Every 424B that Morgan Stanley (MS) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow MS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MS filings page.
Morgan Stanley Finance LLC priced a principal-at-risk structured note linked to NVIDIA Corporation common stock. Each security has a stated principal amount of $1,000 and offers a fixed $141.60 upside payment if the final level is at or above a 60% downside threshold. If the final level is below that threshold, investors lose on a 1% for 1% basis of the underlier’s decline and could lose their entire principal. The observation date is July 30, 2027 and maturity is August 4, 2027. 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 offers Principal at Risk auto-callable securities linked to the worst performing of the Nasdaq-100 Technology Sector Index and the Russell 2000 Index. Each security has a stated principal amount of $1,000, a contingent coupon at an annual rate of 14.20%, a pricing and strike date of July 7, 2026, and a maturity date of October 13, 2027. Coupons are paid only if both underliers meet coupon barrier levels on observation dates; automatic early redemption occurs on specified redemption determination dates if both underliers meet call thresholds. If not redeemed, payment at maturity returns principal only if both underliers are at or above their downside thresholds (each set at 75% of initial levels); otherwise investors suffer a loss equal to the percentage decline of the worst performing underlier. All payments are unsecured obligations of MSFL and guaranteed by Morgan Stanley and are subject to issuer credit risk.
Morgan Stanley Finance LLC is offering principal-at-risk, contingent income auto-callable securities linked to the common stock of The Goldman Sachs Group, 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 at an annual rate of 12.70% on coupon dates only if the closing level of the underlier meets the coupon barrier (set at 70% of the initial level). The securities may be automatically redeemed early if the underlier meets the call threshold on scheduled redemption determination dates. At maturity, if not redeemed, investors receive principal only if the final level is at or above the downside threshold (also 70% of the initial level); otherwise payment is the stated principal multiplied by the performance factor and could be significantly less or zero.
Morgan Stanley Finance LLC is offering Principal at Risk auto-callable notes due July 3, 2031, backed by a full guarantee of Morgan Stanley. The notes have a $1,000 stated principal amount and an original issue price of $1,000 per security; estimated value on the pricing date was approximately $959.00. The notes pay a contingent annual coupon of 16.55% on observation dates when the underlier meets the coupon barrier (70% of the initial level). The notes will automatically redeem early if the underlier is at or above the call threshold (100% of the initial level) on any redemption determination date. At final maturity, if the final level is below the downside threshold (60% of the initial level), principal is reduced pro rata by the underlier’s performance factor and could be significantly less than the stated principal or zero. The underlier is the S&P® 500 Futures 40% Intraday 4% Decrement VT Index, which applies a 4% per annum daily decrement and uses intraday leverage and volatility targeting; its closing level on June 18, 2026 was 3,500.76. All payments are subject to issuer and guarantor credit risk; tax treatment is uncertain.
Morgan Stanley Finance LLC offers Principal-at-Risk, fixed-income, auto-callable notes linked to the common stock of NVIDIA Corporation. Each security has a stated principal amount of $1,000, a fixed annual coupon of 12.75%, monthly coupon payments and potential automatic early redemption tied to the underlier.
Pricing and strike dates are July 10, 2026 (original issue July 15, 2026); the observation date is August 10, 2027 and maturity is August 13, 2027. If not auto‑redeemed, principal is repaid at maturity only if the final level is at or above the downside threshold (60% of the initial level); otherwise principal is reduced pro rata to the underlier's decline.
Morgan Stanley Finance LLC is offering contingent income, principal-at-risk notes due June 28, 2029, fully guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and a preliminary contingent coupon rate of 9.30% per annum payable only if the underlier meets the coupon barrier on observation dates.
The notes reference the First Trust Nasdaq Cybersecurity ETF (CIBR). Key mechanics: coupon and downside barrier levels are 70% of the initial level; automatic early redemption can occur starting on September 24, 2026; maturity payment can be full principal if final level is at or above the downside threshold or a pro rata principal loss if below (payment = principal × final level/initial level). The estimated value on the pricing date is approximately $967.10 per security. All payments are subject to the issuers credit risk.
Morgan Stanley Finance LLC priced a preliminary offering of callable, principal-at-risk notes due January 3, 2028 that pay a 13.65% contingent coupon (annual rate) and have a stated principal amount of $1,000 per security. The notes are linked to the worst performing of the Dow Jones Industrial Average, the Nasdaq-100® Technology Sector Index and the Russell 2000® Index, are fully and unconditionally guaranteed by Morgan Stanley and are subject to early redemption beginning on the first redemption date of October 2, 2026 if a risk neutral valuation model determination indicates redemption is economically rational for the issuer. If not called, repayment at maturity returns $1,000 only if the final level of each underlier is at or above its downside threshold level (each set at 70% of its initial level), otherwise the maturity payment equals the stated principal multiplied by the performance factor of the worst performing underlier and could be significantly less or zero. All payments are subject to the issuer’s credit risk.
Morgan Stanley Finance LLC is offering Dual Directional Buffered PLUS notes due July 31, 2031, fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an original issue price of $1,000. The notes link to the S&P 500® Futures Excess Return Index, have a 114% leverage factor for positive returns, a 40% buffer (buffer level = 60% of the initial level), and a 40% minimum payment at maturity. The pricing and strike dates are July 28, 2026 and the original issue date is July 31, 2026. The document states an estimated value on the pricing date of approximately $934.60 per security and warns that payments are subject to issuer credit risk and that investors may lose a significant portion of their principal.
Morgan Stanley Finance LLC is offering Principal at Risk structured notes linked to the VanEck® Semiconductor ETF (SMH) with a stated principal amount of $1,000 per security. The notes have a pricing date of June 29, 2026, original issue date July 1, 2026 and maturity on March 24, 2028. The securities pay a contingent coupon at an annual rate of 18.50% on each coupon payment date only if the closing level of the underlier on the related observation date is at or above the coupon barrier level. The notes may be automatically redeemed early if the closing level on a redemption determination date is at or above the call threshold, in which case holders receive the stated principal plus the contingent coupon for that period. If not redeemed and the final level is below the downside threshold, holders suffer loss proportional to the decline in the underlier: payment at maturity equals the stated principal multiplied by the performance factor (final level/initial level), which could result in a total loss of principal. The document discloses an estimated value on the pricing date of approximately $965.70 per security and highlights material credit, liquidity, tax and sector concentration risks.
Morgan Stanley Finance LLC offers Principal-at-Risk Auto-Callable Securities with an aggregate principal amount of $2,500,000 and a stated principal amount of $1,000 per security. The securities pay a fixed annual coupon of 11.75%, are callable on set determination dates, and mature on June 30, 2027.
The notes are linked to the worst performing of the EURO STOXX 50®, the Nikkei Stock Average and the S&P 500®. If not auto‑redeemed, repayment at maturity depends on the final level of the worst performing underlier versus a 75% downside threshold; losses can be significant and may include total loss of principal. All payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is offering contingent income auto-callable securities linked to the common stock of NextEra Energy, Inc. The offering size is $2,589,000 in aggregate principal ($1,000 stated principal per security) and is fully and unconditionally guaranteed by Morgan Stanley. The notes pay a contingent coupon at an annual rate of 9.40% on observation dates where the closing level of the underlier meets or exceeds the coupon barrier of $60.011 (70% of the initial level). The securities may be automatically redeemed early if the underlier closes at or above the call threshold of $85.73 on any redemption determination date; if not redeemed, maturity payments depend on the final level relative to the downside threshold of $60.011, and investors can suffer a full or partial loss of principal. All payments are subject to issuer credit risk and tax treatment is described as uncertain in the pricing supplement.
Morgan Stanley Finance LLC priced a primary offering of structured, principal-at-risk notes. The pricing supplement shows an aggregate principal amount of $434,000 issued at $1,000 per security with an estimated value of $977.90 on the pricing date. The securities reference the State Street® SPDR® S&P® Oil & Gas Exploration & Production ETF (Bloomberg: XOP), mature on July 22, 2027, and pay either the stated principal plus a fixed $165 upside payment if the final level is at or above the 80% downside threshold, or a prorated payment tied to the underlier's performance if the final level is below that threshold. All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley and are subject to the issuer's credit risk. Purchase costs include a $10 sales commission and $1 structuring fee per security, reducing proceeds to MSFL to $989 per security (proceeds to issuer shown as $429,226 aggregate).
Morgan Stanley Finance LLC is offering Structured Investments Contingent Income Auto-Callable Securities with an aggregate principal amount of $657,000 and a stated principal amount of $1,000 per security.
The securities pay a contingent coupon at an annual rate of 16.30% on each coupon payment date only if the closing level of a five-stock basket is at or above a coupon barrier level of 70% on the related observation date. The notes feature automatic early redemption if the closing level is at or above a call threshold of 90% on specified redemption determination dates; early redemption returns the stated principal plus the contingent coupon for that period. At maturity, if the final level is below the downside threshold of 60%, investors suffer a loss equal to the performance decline (payment = stated principal × performance factor), potentially losing most or all principal. All payments are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley; payments are subject to issuer credit risk. The document lists key dates: strike date June 10, 2026, pricing date June 17, 2026, original issue date June 23, 2026, final observation date March 10, 2028, and maturity date March 15, 2028.
Morgan Stanley Finance LLC priced a series of callable, principal‑at‑risk notes due June 24, 2027 linked to the worst performer of the Nasdaq‑100, Russell 2000 and S&P 500. The securities pay a fixed coupon of 10.2038% annually (monthly payments) and have a stated principal amount of $1,000 per security with an aggregate issue size of $138,620,000. The notes may be called beginning on December 24, 2026 if a risk neutral valuation model indicates redemption is economically rational for the issuer. At maturity, if any underlier is below its downside threshold (70% of its initial level), the payment equals principal times the performance factor of the worst performing underlier, exposing investors to up to a total loss of principal. All payments are subject to Morgan Stanley’s credit risk; the estimated value at issuance was $987.60 per security.
Morgan Stanley Finance LLC priced a contingent-income, principal-at-risk structured note offering totaling $476,000. Each security has a $1,000 stated principal amount, an original issue date of June 23, 2026, a maturity date of June 23, 2031, and an estimated value on the pricing date of $911.90 per security.
The notes reference the S&P® 500 Futures 40% Intraday 4% Decrement VT Index, pay a contingent annual coupon of 11.85% subject to observation-date barriers, feature automatic early redemption if the index closes at or above the call threshold (3,403.14) on a redemption determination date, and expose holders to full downside below a 60% downside threshold (2,041.884) at maturity.
Morgan Stanley Finance LLC priced Buffered Jump Securities with an Auto-Callable Feature linked to the worst performing of the VanEck Gold Miners ETF (GDX) and the SPDR S&P Metals & Mining ETF (XME). The securities have a stated principal amount of $1,000 per security, aggregate principal amount of $445,000, estimated value on the pricing date of $950.70, and an issue price of $1,000. They pay no regular interest, have a 15% buffer and a 15% minimum payment at maturity, may auto‑redeem on scheduled determination dates for fixed early redemption payments (approximately 9.50% per annum equivalent on those dates), and mature on March 22, 2029. All payments are subject to MSFL's and Morgan Stanley's credit risk.
Morgan Stanley Finance LLC priced contingent income auto-callable notes. The notes (stated principal $1,000 per security) link to the worst performing of the Dow Jones Industrial Average, Nasdaq-100 and Russell 2000. They pay a contingent coupon of 8.15% per annum on each coupon date only if each underlier is at or above its coupon barrier on the related observation date. The securities are subject to automatic early redemption beginning on June 17, 2027 if all underliers meet call thresholds (100% of initial levels). At maturity (June 23, 2031), if any underlier is below its downside threshold (70% of initial), the payment equals principal multiplied by the performance factor of the worst performing underlier, producing losses up to total loss of principal. All payments are subject to issuer and guarantor credit risk and there may be little or no secondary market.
Morgan Stanley Finance LLC is offering $52,230,000 of callable contingent income memory buffered securities fully guaranteed by Morgan Stanley. The securities pay a contingent coupon at an annual rate of 10.15% if all three underliers meet coupon barrier levels on observation dates and mature on June 23, 2028 with principal at risk. The structure features a 25% buffer, a downside factor of 1.3333, and a call feature determined by a risk neutral valuation model. The original issue price is $1,000 per security, estimated value $991.60 on the pricing date; sales are limited to fee-based advisory accounts.
Morgan Stanley Finance LLC is offering Principal at Risk structured notes linked to the S&P 500® Index with a stated principal amount of $1,000 per security and aggregate principal of $1,050,000. The notes mature on July 21, 2027 and pay a fixed upside payment of $98 per security (9.80%) if the final level is at or above the downside threshold. If the final level is below the downside threshold (85% of the initial level), payoff decreases pro rata with the index and could result in total loss of principal. The offering price equals stated principal; the estimated value on the pricing date was $985.30, reflecting issuance and hedging costs. All payments are unsecured and guaranteed by Morgan Stanley; holders bear issuer credit risk and limited secondary market liquidity.
Morgan Stanley Finance LLC offers $4,629,000 aggregate principal of Buffered PLUS with Downside Factor notes due June 21, 2030, fully and unconditionally guaranteed by Morgan Stanley. The securities pay no interest and return at maturity depends on the worst performing of three underliers: the iShares S&P 500 Growth ETF, the S&P 500 Equal Weight Index and the S&P 500 Index.
Per security: $1,000 stated principal and issue price; estimated value on the pricing date was $986.90. If the worst performing underlier finishes above its initial level investors receive principal plus a 155.25% leverage of that appreciation. If the worst performing underlier finishes between its initial level and a 25% buffer (75% of initial), investors receive principal only. If it finishes below the buffer, investors lose 1.3333% of principal for every 1% decline beyond the buffer; there is no minimum payment and full loss is possible. All payments are subject to Morgan Stanley and MSFL credit risk.
Morgan Stanley Finance LLC is offering Principal at Risk securities linked to the S&P 500® Index with a stated principal amount of $1,000 per security and an aggregate principal amount of $700,000. The securities pay no interest and provide a fixed upside payment of $78 per security (7.80%) at maturity if the final level on the observation date is at or above the downside threshold (5,633.513, 75% of the initial level). If the final level is below that threshold, holders suffer a pro rata loss equal to the underlier’s decline (payment = stated principal × final level/initial level), and the payment could be zero. The original issue price is $1,000 and the estimated value on the pricing date is $985.50, reflecting issuance, distribution and hedging costs borne by investors. All payments are subject to the credit risk of Morgan Stanley and the securities are unsecured obligations of MSFL, guaranteed by Morgan Stanley.
Morgan Stanley Finance LLC priced callable, principal-at-risk notes—Structured Investments Callable Contingent Income Buffered Securities due June 22, 2029—issued at $1,000 per security with an aggregate principal of $2,951,000. The notes pay a 14.00% per annum contingent coupon for each interest period only if the closing level of each underlier meets or exceeds its coupon barrier on the related observation date. The notes are linked to the worst performing of the Dow Jones Industrial Average, Russell 2000 and the XLK ETF. A buffer of 20% protects investors from losses up to that amount; below the buffer investors suffer a loss equal to the shortfall of the worst performing underlier (1% loss per 1% decline beyond the buffer), subject to a minimum payment at maturity of 20% of principal. The issuer may redeem early on scheduled redemption dates beginning December 22, 2026 if a risk neutral valuation model indicates redemption is economically rational for the issuer. All payments are subject to Morgan Stanley's credit risk; the estimated value on the pricing date was $982.00 per security.
Morgan Stanley Finance LLC priced a principal-at-risk Trigger PLUS linked to the worst performing of IVW (iShares S&P 500 Growth ETF), the S&P 500 Equal Weight Index and the S&P 500 Index. The securities have a stated principal amount of $1,000 per security, an aggregate issuance of $2,935,000, and mature on June 22, 2029.
At maturity holders receive either the stated principal plus a 175% leveraged upside if the worst performing underlier is above its initial level, the stated principal if the worst performing underlier is between its initial level and its 70% downside threshold, or a principal loss equal to the full percentage decline of the worst performing underlier if it falls below the downside threshold. Payments are unsecured and guaranteed by Morgan Stanley and subject to issuer credit risk.
Morgan Stanley Finance LLC is offering Principal at Risk securities linked to the S&P 500® Index with a stated principal amount of $1,000 per security and aggregate principal of $775,000. The securities pay a contingent coupon at an annual rate of 7.80% on observation dates when the index closes at or above the coupon barrier level and may be automatically redeemed early if the index closes at or above the call threshold on specified redemption determination dates. The initial level and call threshold are 7,511.35; the coupon barrier and downside threshold are 5,633.513 (75% of the initial level). If not auto‑redeemed, holders receive principal at maturity only if the final level is at or above the downside threshold; otherwise the maturity payment equals the stated principal multiplied by the performance factor (final level divided by initial level), which could result in a complete loss of principal. Issue price is $1,000 per security, estimated value on pricing date was $985.00, pricing date June 17, 2026, and maturity July 21, 2027. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering $5,250,000 aggregate principal amount of Principal at Risk notes due July 21, 2027, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an original issue price of $1,000.
Payment at maturity depends on the S&P 500® Index closing level on the observation date July 16, 2027. If the final level is at or above the downside threshold level 6,009.08 (80% of the initial level), investors receive the stated principal plus a fixed upside payment of $89 (8.90%). If the final level is below the downside threshold, the payment equals the stated principal multiplied by (final level / initial level), and investors can lose up to their entire investment. The initial level is 7,511.35. The securities pay no interest, have no minimum payment at maturity, and all payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC priced principal-at-risk, auto-callable notes linked to the Russell 2000® Index with a stated principal amount of $1,000 per security and an aggregate principal amount of $200,000. The notes pay no interest, offer automatic early redemption beginning on June 21, 2027 if the closing level of the underlier is at or above the call threshold level of 2,917.982, and mature on June 22, 2029. If not called, maturity pays $1,417 per security when the final level is at or above the call threshold; otherwise payment equals the stated principal multiplied by the performance factor (final level/initial level), exposing investors to full downside of the Russell 2000 and potential loss of principal.
Morgan Stanley Finance LLC is offering $1,670,000 in Principal-at-Risk contingent income auto-callable securities, 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 reference Class A common stock of Meta Platforms, Inc. and pay a contingent coupon at an annual rate of 12.00% only if the closing level of the underlier on each observation date is at or above the coupon barrier level ($363.251, or 64% of the initial level). The initial/strike level is $567.58. The notes are automatically redeemed early if the closing level on any redemption determination date is at or above the call threshold ($567.58), in which case investors receive the stated principal plus the contingent coupon for that period. If not called, maturity payment is the stated principal if the final level is at or above the downside threshold ($363.251); otherwise the payment equals the stated principal multiplied by (final level / initial level), exposing investors to full downside (potentially zero). All payments are subject to issuer and guarantor credit risk; the estimated value on the pricing date was $967.90 per security and selected dealers receive a fixed commission of $22.50 per security.
Morgan Stanley Finance LLC priced structured, principal-at-risk notes linked to the worst performer of the MSCI EAFE (MXEA) and MSCI Emerging Markets (MXEF) indices. The securities have a $1,000 stated principal amount and an original issue price of $1,000 per security; the aggregate offering is $785,000.
The notes pay no interest, may be automatically redeemed on the first determination date for an early redemption payment of $1,225, and otherwise return principal at maturity only if index levels meet specified thresholds. If the worst-performing underlier falls below its downside threshold, holders lose in proportion to that decline; payments are subject to Morgan Stanley Finance LLC's and Morgan Stanley's credit risk.
Morgan Stanley Finance LLC is offering Principal at Risk structured notes linked to Micron Technology, Inc. common stock with a stated principal amount of $1,000 per security and an aggregate principal amount of $700,000. The securities pay a contingent coupon only if the underlier meets observation-date barriers and feature an automatic early redemption mechanism beginning on the first redemption determination date of June 10, 2027. If not redeemed, maturity is March 15, 2028; investors receive principal at maturity only if the final level is at or above the buffer level of $445.94 (50% of initial). Below the buffer, holders suffer losses at a downside factor of 2, potentially losing their entire investment. The estimated value on the pricing date was $972.00 per security and all payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC priced a structured note offering of Principal at Risk securities linked to the worst performing of Alphabet (class C), Microsoft and NVIDIA. The offering totals $336,000 in aggregate at $1,000 per security with an estimated value of $989.90 on the pricing date. Each security pays no interest, provides a fixed $155 upside payment at maturity if the worst performing underlier is at or above its 70% buffer level, and otherwise suffers a 1% principal loss for each 1% decline of the worst performing underlier beyond the 30% buffer, subject to a minimum payment of 30% of principal. Key dates include strike/pricing on June 17, 2026, original issue date June 23, 2026, observation date July 19, 2027 and maturity July 22, 2027. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC priced a principal-at-risk note linked to Micron Technology common stock that pays a contingent coupon and may auto-redeem. The notes have a stated principal amount of $1,000 per security, an issue price of $1,000, an estimated value of $954.00 on the pricing date and aggregate principal of $208,000. The contingent coupon is 31.75% per annum, payable only if the closing level of Micron is at or above a coupon barrier of $625.914 (60% of the initial level) on each observation date. The notes may be automatically redeemed if Micron closes at or above the call threshold of $1,043.19 (100% of the initial level) on any redemption determination date. At maturity, if the final level is below the downside threshold ($625.914), investors suffer principal loss pro rata to the underlier’s decline; if at or above that threshold, investors receive the stated principal. All payments are subject to Morgan Stanley Finance LLC and Morgan Stanley credit risk.
Morgan Stanley Finance LLC is offering Structured Investments — Enhanced Buffered Jump Securities due July 22, 2027, fully and unconditionally guaranteed by Morgan Stanley. Each note has a $1,000 stated principal amount and returns are linked to the worst performing of three indices with a 20% buffer and a fixed $114 upside payment if the worst performing underlier is at or above its buffer on the observation date.
The notes pay no interest, carry issuer credit risk, an estimated value on the pricing date of $984.90 per security and a minimum payment at maturity of 20% of principal. Payment outcomes depend solely on closing levels on the observation date of July 19, 2027.
Morgan Stanley Finance LLC priced a primary offering of principal-at-risk, auto-callable notes linked to the iShares® MSCI Taiwan Index Fund with an aggregate principal amount of $2,060,000 and a stated principal amount of $1,000 per security. The securities were issued at an issue price $1,000 (estimated value on the pricing date: $956.30) and mature on June 23, 2028.
The notes pay no interest, carry full principal risk and include an automatic early redemption feature on the first determination date of June 30, 2027. The call threshold and initial level are $105.11, the downside threshold is $89.344 (85% of the initial level), the early redemption payment is $1,231, the upside payment is $462, and the participation rate is 100%. If not called and the final level is below the downside threshold, investors suffer full downside exposure (payment = stated principal × performance factor).
Morgan Stanley Finance LLC priced a principal-at-risk note offering tied to the worst-performing common stock among Amazon, Microsoft and NVIDIA. The issue: $1,000 stated principal per security, aggregate $800,000. The securities pay a 12.00% contingent coupon on specified observation dates only if all three underliers meet coupon barrier levels, feature automatic early redemption if all underliers meet call thresholds on a redemption determination date, and expose investors to a 30% buffer with a downside factor of 1.4286 if the worst-performing underlier falls below its buffer at maturity. Estimated value on the pricing date was $956.80 and the issue price is $1,000 (agent commission $25 per security). Investors bear issuer credit risk, may receive no coupons, will not participate in upside of the underliers, and could lose some or all principal.
Morgan Stanley Finance LLC is offering structured, principal-at-risk notes due June 29, 2029 linked to the worst performing of Micron Technology common stock, the Roundhill Memory ETF (DRAM) and TSMC American depositary shares. Each security has a $1,000 stated principal amount and a 300% participation rate for upside if the final levels are above initial levels.
The securities feature an automatic early redemption if on the first determination date (July 2, 2027) each underlier is at or above its call threshold (100% of initial levels). The early redemption payment is $2,233 per security. If not called, maturity payment depends on worst-performing underlier: full upside (stated principal plus participation-based payment), return of principal only, or a pro rata loss (1% principal loss per 1% decline below a 70% downside threshold) that could result in total loss of principal.
Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable notes due June 29, 2028, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and will pay a fixed coupon at an annual rate of 21.25% until early redemption or maturity. The securities may be automatically redeemed on scheduled redemption dates if each underlier meets its call threshold, in which case holders receive principal plus the fixed coupon for the related interest period.
The payoff is linked to the worst performing of three underliers: AMD, Marvell (MRVL) and Micron (MU). If not auto-redeemed, holders receive principal at maturity only if the final level of each underlier is at or above its downside threshold or any underlier is at or above its initial level. If the worst performing underlier finishes below its downside threshold and all underliers finish below initial levels, the maturity payment equals the stated principal multiplied by the worst-performing underlier's performance factor, exposing investors to potential loss of principal (possibly to zero). All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering principal-at-risk, ETF-linked notes due in roughly 12 to 14 months, fully guaranteed by Morgan Stanley. Each note has a $1,000 Face Amount. The payment at maturity depends on the iShares Expanded Tech-Software ETF (Bloomberg: IGV) final level versus an 85% Threshold: if the Final Underlier Level is >= 85% of the Initial Underlier Level investors receive a capped Maximum Settlement Amount (expected between $1,156.60 and $1,183.70 per note); if the Underlier declines more than 15%, the payoff formula can produce losses up to the full principal. The estimated value on the Trade Date is approximately $980.70 per note. The offering includes a dealer concession of $10.70 per note and involves issuer credit risk, limited liquidity, no interest or dividends, no listing, and uncertain U.S. federal tax treatment.
Morgan Stanley Finance LLC is offering structured, principal-at-risk notes due July 9, 2027 that are fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and pays a fixed $75 upside payment if the worst performing underlier finishes at or above its 75% buffer level. If the worst performing underlier finishes below its buffer level, losses apply at a 1.3333% downside factor for each 1% decline beyond the 25% buffer, and there is no minimum payment at maturity. The securities reference the Dow Jones Industrial Average, the S&P 500 Equal Weight Index and the S&P 500 Index, and their value is based solely on the worst performing underlier. All payments remain subject to issuer and guarantor credit risk. The estimated value on the pricing date was approximately $990.30 per security.
Morgan Stanley Finance LLC offers fixed‑coupon, principal‑at‑risk securities due July 31, 2031, fully guaranteed by Morgan Stanley. The notes pay a 7.50% annual fixed coupon, have a stated principal amount of $1,000 per security and an automatic early redemption feature tied to the underlier.
If not called, maturity payoff depends on the S&P® 500 Futures 40% Intraday 4% Decrement VT Index: investors receive principal at maturity only if the final level is at or above the buffer level (the buffer is 15% of the initial level); if the final level is below the buffer, principal is reduced proportionally subject to a 15% minimum payment at maturity. The document states an estimated value on the pricing date of approximately $926.20 per security.
Morgan Stanley Finance LLC is offering structured, principal‑at‑risk notes fully guaranteed by Morgan Stanley that pay a contingent coupon and feature an automatic early‑redemption mechanism and a 15% buffer at maturity. Each security has a stated principal amount of $1,000, an original issue price of $1,000, and an estimated value on the pricing date of approximately $921.50.
The notes reference the S&P® 500 Futures 40% Intraday 4% Decrement VT Index. A contingent coupon at an annual rate of 16.50% may be paid on observation dates only if the underlier’s closing level is at or above the coupon barrier (75% of the initial level). If not automatically redeemed, maturity payout protects the first 15% of loss but exposes investors to a 1% principal loss for each 1% decline beyond the buffer, subject to a 15% minimum payment at maturity. All payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is offering structured, principal-at-risk notes due September 28, 2027, fully guaranteed by Morgan Stanley, linked to the worst performing of the Nasdaq-100® and S&P 500® indices. Each security has a $1,000 stated principal amount and an estimated value on the pricing date of approximately $982.80. The notes pay no interest and at maturity provide one of three outcomes based on the worst performing underlier on the observation date: (1) upside payment if the final level is above the initial level, (2) a capped positive payment if the final level is between the initial level and the 90% buffer (absolute return participation of 150% but effectively limited to 15% positive return), or (3) principal loss pro rata beyond the 10% buffer, subject to a 10% minimum payment at maturity. Strike and pricing dates are June 23, 2026 with original issue date June 26, 2026. All payments are subject to issuer and guarantor credit risk; tax treatment is uncertain and discussed in the tax supplement.
Morgan Stanley Finance LLC is offering Principal at Risk Structured Investments — dual‑underlier, buffered participation securities linked to the worst performing of the Nasdaq‑100 and the S&P 500, with maturity on July 28, 2027. The securities have a $1,000 stated principal amount, an estimated value on the pricing date of approximately $983.10, an upside cap of $1,165 (116.50% of principal), a 15% buffer and a minimum payment at maturity of 15% of principal.
The payout at maturity is determined solely by the worst performing underlier on the observation date (July 23, 2027): investors may receive up to the capped upside, a limited positive return if the worst underlier declines but stays within the 15% buffer, or losses beyond the buffer (1% loss of principal for each 1% decline beyond the buffer). All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering principal-at-risk, unsecured notes linked to shares of the iShares® Expanded Tech-Software Sector ETF with a $1,000 Face Amount per note. The notes pay no interest; maturity payment depends on the ETF's performance at a single Determination Date (expected 13–15 months after the Trade Date). If the Final Underlier Level is ≥90% of the Initial Underlier Level, holders receive a capped Maximum Settlement Amount expected to be between $1,189.80 and $1,222.70 per note. If the Final Underlier Level is <90% of the Initial Underlier Level, the Cash Settlement Amount declines pro rata and could result in a total loss of principal. Morgan Stanley guarantees the notes but credit risk remains; estimated value on the Trade Date is approximately $979.40 per note. Terms such as the Initial Underlier Level, Final Underlier Level, Determination Date and Stated Maturity Date will be set on the Trade Date.
Morgan Stanley Finance LLC is offering Principal at Risk PLUS securities due September 8, 2027 linked to a five‑index basket. The securities have a stated principal amount of $1,000 per security, a leverage factor of 300% on Upside performance and a maximum payment at maturity of $1,184 (118.40%).
Key dates: Strike/Pricing July 2, 2026, Original issue date July 8, 2026, observation date September 2, 2027. Payment at maturity depends solely on the closing basket level on the observation date; investors may lose up to their entire principal and bear Morgan Stanley credit risk. The estimated value on the pricing date is $966.80 per security.
Morgan Stanley Finance LLC is offering Principal at Risk auto-callable securities linked to ServiceNow, Inc. common stock with a stated principal amount of $1,000 per security. The notes pay a contingent coupon (annual rate 21.35%) only if observation-date levels meet the coupon barrier and may auto-redeem early if call thresholds are met. If not redeemed, repayment at maturity on July 1, 2027 depends on the final level versus a downside threshold (50% of the initial level); losses may equal the full decline in the underlier and could result in total loss of principal. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering structured, principal-at-risk notes due January 6, 2028 linked to the worst performing of the S&P 500, Russell 2000 and Nasdaq-100. Each security has a $1,000 stated principal amount and an original issue price of $1,000. The notes pay a 6.25% contingent coupon annually only if every underlier is at or above its coupon barrier on each observation date; they may auto-redeem on specified redemption dates if all underliers meet call thresholds. If a trigger event occurs (any underlier falls below its downside threshold during the term) and the final level of the worst performing underlier is below its initial level, investors suffer linear principal losses (1% loss for each 1% decline in the worst underlier). Estimated value on the pricing date is approximately $966.00 per security. All payments are subject to MSFL's credit risk and are unguaranteed by any government insurer.
Morgan Stanley Finance LLC priced a preliminary offering of structured Principal at Risk Securities due August 26, 2027 linked to the worst performing of the Nasdaq-100 and S&P 500 indices. Each security has a $1,000 stated principal amount and an estimated value on the pricing date of approximately $983.30. Payments at maturity depend solely on the worst performing underlier on the observation date (August 23, 2027): investors may receive the stated principal plus up to a 118.90% maximum upside ($1,189), a limited positive return when declines remain within a 15% buffer, or a loss of principal beyond that buffer (minimum payment 15% of principal). All payments are subject to issuer and guarantor credit risk and the securities pay no interest.
Morgan Stanley Finance LLC is offering Principal at Risk Buffered Jump Securities linked to the Nasdaq-100 Index with a $1,000 stated principal per security. The securities feature a 10% buffer, automatic early redemption opportunities with fixed early redemption payments (approximately 9.55% per annum on each early redemption date), and a maturity payment structure that can return the stated principal, a fixed positive amount, or a reduced principal if the final index level is below the buffer. The pricing and strike dates are June 30, 2026, original issue date is July 6, 2026, and maturity is July 3, 2031. The estimated value on the pricing date is approximately $958.20 per security; all payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley, and are subject to issuer credit risk.
Morgan Stanley Finance LLC is offering structured, principal-at-risk digital EURO STOXX® Banks Index-linked notes that are unsecured obligations of MSFL and fully and unconditionally guaranteed by Morgan Stanley. Each note has a Face Amount of $1,000 and will not pay interest. The Cash Settlement Amount at maturity depends on the Final Underlier Level of the EURO STOXX® Banks Index on a Determination Date expected to be 13 to 15 months after the Trade Date. If the Final Underlier Level is at least 90% of the Initial Underlier Level, holders receive a capped Maximum Settlement Amount expected to be between $1,152.70 and $1,179.10 per note. If the Final Underlier Level is below that threshold, repayment is reduced by a Buffer Rate of approximately 111.11%, and investors may lose some or all principal. The estimated value on the Trade Date is approximately $983.40 per note; the Original Issue Price is $1,000 and the agent’s commission is $10.80 per note. All payments are subject to issuer credit risk and the notes will not be listed on any exchange.
Morgan Stanley Finance LLC offers principal-at-risk, contingent income auto-callable notes linked to Marvell Technology, Inc. Each security has a stated principal amount of $1,000 and a contingent annual coupon of 43.00% payable only if the underlier meets the coupon barrier on observation dates. The notes can automatically redeem early if the underlier meets the call threshold on scheduled redemption determination dates. If not called, maturity payout is the stated principal if the final level is at or above the downside threshold (50% of the initial level); otherwise payment equals the stated principal multiplied by final/initial level, exposing investors to full downside and possible loss of principal. Estimated value on the pricing date was approximately $951.90 per security. All payments are subject to Morgan Stanley Finance LLC and Morgan Stanley credit risk.