Every 424B that Morgan Stanley (MS) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow MS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MS filings page.
Morgan Stanley Finance LLC is offering principal-at-risk, contingent-coupon, auto-callable notes linked to Meta Platforms, Inc. Class A common stock. Each security has a $1,000 stated principal amount and a $1,000 original issue price. The notes pay a contingent coupon at an annual rate of 10.38% on specified observation dates if the closing level of the underlier meets the coupon barrier (70% of the initial level). The notes are automatically redeemed early if the closing level on a redemption determination date is at or above the call threshold (initial level). At maturity, if the final level is below the buffer level (70% of initial), investors suffer a loss calculated with a downside factor of 1.4285; there is no minimum payment. All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable notes linked to the common stock of Micron Technology, Inc. (underlier) with a stated principal amount of $1,000 per security and an issue price of $1,000. The securities pay a contingent coupon at an annual rate of 43.08% on observation dates when the closing level of the underlier is at or above the coupon barrier ($629.106, 60% of the initial level). The notes may be automatically redeemed early if the closing level meets or exceeds the call threshold ($1,048.51) on specified redemption determination dates. If not redeemed, maturity payment depends on the final level relative to the buffer level ($629.106, 60%): holders receive full principal if the final level is at or above the buffer level; if below, investors suffer losses equal to 1.6667% of principal for each 1% decline beyond the 40% buffer. Estimated value on the pricing date was approximately $987.60 per security. All payments are subject to Morgan Stanley and MSFL credit risk and tax treatment is uncertain.
Morgan Stanley Finance LLC is offering Structured Investments — Buffered Jump Securities with an Auto-Callable feature, fully and unconditionally guaranteed by Morgan Stanley. The securities have a stated principal amount of $1,000 per security, an issue price of $1,000, a pricing and strike date of July 1, 2026, an original issue date of July 7, 2026 and maturity on July 7, 2031. The securities pay no interest, include an automatic early redemption if the closing level of the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index meets the call threshold on a determination date (first determination date July 2, 2027), and offer a 15% buffer with a minimum payment at maturity equal to 15% of principal. The document states an estimated value on the pricing date of approximately $907.90 per security and notes all payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC issued a Preliminary Pricing Supplement dated June 25, 2026 for market-linked, principal-at-risk securities linked to the common stock of Vicor Corporation due June 29, 2029.
The securities have a face amount of $1,000 per security, an estimated value on the pricing date of $939.20 ("within $30.00 of that estimate"), a 150% participation rate in upside performance, a 40% downside buffer and an automatic call feature with a call payment representing at least a 28.00% call premium. The pricing date is June 26, 2026 and the original issue date is July 1, 2026. All payments are subject to the issuer’s and guarantor’s credit risk.
Morgan Stanley Finance LLC is issuing principal‑at‑risk, dual‑underlier buffered participation securities with a stated principal amount of $1,000 per security. The securities mature on August 26, 2027 and reference the Nasdaq‑100 and S&P 500 indices, with the payment at maturity determined by the worst performing underlier on the August 23, 2027 observation date.
Terms include a 15% buffer (85% buffer level), 100% upside participation capped at a $1,189 maximum payoff per security, an estimated value on the pricing date of $983.30 per security, and an aggregate offering size of $4,100,000. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC priced principal-at-risk, auto-callable notes linked to the Russell 2000® Index. The securities are $1,000 stated principal per security, offered at $1,000 with an aggregate principal amount of $1,650,000 and an estimated value on the pricing date of $983.30.
The notes mature on June 26, 2031 with a first determination date of June 30, 2027. They auto-redeem if the underlier closes at or above the call threshold (initial level 2,975.481) on the first determination date for an early redemption payment of $1,150.60. If not called, maturity payout depends on the final level: investors receive principal plus an upside payment if final level > initial level; full principal if final level ≥ downside threshold (2,082.837, 70% of initial); otherwise principal is reduced pro rata and could be zero. All payments are unsecured and guaranteed by Morgan Stanley and subject to issuer credit risk.
Morgan Stanley Finance LLC is offering $3,000,000 aggregate principal amount of structured, principal-at-risk notes due September 28, 2027, each with a $1,000 stated principal amount and fully guaranteed by Morgan Stanley. The securities are dual-directional buffered participation notes linked to the worst performing of the Nasdaq-100 Index and the S&P 500 Index. Key economic terms: upside participation 100.10%, absolute return participation 150%, a 10% buffer level, and a 10% minimum payment at maturity. The estimated value on the pricing date was $982.80 per security. These notes pay no interest, may return less than principal if the worst performing underlier closes below the buffer level on the observation date, and are sold to fee-based advisory accounts with certain structuring and analytics fees disclosed.
Morgan Stanley Finance LLC is offering $3,229,000 aggregate principal of contingent income auto-callable securities backed by Tractor Supply Company common stock, fully and unconditionally guaranteed by Morgan Stanley. The notes pay a contingent coupon only if observation-date levels meet a 50% barrier, carry a 15.00% annual coupon rate (if payable), and feature automatic early redemption if the underlier meets the call threshold on specified redemption determination dates. If not redeemed, maturity payoff returns principal only if the final level is at or above $14.84 (50% of the initial level); otherwise maturity payment equals principal × (final level / initial level), exposing investors to full downside risk. The issue price is $1,000 per security, estimated value on the pricing date was $968.70, and the securities are unsecured obligations of MSFL with credit exposure to Morgan Stanley.
Morgan Stanley Finance LLC priced Principal at Risk notes linked to Nebius Group N.V. class A ordinary shares. The notes have a $1,000 stated principal amount per security, an aggregate principal amount of $500,000, an original issue date of June 26, 2026 and a maturity date of July 1, 2027. If the final level on the observation date is at or above the downside threshold (50% of the initial level), holders receive principal plus a fixed $632.50 upside payment; if the final level is below the downside threshold, holders incur losses equal to the percentage decline in the underlier (no minimum payment). All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley and are subject to the issuer’s credit risk.
Morgan Stanley Finance LLC is offering structured Principal at Risk securities. The notes have a stated principal amount of $1,000 per security with an aggregate issue of $3,710,000, tied to the worst performing of the Nasdaq-100 and S&P 500 indices. The securities mature on July 28, 2027 and pay no interest.
At maturity investors may receive up to a $1,165 payout per security if the worst performing underlier gains, a capped positive return if the worst performing underlier declines but stays above a 15% buffer, or suffer losses beyond the buffer down to a minimum payment of 15% of principal. All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC priced $337,000 of Dual Directional Buffered PLUS securities due June 28, 2028, linked to the iShares MSCI South Korea ETF (EWY). Each security has a $1,000 stated principal amount and was issued at $1,000 with an estimated value of $935.10 on the pricing date. The payment at maturity depends on the closing level of the underlier on the observation date (June 23, 2028): upside is leveraged at 150% up to a $1,950 cap; a 20% buffer applies to limited declines, and the minimum payment at maturity is 20% of principal. All payments are subject to the issuer and guarantor credit risk of Morgan Stanley.
Morgan Stanley Finance LLC is offering Contingent Income Memory Securities due June 27, 2030, fully and unconditionally guaranteed by Morgan Stanley. The securities have a stated principal amount of $1,000 per security and aggregate principal amount of $1,646,000. They pay a contingent coupon of 10.10% per annum on each coupon payment date only if the closing level of each underlier is at or above its coupon barrier on the related observation date; unpaid coupons may only be paid later if all underliers meet the coupon barrier on a subsequent observation date. At maturity investors receive principal if each underlier is at or above its 70% downside threshold; otherwise payment equals the stated principal multiplied by the performance factor of the worst performing underlier, which can result in a substantial loss or a zero payment. The securities are linked to the EURO STOXX 50®, Nasdaq-100® Technology Sector and Russell 2000® indices, are unsecured obligations of MSFL and are subject to Morgan Stanley credit risk and model-based estimated value considerations.
Morgan Stanley Finance LLC priced a series of Dual Directional Buffered PLUS linked to Blackstone Inc. common stock. 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 $985.20, an initial level of $120.07 and mature on June 28, 2028.
Payments at maturity depend on the closing level of Blackstone on the observation date: upside returns equal 150% of appreciation subject to a $1,628.50 cap; if the final level falls but stays at or above an 80% buffer (buffer level $96.056) investors receive a capped positive return; if below the buffer investors lose principal beyond the 20% buffer (minimum payment 20% of principal). All payments are subject to MSFL/Morgan Stanley credit risk and tax treatment is uncertain.
Morgan Stanley Finance LLC is offering Buffered PLUS principal-at-risk securities linked to the worst performing of the Nasdaq-100, Russell 2000 and S&P 500. The securities have a stated principal of $1,000 per security, a 20% buffer and a 108.60% leverage factor on upside. At maturity the payout depends on the worst performing underlier on the observation date: full participation in upside with leverage if that underlier finishes above its initial level; return of principal if performance is between the buffer and initial level; and losses beyond the buffer if the worst underlier finishes below its buffer, subject to a 20% minimum payment. All payments are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley; market and credit risk, valuation costs and tax treatment uncertainties are disclosed.
Morgan Stanley Finance LLC offers Principal-at-Risk contingent income auto-callable securities fully and unconditionally guaranteed by Morgan Stanley. The offering consists of $2,134,000 aggregate principal at $1,000 per security with an issue price $1,000 and an estimated value $980.70 on the pricing date. The notes pay a contingent coupon at an annual rate of 10.25% on observation dates when the underlier, Exxon Mobil Corporation common stock, is at or above the coupon barrier level ($97.811, 70% of the initial level). Automatic early redemption can occur on specified redemption determination dates if the underlier is at or above the call threshold ($139.73). If not redeemed, maturity payments return principal only if the final level is at or above the downside threshold ($97.811); otherwise holders suffer losses equal to the percentage decline in the underlier and could lose their entire investment. All payments are subject to issuer credit risk. Commission and structuring fees reduce proceeds to the issuer to $981.50 per security.
Morgan Stanley Finance LLC offers structured, principal-at-risk notes due July 1, 2031 linked to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index. Each security has a $1,000 stated principal amount, 325% participation in upside, a 4.0% per annum decrement to the underlier, and an automatic early redemption feature on the first determination date of June 30, 2027.
The securities pay no interest, may be automatically redeemed for an $1,252.50 early redemption payment, and at maturity can return principal plus upside, return only principal, or suffer loss pro rata to the underlier (potentially to zero) if the final level is below the 50% downside threshold. Estimated value on pricing date was approximately $942.80 per security; all payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC offers Structured Investments — Step-Down Jump Securities with an auto-callable feature — due July 6, 2029. Each security has a stated principal amount of $1,000 and an original issue price of $1,000. The securities are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley. They are automatically redeemable on specified determination dates if the closing level of the underlying basket meets or exceeds call thresholds; early redemption payments correspond to an approximate return of 12.90% per annum. If not redeemed, maturity payoffs depend on the final level versus the upside threshold (90%) and downside threshold (70%): the maximum stated payment at maturity shown is $1,387.00, while poor performance can result in substantial principal loss, possibly to zero. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC priced market-linked, auto-callable principal-at-risk securities linked to the common stock of Super Micro Computer, Inc. with a face amount of $1,000 per security and a maturity date of July 8, 2027. The contingent coupon rate will be set on the pricing date and will be at least 36.50% per annum. The issuer estimates the securities' value on the pricing date at $959.10 per security, or within $25.00 of that estimate. Payments depend on monthly calculation-day closing prices versus threshold levels (coupon threshold = 50% of the starting price; downside threshold = 50% of the starting price), the securities may be automatically called beginning after a six-month non-call period, and holders are exposed to credit risk of Morgan Stanley and to a potential loss of more than 50% of principal if the ending price is below the downside threshold.
Morgan Stanley Finance LLC is offering Principal-at-Risk, contingent-income, memory buffered auto-callable securities due July 15, 2031. Each security has a $1,000 stated principal amount and an issue price of $1,000 per security; the estimated value on the pricing date was approximately $905.30 per security.
The securities pay a contingent coupon at an annual rate of 10.60% to 11.60% only if the closing level of the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index meets the coupon barrier on observation dates. They are automatically redeemed if the index closes at or above the call threshold (100% of the initial level) on any redemption determination date. At maturity, if not called, investors receive principal only if the final level is at or above the buffer level (85% of initial); below that level the payment equals principal × (performance factor + 15% buffer), subject to a minimum payment of 15% of principal. All payments are subject to Morgan Stanley Finance LLC credit risk and guaranteed by Morgan Stanley.
Morgan Stanley Finance LLC is offering structured, principal‑at‑risk notes due July 12, 2030, fully and unconditionally guaranteed by Morgan Stanley. The notes have a stated principal amount of $1,000 per security and an estimated pricing‑date value of approximately $881.20 per security. The notes feature automatic early redemption on specified determination dates if the underlier (a five‑stock basket) closes at or above a call threshold level of 95. Early redemption payments rise across dates (from $1,200 to $1,750), and the payment at maturity can be $1,800, the stated principal, or a reduced amount equal to the stated principal multiplied by the performance factor (final level / initial level), with a downside threshold of 50 (50% of the initial level). All payments are subject to issuer credit risk; investors may lose their entire investment.
Morgan Stanley Finance LLC offers Leveraged Buffered S&P 500® Index-Linked Notes due in roughly 13–15 months, fully and unconditionally guaranteed by Morgan Stanley. Each note has a $1,000 Face Amount. The notes provide 150% upside participation up to a Maximum Settlement Amount (expected $1,120.00–$1,140.70 per $1,000). A 10.00% buffer protects against declines up to that amount; losses occur if the index falls more than 10.00% (you could lose substantially or all principal). The issuer estimates Trade Date value at approximately $986.70 per note and will receive $989.20 net proceeds per note after a dealer concession. All payments are subject to Morgan Stanley credit risk; notes are unsecured, non‑interest bearing, not FDIC insured and not exchange listed.
Morgan Stanley Finance LLC is offering Principal at Risk notes (auto-callable Buffered Jump Securities) due July 6, 2029 linked to the worst performing of the Nasdaq-100® Technology Sector, the S&P 500® Index and the State Street® Consumer Discretionary Select Sector SPDR® ETF. Each security has a stated principal amount of $1,000 and an estimated value on the pricing date of approximately $953.40. The notes pay no regular interest, offer a 25% buffer against declines in the worst performing underlier, and a 110% participation rate in upside if final levels exceed initial levels. An automatic early redemption may occur on the first determination date (July 7, 2027) for an early redemption payment of $1,150 per security if each underlier meets its call threshold. If the worst performing underlier falls below the buffer at maturity, investors lose 1% of principal for each 1% decline beyond the buffer; the minimum payment at maturity is 25% of principal. All payments are subject to MSFLs and Morgan Stanley's credit risk.
Morgan Stanley Finance LLC is offering callable, principal‑at‑risk notes due June 29, 2029 linked to the worst performing of three State Street ETFs. The securities have a stated principal amount of $1,000 per security and pay a contingent coupon at an annual rate of 12.20% only if each underlier is at or above its coupon barrier on observation dates.
The securities may be called beginning December 31, 2026 if a risk neutral valuation model indicates redemption is economically rational for the issuer. At maturity investors receive principal only if each underlier is at or above its 70% downside threshold; otherwise repayment equals the stated principal multiplied by the performance factor of the worst performing underlier, which could result in a total loss.
Morgan Stanley Finance LLC is offering callable, principal-at-risk notes due June 29, 2029 linked to the worst performing of the Global X Uranium ETF (URA), iShares Silver Trust (SLV) and SPDR Gold Trust (GLD). The notes have a stated principal amount of $1,000 per security and pay a contingent coupon at an annual rate of 19.75% only when the closing level of each underlier meets or exceeds its coupon barrier on an observation date. If any underlier is below its downside threshold at maturity, the payment equals the stated principal multiplied by the performance factor of the worst performing underlier, which could result in a significant loss or total loss of principal. The issuer may call the notes on specified redemption dates after a valuation-model determination; estimated value on the pricing date was approximately $945.00 per security. All payments are subject to Morgan Stanley and MSFL credit risk; investors will not participate in any upside of the underliers.
Morgan Stanley Finance LLC published a preliminary pricing supplement for a structured, market-linked offering: contingent fixed return and contingent downside principal-at-risk securities linked to the lowest performing common stock of Broadcom Inc. and Micron Technology, Inc. The securities have a $1,000 face amount, an estimated value of approximately $953.00 per security (± $25), a preliminary contingent fixed return of at least 43.00% (approximately $430 per $1,000 face amount), a pricing date of June 26, 2026 and a scheduled maturity of July 15, 2027. The securities pay the face amount plus the contingent fixed return only if the lowest performing underlying stock's ending price is at or above its threshold (50% of its starting price); otherwise the holder is exposed to the full downside of the lowest performing underlying stock at maturity. The document highlights transaction costs, dealer commissions and material risks including issuer credit risk, limited secondary market liquidity and uncertain U.S. federal tax treatment.
Morgan Stanley Finance LLC priced a Buffered PLUS principal-at-risk note program: $1,000 stated principal per security, aggregate $1,118,000, with an observation date of June 22, 2032 and maturity on June 25, 2032. The securities pay no interest and provide a 231% leverage factor on upside above the initial level of 600.17, an 85% buffer level of 510.145, and a minimum payment at maturity equal to 15% of principal.
At maturity investors receive principal plus leveraged upside if the final level > initial level; full principal if final level ≥ buffer level; and pro rata losses beyond the 15% buffer if final level < buffer level. All payments are unsecured obligations of MSFL and are unconditionally guaranteed by Morgan Stanley; payments remain subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC is offering callable, principal-at-risk structured notes—"Callable Dual Directional Jump Securities"—linked to the S&P 500® Futures Excess Return Index. Each security has a $1,000 stated principal amount and matures on July 3, 2031.
The notes feature a call right beginning on July 13, 2027 with fixed early redemption payments (first scheduled redemption payment $1,120). If not called, maturity payoffs: (1) if the final level > initial level, investors receive principal plus upside at a 500% participation rate; (2) if final level ≤ initial but ≥ downside threshold (which is 60% of initial), investors receive principal plus a positive absolute-return-based payment (capped at 40%); (3) if final level < downside threshold, investors suffer proportional principal loss (payment = stated principal × final/initial).
The estimated value on the pricing date was approximately $962.40 per security; all payments are subject to Morgan Stanley’s credit risk and the issuer may redeem early based on a risk neutral valuation model.
Morgan Stanley Finance LLC is offering Buffered PLUS principal-at-risk securities linked to the iShares® Semiconductor ETF (SOXX). Each security has a $1,000 stated principal amount, a 200% leverage factor on upside (capped at a $1,492.50 maximum payment) and a 10% buffer (90% buffer level). The securities mature on August 26, 2027 with the observation date on August 23, 2027. If the final level is below the buffer level, investors lose 1% for each 1% decline beyond the buffer; if the final level is between the buffer level and the initial level, investors receive principal; if above the initial level investors receive leveraged upside subject to the cap. All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley. Purchasers bear issuance costs included in the $1,000 issue price; the estimated value on the pricing date was $969.30 per security.
Morgan Stanley Finance LLC priced buffered jump, auto-callable principal-at-risk notes tied to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. Each security has a $1,000 stated principal amount and an estimated value on the pricing date of $909.40. The notes pay no regular interest, include a 15% buffer (buffer level 1,196.001), and may be automatically redeemed on scheduled determination dates if the underlier is at or above the call threshold (initial level and call threshold: 1,407.06). If not called, maturity payouts vary: $1,905.00 if final level ≥ call threshold; $1,000 if final level ≥ buffer level; otherwise investors absorb losses beyond the 15% buffer, with a minimum payment of 15% of principal. All payments are subject to MSFL's and Morgan Stanley's credit risk. The offering aggregates $251,000 of principal; agent commissions total $42.50 per security.
Morgan Stanley Finance LLC priced Principal-at-Risk notes that are fully guaranteed by Morgan Stanley: $1,000 stated principal per security, aggregate $271,000, issued at $1,000 with an estimated value of $934 on the pricing date. The notes pay a contingent coupon of 13.00% per annum on specified observation dates only if the underlier meets the coupon barrier.
Automatic early redemption may occur if the underlier equals or exceeds the call threshold (3,443.92) on a redemption determination date. At maturity (June 26, 2031) investors either receive principal if the final level is at or above the downside threshold (2,066.352) or a pro rata payment equal to the performance factor (final level / initial level), exposing holders to full principal loss. All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC priced contingent income auto-callable securities linked to Super Micro Computer, Inc. stock. The issue totals $317,000 aggregate in $1,000 denominations with a stated principal amount of $1,000 per security and maturity on June 27, 2029. The securities are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley.
The notes pay a contingent coupon at an annual rate of 26.85% on scheduled coupon dates only if the underlier’s closing level on each observation date meets or exceeds the coupon barrier of $17.73 (50% of the initial level). The initial/strike closing level was $35.46, which also sets the call threshold at $35.46. If not auto-redeemed and the final level is $17.73 (50% of initial), holders suffer pro rata principal loss (performance factor = final/initial). Estimated value at pricing was $933.70 per security; agent commission was $28.50 per security.
Morgan Stanley Finance LLC is offering Principal-at-Risk auto-callable notes with an $867,000 aggregate principal amount at $1,000 per security. The securities pay a contingent coupon at an annual rate of 13.25% on observation dates when both underliers meet their coupon barrier levels. They reference the Nasdaq-100® Technology Sector (NDXT) and the Russell 2000® Index (RTY), have a maturity date of September 27, 2027, and may be automatically redeemed on specified redemption determination dates beginning December 22, 2026.
If not auto‑redeemed, a payment at maturity will be the stated principal if each underlier’s final level is at or above its downside threshold (75% of the initial level); otherwise the maturity payment equals the stated principal times the performance factor of the worst performing underlier, potentially resulting in a complete loss of principal. All payments are subject to Morgan Stanley’s credit risk. The estimated value on the pricing date was $978.70 per security.
Morgan Stanley Finance LLC priced Principal at Risk notes linked to the S&P 500® Index. The offering consists of $1,773,000 aggregate principal in securities at a stated principal amount of $1,000 per security, issued June 25, 2026 with maturity July 27, 2027. Payments depend on the final level on the observation date (July 22, 2027): upside participation is 100% capped at a $1,075 maximum payoff; an absolute-return participation of 100% applies if the index declines but remains at or above an 80% buffer level; if the index is below the buffer, losses occur 1:1 beyond the 20% buffer, subject to a minimum payment of 20% of principal. All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley; market value and recovery depend on Morgan Stanley creditworthiness. The estimated value on pricing date was $990.80 per security.
Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable notes linked to the S&P® 500 Equal Weight Index with a stated principal amount of $1,000 per security and an aggregate principal amount of $927,000. The notes are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley.
The notes have a strike/initial level of 8,498.69, a first determination date of June 29, 2027 for automatic early redemption (call threshold 100% of the initial level) and a maturity date of June 27, 2029. If automatically redeemed on the first determination date, the early redemption payment is $1,090 per security. At maturity, payments depend on final index performance: investors may receive the principal plus an upside payment (participation rate 125%), return of principal, or a reduced payment proportional to the index decline (no minimum payment).
Morgan Stanley Finance LLC priced Principal at Risk securities due June 26, 2031, guaranteed by Morgan Stanley. The offering totals $654,000 in aggregate principal at an issue price of $1,000 per security. Each security has a stated principal amount of $1,000, an estimated value on the pricing date of $908.50, and a six‑year term linked to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index.
Investors may receive an 11.50% annual contingent coupon on specific observation dates if the underlier meets the coupon barrier; securities are automatically redeemed early if the underlier meets the call threshold on a redemption determination date. At maturity, holders receive principal only if the final level is at or above the 60% downside threshold; otherwise payment declines proportionally with the underlier and could be zero. All payments are subject to MSFL’s and Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is offering Structured Investments — Buffered Jump Securities with an auto-callable feature due June 27, 2029, 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 $986 on the pricing date. The securities reference the Dow Jones Industrial Average and the S&P 500® Index and pay at maturity based on the worst-performing underlier subject to a 15% buffer and a 201% participation rate for upside. An automatic early redemption for $1,100 per security can occur if both underliers are at or above their call thresholds on the first determination date. All payments are subject to issuer credit risk and these notes do not pay interest.
Morgan Stanley Finance LLC is offering auto-callable, principal-at-risk notes linked to the S&P 500 Index with a stated principal amount of $1,000 per security and an aggregate principal amount of $2,964,000. The notes pay no periodic interest and may be automatically redeemed on predetermined determination dates if the closing level of the underlier is greater than or equal to the call threshold level (initial level 7,472.79). If automatically redeemed on an early redemption date, investors receive a fixed early redemption payment (approximately 7.80% per annum equivalent; $1,078 on first early redemption date, $1,156 on second). At maturity, if not redeemed early, payments depend on the final level relative to the call threshold and a downside threshold (75% of the initial level: 5,604.593); losses occur 1% per 1% decline below that downside threshold. All payments are subject to MSFL's and Morgan Stanley's credit risk. The estimated value on the pricing date was $961.40 per security and the issue price was $1,000 (agent commission $20, proceeds to issuer $980 per security).
Morgan Stanley Finance LLC is offering Buffered PLUS principal-at-risk notes due June 27, 2029. The offering comprises securities with a stated principal amount of $1,000 per security and an aggregate principal amount of $4,434,000. The notes are unsecured obligations of MSFL, fully guaranteed by Morgan Stanley, and pay no interest.
The payoff is linked to the worst performing of the Dow Jones Industrial Average and the S&P 500® Index. Key economic terms: leverage factor 124%, buffer 15% (i.e., protection down to 85% of the initial level), and a minimum payment at maturity of 15% of principal. If the worst performing underlier ends above its initial level, investors receive principal plus 124% of that underlier’s appreciation; if the worst performing underlier ends below the buffer, losses occur dollar-for-dollar beyond the 15% buffer. The original issue price is $1,000 with an estimated value on the pricing date of $986.80.
Morgan Stanley Finance LLC priced principal-at-risk, auto-callable Nasdaq-100 linked notes. The offering comprises $3,000,000 aggregate principal of securities priced at $1,000 per security with an original issue date of June 25, 2026 and maturity on June 27, 2029. The notes are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley. The notes pay no interest, carry principal-at-risk tied to the Nasdaq-100 Index®, feature an automatic early redemption if the underlier is at or above the call threshold on the first determination date, and provide a 125% participation rate in positive index performance at maturity if not called. All payments are subject to Morgan Stanley credit risk.
Key terms include an initial (and call threshold) level of 30,347.08, a downside threshold at 70% of the initial level (21,242.956), an early redemption payment of $1,157.50 per security if called on the first determination date (June 29, 2027), and an estimated value on the pricing date of $981.90 per security. The offering is targeted to fee-based advisory accounts and includes customary conflicts-of-interest disclosures; use-of-proceeds and hedging details are referenced to the product supplement.
Morgan Stanley Finance LLC priced a preliminary offering of principal-at-risk, fixed-coupon, auto-callable notes due July 15, 2031, fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal, a fixed coupon determined on the pricing date (announced range 7.10%–8.10% per annum), monthly coupon payments, an observation date of July 10, 2031, and automatic early redemption if the underlier meets the call threshold on any redemption determination date starting with July 12, 2027.
The notes reference the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index, include a 15% buffer (buffer level = 85% of the initial level), and a minimum payment at maturity of 15% of principal. The estimated value on the pricing date was approximately $919.80 per security.
Morgan Stanley Finance LLC is offering principal-at-risk structured notes linked to the worst performing of the Nasdaq-100, Russell 2000 and S&P 500. Each security has a stated principal amount of $1,000, an upside payment of $101 (10.10%) if no underlier breaches its 60% downside threshold, an observation date of July 26, 2027 and a maturity date of July 29, 2027. The estimated value on the pricing date was about $992.70 per security; all payments are subject to MSFL and Morgan Stanley credit risk and there is no guaranteed return of principal.
Morgan Stanley Finance LLC priced contingent-income, principal-at-risk notes linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. Each security has a $1,000 stated principal amount, a pricing/strike date of July 10, 2026 and a maturity date of July 15, 2031.
The notes pay a contingent coupon at an annual rate to be set on the pricing date (disclosed range 12.25%–13.25%), payable only if the underlier meets the coupon barrier on observation dates. They offer a 15% buffer before investor principal is exposed, a minimum maturity payment of 15% of principal, automatic early redemption mechanics beginning July 15, 2027, and an estimated value on the pricing date of approximately $906.60 per security.
Morgan Stanley Finance LLC is offering $749,000 aggregate principal of structured, principal-at-risk securities due June 26, 2031, 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 are auto-callable beginning with a first determination date on June 23, 2027 and pay fixed early redemption amounts if, on a determination date, the closing level of each underlier is at or above its call threshold. If not auto-redeemed, maturity payments depend on the worst performing underlier versus a 70% downside threshold; losses can be up to the full principal. Estimated value on the pricing date was $940.50 per security. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC priced principal-at-risk notes — contingent income auto-callable securities linked to the worst performing of the Nasdaq-100, Russell 2000 and S&P 500. The securities have a $1,000 stated principal per security (aggregate $2,517,000), an original issue price of $1,000, and an estimated value on the pricing date of $981.00. They pay a contingent coupon of 10.75% per annum on each coupon payment date only if the closing level of each underlier is ≥ its coupon barrier (75% of initial level) on the related observation date. The notes mature on March 27, 2031 with automatic early redemption opportunities beginning on the first redemption determination date of December 22, 2026. If not auto‑redeemed, maturity payment is either the stated principal (if each final level ≥ downside threshold (60%)) or the stated principal × performance factor of the worst performing underlier, exposing investors to full principal loss tied to worst underlier performance. All payments are subject to issuer and guarantor credit risk and U.S. federal tax treatment is described as uncertain.
Morgan Stanley Finance LLC offers contingent income, principal-at-risk notes due July 15, 2031 that are fully and unconditionally guaranteed by Morgan Stanley.
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 approximately $906.70. The securities pay a contingent coupon at an annual rate to be set on the pricing date (stated range 10.00% to 11.00%), are callable on scheduled dates beginning with the redemption determination date of July 12, 2027, and mature on July 15, 2031.
The notes include a buffer amount of 15%, a coupon barrier equal to 75% of the initial level, a call threshold equal to 90% of the initial level, and a minimum payment at maturity of 15% of principal; payment at maturity depends on the final level of the underlier.
Morgan Stanley Finance LLC is offering Principal at Risk Trigger Participation Securities linked to the S&P 500® Index. Each security has a $1,000 stated principal amount, a 100% participation rate, and a capped maximum payment at maturity of $1,810 per security (181% of principal). The strike and pricing date are June 30, 2026, original issue date July 6, 2026, observation date June 30, 2031 (subject to postponement) and maturity date July 3, 2031. If the final level is ≥ the initial level, holders receive principal plus appreciation up to the maximum; if final level is between the initial level and 70% of initial, holders receive principal; if final level is below 70% of initial, holders suffer pro rata principal loss (1% loss for each 1% decline). The estimated value on the pricing date is approximately $946.10 per security. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC priced contingent income, memory buffered, auto-callable notes with a stated principal of $1,000 per security that mature on July 15, 2031. The notes pay a contingent coupon (annual rate to be set on the pricing date, indicated between 9.35%–10.35%) only if the underlier meets coupon barrier tests on observation dates and may be automatically redeemed early if the underlier meets the call threshold on any redemption determination date. If not called, principal is returned at maturity if the final level is at or above the buffer level (85% of the initial level); if below the buffer level investors absorb losses beyond the 15% buffer, subject to a minimum payment of 15% of principal. Estimated value on the pricing date is approximately $955.00 per security. The notes are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley; all payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC offers structured Principal-at-Risk notes due July 15, 2031, fully and unconditionally guaranteed by Morgan Stanley. The securities have a $1,000 stated principal and an issue price of $1,000 per security; the estimated value on the pricing date was approximately $909.10.
The notes are linked to the S&P U.S. Equity Momentum 40% VT 4% Decrement Index, feature an automatic early redemption (first determination date July 13, 2027), a 15% buffer (buffer level = 85% of the initial level) and a 4% per annum decrement to the index. If not called, maturity payments depend on the final index level, with a minimum payment equal to 15% of principal.
Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable buffered jump securities with a stated principal of $1,000 per security. The securities reference the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index, feature a 20% buffer and automatic early redemption beginning on July 13, 2027. If not called, maturity is July 15, 2031 with final determination on July 10, 2031. Payments: early redemption payments are fixed ranges that correspond to approximately 17–18% per annum; if final level ≥ call threshold, maturity payment is stated between $1,850.00 and $1,900.00; if final level < buffer, investors lose 1% for each 1% drop beyond the buffer, subject to a 20% minimum payment. All payments are subject to Morgan Stanley and MSFL credit risk. The estimated value on the pricing date is approximately $909.40 per security.
Morgan Stanley Finance LLC is offering principal-at-risk, structured notes—"Buffered Jump Securities"—with a $1,000 stated principal per security and an original issue price of $1,000. The notes reference the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index, include a 15% buffer and a call threshold equal to 90% of the initial level. The securities may be automatically redeemed on periodic determination dates beginning July 13, 2027, with early redemption payments that correspond to approximately 13.25% to 14.25% per annum (actual amounts set on the pricing date). If not called, maturity is July 15, 2031; payout depends on the final index level and may result in significant principal loss if the final level is below the buffer. All payments are subject to Morgan Stanley's credit risk.