initial level 590.78), principal only if the final level is between the initial level and the 70% downside threshold (413.546), or a loss proportional to the underlier decline if below the threshold. The estimated value on the pricing date was $944.80 per security; commissions of $40 per security reduce proceeds to the issuer.

Morgan Stanley Finance LLC is offering Principal at Risk securities linked to the worst-performing share of AMD, Marvell and Micron. The securities have a stated principal amount of $1,000 per security and aggregate principal amount of $1,550,000. They pay a fixed coupon at an annual rate of 21.25% monthly, feature automatic early redemption if all three underliers meet their call thresholds on a redemption determination date, and mature on June 29, 2028. If not called, payment at maturity depends on the worst-performing underlier versus its downside threshold (60% of the initial level); a final shortfall can cause investors to lose up to their entire principal. All payments are subject to the issuer and guarantor credit risk and U.S. federal tax treatment is described as uncertain in the pricing supplement.

Morgan Stanley Finance LLC is offering Principal at Risk notes due June 30, 2031 backed by Morgan Stanley with a stated principal amount of $1,000 per security and an aggregate principal amount of $613,000. The notes pay a contingent coupon of 12.50% per annum on scheduled coupon dates only if the S&P® 500 Futures 40% Intraday 4% Decrement VT Index (the underlier) closes at or above the coupon barrier level on the related observation date. The initial level and call threshold are 3,268.11; the coupon barrier is 2,287.677 (70% of initial) and the downside threshold is 1,960.866 (60% of initial). The notes may auto-redeem beginning after the first redemption determination date if the underlier meets the call threshold on a determination date; otherwise, at maturity investors receive principal only if the final level is at or above the downside threshold, or a pro rata principal payment if below, exposing investors to full principal loss if the underlier falls sufficiently. The issue price is $1,000 (estimated value on pricing date: $901.70); agent commission per security is $42.50, with proceeds to issuer shown in the supplement.

Morgan Stanley Finance LLC is offering buffered, auto-callable Principal at Risk notes due July 7, 2028, 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 securities may be automatically redeemed on the first determination date (July 15, 2027) if the underlier closing level is at or above the call threshold (100). If not called, payoff at maturity depends on the final level versus the initial level (100) and a 15% buffer: above initial pays principal plus a 125% participation in upside; between buffer (85) and initial returns principal; below buffer causes a loss of 1.1765% per 1% decline beyond the buffer. Estimated value on the pricing date is approximately $968.20 per security. All payments are subject to issuer credit risk and there is no guaranteed minimum payment at maturity.

Morgan Stanley Finance LLC priced contingent income auto-callable notes linked to Netflix, Inc. common stock. The offering totals $3,441,000 at a $1,000 issue price per security with an estimated value of $965.90 on the pricing date. The notes pay a contingent coupon at an annual rate of 12.15% on observation dates when the closing level of Netflix is at or above the coupon barrier of $48.212 (68% of the initial level). The initial/strike level is $70.90 (set on June 25, 2026), the final observation date is July 26, 2027, and the stated maturity is July 29, 2027. If not auto‑redeemed, investors receive principal at maturity only if the final level is at or above the downside threshold ($48.212); otherwise payment is the stated principal multiplied by the performance factor and could be significantly below principal or zero. All payments are subject to issuer and guarantor credit risk.

Morgan Stanley Finance LLC priced a $1,473,000 issuance of auto-callable, principal-at-risk notes due June 28, 2029, fully guaranteed by Morgan Stanley. Each security has a $1,000 issue price and an estimated value of $957.00 on the pricing date. The notes reference the worst performing of the Russell 2000® and the S&P 500®, carry a 150% participation rate for upside at maturity, and feature an automatic early redemption on the first determination date of July 2, 2027 for an early redemption payment of $1,127.50 per security. If neither underlier triggers early redemption, maturity payoffs depend on the worst performing underlier versus its downside threshold (70% of initial level), exposing holders to a potential full loss of principal.

Morgan Stanley Finance LLC priced contingent income auto-callable securities linked to Amazon.com, Inc. common stock. The securities were issued at $1,000 per security with an estimated value of $966.70 and aggregate principal of $5,264,000. They pay a contingent coupon of 10.20% annual subject to observation-date barriers, feature automatic early redemption if the underlier closes at or above $227.01 on any redemption determination date, and return principal at maturity only if the final level is at or above the downside threshold of $156.637 (69% of the initial level); otherwise payment at maturity equals principal × (final level / initial level) and could result in substantial loss of principal. All payments are subject to the issuer’s and guarantor’s credit risk.

Morgan Stanley Finance LLC is offering Principal at Risk callable contingent income securities due June 28, 2029, fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and an aggregate principal amount of $763,000. The securities pay a contingent coupon at an annual rate of 13.50% for an interest period only if the closing level of each of the three underliers meets or exceeds its coupon barrier level on the related observation date. The securities are linked to the worst performing of the EURO STOXX 50® Index, the iShares® Expanded Tech-Software Sector ETF and the S&P 500® Index; downside exposure is to the worst performing underlier and could result in loss of principal proportional to that underlier’s decline. The issuer may call the securities on specified redemption dates beginning January 4, 2027 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, principal-at-risk notes 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 and an aggregate principal amount of $252,000. They pay a contingent coupon at an annual rate of 7.50% only when both underliers meet coupon barrier levels on observation dates, feature automatic early redemption if both underliers meet call thresholds on redemption determination dates, and expose investors to losses beyond an 15% buffer, subject to a 15% minimum payment at maturity. All payments depend on the issuer’s and guarantor’s creditworthiness.

Morgan Stanley Finance LLC priced a Buffered PLUS linked to the Russell 2000® Index. Each security has a $1,000 stated principal amount and an original issue price of $1,000. The securities provide 110% leverage on upside subject to a $1,212.50 maximum payment and a 10% buffer (final payout protects the first 10% of index decline). If the final level is below the buffer, investors lose 1% of principal for each 1% decline beyond the buffer; the minimum payment at maturity is 10% of principal. The pricing date and strike date are July 10, 2026, original issue date July 15, 2026, observation date August 10, 2027 and maturity date August 13, 2027. All payments are unsecured obligations of MSFL and fully and unconditionally guaranteed by Morgan Stanley; payments are subject to the issuer and guarantor credit risk.

Morgan Stanley Finance LLC priced $2,418,000 of Principal-at-Risk, contingent-coupon, auto-callable notes due June 30, 2031, fully guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and an issue price of $1,000 per security.

The notes pay a contingent annual coupon of 9.75% on observation dates if the underlier closes at or above the coupon barrier (75% of the initial level). The notes include an automatic early redemption feature (call threshold 90% of initial level) and a 15% downside buffer at maturity; if the final level is below the buffer, principal is reduced pro rata subject to a 15% minimum payment. Estimated value on the pricing date was $907.20 per security. All payments are subject to Morgan Stanley's credit risk.