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, through Morgan Stanley Finance LLC, is offering principal-at-risk Callable Contingent Income Securities due March 2, 2028, linked to the worst performing of the Nasdaq-100 Index, Russell 2000 Index and S&P 500 Index, with a stated principal amount of $1,000 per security.
The notes pay a contingent coupon at 8.45% per annum only if on each observation date all three indices close at or above 70% of their initial levels; otherwise no coupon is paid for that period, and investors could receive few or no coupons over the term. Starting December 3, 2026, the notes are callable in whole on specified redemption dates if a risk neutral valuation model indicates it is economically rational for Morgan Stanley to redeem, in which case investors receive principal plus any due coupon and no further payments.
If not redeemed and on the final observation date each index is at or above 65% of its initial level, investors receive principal plus any final coupon; if any index is below 65%, repayment is reduced in full proportion to the worst-performing index and can be zero. The estimated value on the pricing date is approximately $972.60 per $1,000, reflecting issuance and hedging costs. All payments depend on Morgan Stanley’s credit, and U.S. tax treatment is complex, with potential 30% withholding on coupons for many non-U.S. holders.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering $539,000 aggregate principal amount of unsecured Jump Notes with Auto-Callable Feature due August 24, 2033, based on the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index and fully and unconditionally guaranteed by Morgan Stanley.
Each note has a $1,000 stated principal amount and pays no interest. The notes may be automatically redeemed quarterly from August 19, 2027 if the index closing level is at or above the call threshold level of 1,343.46, returning principal plus a fixed early redemption payment that targets about 8.25% per annum (from $1,082.50 on the first call date up to $1,556.875 on the last).
If not called and the final index level on August 19, 2033 exceeds 1,343.46, investors receive principal plus 100% of the index’s positive return; otherwise they receive only principal. The notes are not listed, all payments depend on Morgan Stanley’s credit, and the estimated value on the pricing date is $929.90 per note, below the $1,000 issue price due to embedded costs.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering $1,296,000 of Trigger Step Securities linked to the least performing of the S&P 500 Index and the EURO STOXX 50 Index, maturing on August 22, 2031. Each Security has a $10 principal amount and pays no interest or dividends.
At maturity, if the final level of each index is at or above its Step Barrier (100% of its Initial Level), investors receive $10 plus the greater of a fixed Step Return of 77.25% or the index return of the least performing index. If at least one index is below its Step Barrier but both are at or above the Downside Threshold (75% of Initial Level), investors receive only the $10 principal. If either index finishes below its Downside Threshold, repayment is reduced in full proportion to the negative return of the least performing index, down to a total loss of principal.
The Securities are unsecured, unsubordinated obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley, and are subject to the issuer’s and guarantor’s credit risk. The issue price is $10 per Security, with an estimated value on the trade date of $9.906 per Security, and sales are made through UBS Financial Services Inc. to certain fee-based advisory accounts without a sales commission.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Contingent Income Memory Auto-Callable Securities due August 22, 2031, linked to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index, in an aggregate principal amount of $500,000 at $1,000 per security.
Investors may receive a 16.40% per annum contingent coupon, payable only if the underlier’s closing level on an observation date is at or above the coupon barrier of 2,451.337 (70% of the initial level of 3,501.91); missed coupons can be paid later if the barrier is met. The notes are automatically redeemed at par plus applicable coupons if, on any redemption determination date from February 19, 2027 onward, the underlier is at or above the call threshold of 3,501.91.
If not redeemed early and the final level is at or above the downside threshold of 2,101.146 (60% of initial), investors receive par plus any due coupons; if below, repayment is reduced in proportion to the underlier’s decline, potentially to zero. The estimated value on the pricing date is $953.80 per security, and all payments depend on Morgan Stanley’s credit and limited secondary market liquidity.
MORGAN STANLEY (through Morgan Stanley Finance LLC, fully guaranteed by Morgan Stanley) is offering Trigger PLUS notes due August 22, 2031 linked to the Invesco S&P 500® Equal Weight ETF. The notes are unsecured, pay no interest and expose investors to the issuer’s credit risk.
Each note has a stated principal of $1,000. If the ETF’s final level on the August 19, 2031 observation date is above the initial level of $222.07, investors receive principal plus a leveraged upside of 112.50% of the ETF’s gain. If the final level is between the initial level and the downside threshold of $177.656 (80% of initial), investors receive only principal. If the final level is below the downside threshold, repayment is principal multiplied by the performance factor (final/initial), with no minimum payment, so up to 100% of principal can be lost.
The aggregate principal amount is $480,000, issued at $1,000 per note. The estimated value on the pricing date is $955.40 per note, reflecting embedded costs and issuer funding levels. Sales commissions are $20 per note plus a $2 structuring fee, and dealers’ proceeds are $978 per note. Secondary market liquidity is not assured.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering Buffered Performance Leveraged Upside Securities (Buffered PLUS) due August 22, 2031, linked to the worst performer of the Nasdaq-100 Index and the S&P 500 Index, in an aggregate principal amount of $24,407,000 at $1,000 per security.
The notes pay no interest and are fully and unconditionally guaranteed by Morgan Stanley. At maturity, if the final level of each index is above its initial level, investors receive principal plus 116.25% of the gain of the worst-performing index. If the worst performer finishes between its initial level and its 75% buffer level, investors receive only principal. Below the 75% buffer, principal is reduced 1% for each 1% decline of the worst performer beyond the 25% buffer, subject to a minimum payment of 25% of principal.
The initial levels are 29,426.02 for the Nasdaq-100 and 7,707.98 for the S&P 500. The estimated value on the pricing date is $978.40 per security, reflecting issuance, structuring and hedging costs. Investors are exposed to principal loss, market volatility, limited liquidity, and the credit risk of Morgan Stanley and MSFL.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering callable fixed-income structured securities fully and unconditionally guaranteed by Morgan Stanley, linked to the worst-performing of the Nasdaq-100 Index, Russell 2000 Index and EURO STOXX 50 Index. Each security has a stated principal amount of $1,000 and pays a fixed monthly coupon at an annual rate of at least 13.25%, to be set on the pricing date.
The securities may be redeemed early, in whole, on specified redemption dates starting March 1, 2027, for principal plus the applicable coupon if a risk neutral valuation model indicates it is economically rational for the issuer to redeem. If not redeemed, principal repayment at maturity on February 29, 2028 depends on daily monitoring of each index versus its downside threshold level, set at 70% of its initial level. If no trigger event occurs, investors receive full principal at maturity plus the final coupon; if any index closes below its threshold on any trading day and the final level of any index is below its initial level, maturity payment is reduced 1% for every 1% decline of the worst-performing index and can fall to zero.
The estimated value on the pricing date is approximately $998.40 per $1,000 security. Investors do not participate in any index appreciation and are exposed to Morgan Stanley’s credit risk, potential illiquidity, model-driven call risk that may favor the issuer, and uncertain U.S. federal tax treatment.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering unsecured, unlisted Step-Up Jump Notes with an auto-callable feature, maturing on September 8, 2032, linked to the Morgan Stanley Amplitude Index. The notes pay no periodic interest and repay at least the $1,000 principal per note at maturity if the issuer and guarantor meet their obligations.
Starting with the first determination date on September 2, 2027, the notes are automatically redeemed if the index is at or above rising call thresholds (101%–105% of the initial level), for fixed early redemption payments stepping from $1,210 up to $2,050 per note. If not redeemed and the final index level exceeds the initial level, investors receive principal plus 100% of the index’s gain; otherwise they receive only principal.
The estimated value on the pricing date is approximately $925.70 per note, below the $1,000 issue price due to structuring and hedging costs. The underlier is a proprietary, rules-based multi-asset index with a 5% volatility target and embedded fees including a 0.65% per annum index fee (historically about 1.4% per annum total fees on a back-tested basis). U.S. tax treatment is as a contingent payment debt instrument, requiring annual interest accrual for tax purposes.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering market-linked, principal-at-risk structured notes linked to the worst-performing of Lam Research Corporation and Marvell Technology, Inc. common stocks, maturing on August 23, 2029 and fully and unconditionally guaranteed by Morgan Stanley.
Each security has a $1,000 face amount, with an offering size of $4,880,000. The notes are auto-callable on August 24, 2027: if the lowest-performing stock is at or above its call price (70% of its starting price), investors receive a fixed call payment of $1,400 per security (a 40% return), and the notes terminate with no further upside participation.
If not called, at maturity investors receive: (i) $1,000 plus 345% of the positive return of the lowest-performing stock if it finishes above its starting price; (ii) $1,000 if the lowest-performing stock finishes between its starting and threshold prices (50% of start); or (iii) full downside exposure to the lowest-performing stock if it finishes below its threshold, with losses beyond 50% of principal possible up to total loss. The initial prices are $307.17 for LRCX and $237.27 for MRVL, and the issuer’s estimated value is $964.80 per $1,000 note, reflecting embedded fees and hedging costs. The notes pay no interest or dividends, have limited liquidity, and all payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC, fully guaranteed by MORGAN STANLEY (MS), is offering $539,000 of Contingent Income Auto-Callable Securities due February 25, 2028, linked to the worst performing of the Nasdaq-100® Technology Sector Index, Russell 2000® Index and S&P 500® Index.
The notes pay a contingent coupon at 8.55% per annum, only if on each observation date all three indices are at or above their coupon barrier levels set at 70% of initial levels; otherwise no coupon is paid. The notes may be automatically called on scheduled dates if all indices are at or above 100% of initial levels, returning principal plus the applicable coupon.
If not called and any index finishes below its 70% downside threshold level, principal is reduced 1% for each 1% decline of the worst performer, with losses up to 100%. The issue price is $1,000 per note, while the issuer’s estimated value on the pricing date is $970.60, reflecting embedded costs and credit and market risks.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (MS), via Morgan Stanley Finance LLC, is offering $1,000,000 of Digital S&P 500® Index-Linked Notes due July 3, 2030 under its medium‑term note program, fully and unconditionally guaranteed by Morgan Stanley. The notes are unsecured, pay no interest and place principal at risk.
At maturity, investors receive for each $1,000 note either a fixed cash amount or a loss-linked amount based on the S&P 500® Index. If the final index level on the July 1, 2030 determination date is at least 90% of the initial level of 7,707.98, the holder receives the Maximum Settlement Amount of $1,367.50 (136.75% of face). If the index has fallen more than 10%, the payoff is $1,000 plus $1,000 times the index return, exposing investors to the full downside and potentially a total loss.
The Threshold Level is 6,937.182 (90% of the initial level). The estimated value on the trade date is $957.40 per note, below the $1,000 issue price because it includes issuance, structuring and hedging costs and uses an internal funding rate. Notes are sold at $1,000 with a selling concession of 3.09%, will not be listed, and secondary liquidity depends on market-making by an affiliate, which may or may not be available.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Jump Securities with an auto-call feature maturing on August 31, 2028, linked to the worst performer of the Russell 1000® Growth Index and the Russell 1000® Value Index. Each security has a $1,000 stated principal amount and an estimated value on the pricing date of approximately $977.40, reflecting issuance, structuring and hedging costs borne by investors.
The notes may be automatically redeemed on September 7, 2027 for $1,170 per security if on the first determination date each index is at or above 100% of its initial level. If not called, at maturity investors receive $1,000 plus a contingent upside payment equal to 150% of the gain of the worst-performing index if both are above initial levels, only $1,000 if both remain at or above 80% of initial levels, and otherwise a loss matching the percentage decline of the worst performer, potentially down to zero. All payments are unsecured obligations of Morgan Stanley Finance LLC, fully and unconditionally guaranteed by Morgan Stanley, and are subject to the credit risk of both entities.
MORGAN STANLEY (MS), via Morgan Stanley Finance LLC, is offering Trigger PLUS structured notes linked to the S&P 500® Index, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount, pays no interest, and matures on August 29, 2031, with principal at risk.
At maturity, if the S&P 500 final level is above the initial level, holders receive $1,000 plus a leveraged upside payment equal to 110% of the index’s percentage gain. If the final level is at or below the initial level but at or above the 75% downside threshold, investors receive only $1,000. If the final level is below the downside threshold, repayment is reduced 1% for each 1% decline in the index, with no minimum, so the payment can fall to zero.
The estimated value on the pricing date is approximately $983.50 per security, reflecting issuing, selling, structuring and hedging costs borne by investors. All payments depend on the credit of Morgan Stanley Finance LLC and Morgan Stanley, and secondary market liquidity and pricing are expected to be limited and potentially below the issue price.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering Enhanced Trigger Jump Securities due September 8, 2031 linked to the S&P 500® Index. Each unsecured, principal-at-risk note has a $1,000 stated principal amount, pays no interest and is fully and unconditionally guaranteed by Morgan Stanley.
At maturity, if the S&P 500® final level is at or above the downside threshold of 80% of the initial level, investors receive $1,000 plus the greater of a fixed $200 upside payment (20%) or $1,000 multiplied by the index percent change, subject to a maximum payment of $1,953 per security (195.30%). If the final level is below the downside threshold, repayment is $1,000 times the performance factor (final/initial), implying a 1% loss of principal for each 1% index decline, with no minimum payment and potential total loss of principal.
The issue price is $1,000 per security, including a fixed sales commission of $30 (3%) to dealers, for net proceeds of $970 per note to the issuer. The estimated value on the pricing date is approximately $958.30 per security. All payments depend on Morgan Stanley’s credit; the notes are not bank deposits and are not FDIC insured.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering unsecured, auto-callable structured notes (“Jump Notes”) due August 30, 2029, linked to the worst performer of Alphabet Class A, Apple, and Microsoft common stocks. Each note has a $1,000 stated principal amount and pays no interest.
The notes are automatically redeemed on September 1, 2027 for $1,135 per note if, on August 27, 2027, each underlier’s closing level is at or above its initial level. If not called, at maturity investors receive $1,000 plus an upside payment equal to 125% of the percentage gain of the worst-performing underlier, but only if all final levels exceed initial levels; otherwise, only principal is repaid.
The notes are fully and unconditionally guaranteed by Morgan Stanley, but all payments are subject to its credit risk. They will not be listed, and the estimated value on the pricing date is approximately $960.20 per note, reflecting issuance, selling, structuring and hedging costs that reduce economic terms and likely secondary-market prices.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering EURO STOXX 50®-linked Enhanced Trigger Jump Securities maturing on September 8, 2031. Each security has a $1,000 stated principal amount and issue price, with an estimated value on the pricing date of approximately $961.50 per security.
The notes pay no interest and do not guarantee any principal. At maturity, if the EURO STOXX 50® final level is at or above 75% of its initial level, investors receive $1,000 plus the greater of the index-based gain or a fixed upside payment of $403 per security (40.30% of principal). If the final level is below 75% of the initial level, repayment is linear to index performance (final level ÷ initial level), so losses match the full percentage decline and the payment can be zero.
The securities are unsecured obligations of Morgan Stanley Finance LLC, fully and unconditionally guaranteed by Morgan Stanley, and all payments are subject to Morgan Stanley’s credit risk. A fixed sales commission of $30 per security is paid to dealers, leaving issuer proceeds of $970 per security before hedging and other costs. Secondary market liquidity is not assured and U.S. tax treatment is described as uncertain prepaid financial contracts.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Jump Securities with an auto-call feature linked to the worst performer of Apple, Amazon.com and Alphabet Class A common stocks, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal and issue price, with an estimated value of approximately $949.70 on the pricing date.
The notes may be automatically redeemed on September 17, 2027 for $1,635 per security if, on the September 14, 2027 determination date, each underlier is at or above 100% of its initial level. If held to the September 7, 2029 maturity, investors receive principal plus a 200% participation in the gain of the worst performer if all final levels exceed initial levels; only principal back if all remain at or above 60% downside thresholds; and a linear loss to zero based on the worst performer if any finishes below its 60% downside threshold. The securities pay no interest, expose holders to full downside of the worst stock, are unsecured obligations subject to Morgan Stanley’s credit risk, and involve complex tax and liquidity considerations.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Contingent Income Memory Auto-Callable Securities linked to the Class A common stock of an underlying investment manager and fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount, a term to August 30, 2029 and an estimated value on the pricing date of approximately $983.30 per security, reflecting issuance, structuring and hedging costs.
The securities pay a contingent coupon at 14.15% per annum, only if the underlying stock’s closing level is at or above a coupon barrier set at 50% of the initial level on the relevant observation date; missed coupons can be paid later if conditions are met. They are automatically redeemed if, on specified determination dates starting February 25, 2027, the underlying closes at or above 100% of the initial level, returning principal plus applicable coupons. If held to maturity without early redemption, investors receive principal only if the final level is at or above a downside threshold of 50% of the initial level; otherwise, repayment is reduced one-for-one with the underlying’s decline and can be zero. All payments depend on Morgan Stanley’s creditworthiness.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Callable Contingent Income Securities due August 31, 2029, linked to the worst performing of the Dow Jones Industrial Average, Nasdaq-100® Technology Sector Index and Russell 2000® Index. Each security has a $1,000 stated principal amount and pays a 10.50% per annum contingent coupon only if on each observation date every index is at or above its coupon barrier, set at 75% of its initial level. If any index is below its barrier on an observation date, no coupon is paid for that period.
Starting March 3, 2027, the notes are callable in whole at par plus any due coupon, but only if a specified risk neutral valuation model indicates early redemption is economically rational for the issuer. If not called, and at maturity every index is at or above its downside threshold of 65% of its initial level, investors receive full principal plus any final coupon. If any index finishes below its downside threshold, repayment is reduced 1% for each 1% decline in the worst performer, potentially to zero. The estimated value on the pricing date is approximately $954.30 per $1,000 security, reflecting issuance, selling, structuring and hedging costs. All payments are subject to the credit risk of Morgan Stanley Finance LLC and the Morgan Stanley guarantee.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering Callable Contingent Income Memory Buffered Securities due August 24, 2029, linked to the worst performing of three ETFs: iShares Russell 2000 (IWM), iShares MSCI Emerging Markets (EEM) and State Street Materials Select Sector SPDR (XLB). Each note has a $1,000 stated principal amount and pays a 9.60% per annum contingent coupon only if, on an observation date, every underlier is at or above its coupon barrier level, set at 80% of its initial level.
The notes are callable in whole, but not in part, on specified redemption dates from August 30, 2027 onward, if a risk neutral valuation model indicates that early redemption is economically rational for Morgan Stanley; if called, investors receive principal plus the current and any previously unpaid contingent coupons. If held to maturity and every underlier’s final level is at or above its 80% buffer level, investors receive full principal plus any due coupons; otherwise, they lose 1% of principal for each 1% decline in the worst underlier beyond the 20% buffer, subject to a minimum payment of 20% of principal.
The securities are unsecured obligations of Morgan Stanley Finance LLC, fully and unconditionally guaranteed by Morgan Stanley, and all payments depend on Morgan Stanley’s credit. The estimated value on the pricing date is approximately $978 per $1,000 note, reflecting issuance, structuring and hedging costs borne by investors.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Callable Contingent Income Securities due September 7, 2029 linked to the worst-performing of the Nasdaq-100® Technology Sector Index℠, the Russell 2000® Index and the S&P 500® Index, in $1,000 denominations and fully and unconditionally guaranteed by Morgan Stanley.
The notes pay a contingent coupon at 11.00% per annum, but only if on each observation date the closing level of every index is at or above its coupon barrier, set at 70% of the initial level for each index; otherwise no coupon is paid for that period. If not previously redeemed, at maturity investors receive principal only if the final level of each index is at or above its downside threshold, set at 60% of the initial level; otherwise, repayment is reduced 1% for each 1% decline of the worst-performing index and can be zero.
Beginning June 9, 2027, the issuer may redeem the notes in whole on scheduled redemption dates for principal plus any due coupon, but only if a specified risk neutral valuation model indicates it is economically rational for Morgan Stanley to do so. The estimated value on the pricing date is approximately $976.80 per $1,000 note, reflecting issuing, selling, structuring and hedging costs and the issuer’s funding rate. All payments are subject to Morgan Stanley’s credit risk.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering Buffered PLUS structured notes due September 8, 2031, linked to the S&P 500® Futures Excess Return Index. Each note has a $1,000 stated principal amount, pays no interest and is fully and unconditionally guaranteed by Morgan Stanley.
At maturity, if the index is above its initial level, holders receive principal plus 206% of the index gain. If the index is between the initial level and the 80% buffer level, holders receive only principal. Below the buffer, principal is reduced 1% for each 1% additional decline, subject to a 20% minimum payment of principal.
The estimated value on the pricing date is approximately $972.60 per note, below the issue price, reflecting issuing, selling, structuring and hedging costs. The notes are unsecured obligations subject to Morgan Stanley’s credit risk, may have limited or no secondary market liquidity, and carry complex U.S. tax and Section 871(m) considerations.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Contingent Income Memory Auto-Callable Securities maturing on September 27, 2030, linked to the worst performer of the EURO STOXX 50®, Russell 2000® and S&P 500® indices. Each security has a $1,000 stated principal amount and issue price.
Investors may receive a contingent coupon of $37.50 per interest period, but only when the closing level of each index is at or above its coupon barrier level (70% of its initial level); missed coupons can be paid later if conditions are met. The notes are automatically called if, on specified dates, all indices are at or above their call threshold (100% of initial), paying principal plus current and any unpaid coupons.
If not called, and at maturity any index is below its downside threshold (55% of initial), the payoff is reduced 1% for every 1% decline in the worst-performing index, down to a possible zero return of principal. The estimated value on the pricing date is about $967.50 per $1,000, reflecting issuance, structuring and hedging costs. All payments depend on Morgan Stanley’s credit, secondary market liquidity may be limited, and U.S. tax treatment is complex and uncertain, including potential withholding for non-U.S. holders.
Morgan Stanley, through Morgan Stanley Finance LLC, is offering principal-at-risk Jump Securities with an auto-callable feature linked to the worst performing of three equity futures excess return indices: the Dow Jones Industrial Average Futures Excess Return Index, the Russell 2000 Futures Excess Return Index and the S&P 500 Futures Excess Return Index. Each security has a $1,000 stated principal amount, prices at $1,000 per security, and is scheduled to mature on August 26, 2036, subject to automatic early redemption.
The notes will be automatically redeemed on September 3, 2027 for an early redemption payment of $1,220 per security if, on the first determination date of August 31, 2027, each underlier’s closing level is at least 100% of its initial level. If not called, at maturity investors receive: principal plus an upside payment if every underlier ends above its initial level, with a 570% participation rate in the gain of the worst performer; principal only if any underlier is at or below its initial level but all remain at or above 60% of their initial levels; or a loss of 1% of principal for each 1% decline of the worst performer if any underlier finishes below its downside threshold, which can reduce the payment to zero.
The estimated value on the pricing date is approximately $902.30 per security, below the issue price because it excludes selling, structuring and hedging costs borne by investors. The notes pay no interest, are unsecured obligations of Morgan Stanley Finance LLC fully and unconditionally guaranteed by Morgan Stanley, are subject to the issuers’ credit risk, may have limited or no secondary market liquidity, and involve complex U.S. federal income tax considerations.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Trigger Participation Securities linked to the S&P 500® Index, maturing on August 23, 2030. The notes pay no interest and are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley.
At maturity, investors receive $1,000 plus 100% of any positive index return if the final level exceeds the initial level of 7,641.16. If the final level is at or below the initial level but at or above the downside threshold of 5,348.812 (70% of the initial level), investors receive only the $1,000 principal. If the final level is below the downside threshold, repayment is $1,000 multiplied by the performance factor (final level / initial level), with losses matching the full index decline; the payout can be reduced to zero.
The estimated value on the pricing date is approximately $979.50 per $1,000 security, reflecting issuing, selling, structuring and hedging costs. All payments are subject to Morgan Stanley’s credit risk, the securities are not bank deposits or FDIC-insured, secondary market liquidity may be limited, and U.S. tax treatment is complex and uncertain.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Contingent Income Auto-Callable Securities due September 2, 2031, linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index, at $1,000 stated principal amount per security.
Investors may receive a contingent coupon of 18.70% per annum, paid only if on each observation date the index closes at or above 70% of its initial level. The notes auto-call, paying principal plus coupon, if on any redemption determination date the index is at or above 100% of its initial level.
If held to maturity without prior redemption and the final index level is at or above 60% of the initial level, investors receive principal (plus any last coupon if conditions are met). If the final level is below 60%, repayment is reduced 1% for each 1% decline in the index, and the maturity payment can be zero. The estimated value on the pricing date is approximately $935.60 per security, below the issue price, reflecting structuring and hedging costs. The securities are unsecured obligations of MSFL, guaranteed by Morgan Stanley, subject to their credit risk, with limited liquidity and complex tax treatment.
MORGAN STANLEY (MS), via Morgan Stanley Finance LLC, is offering principal-at-risk Contingent Income Auto-Callable Securities due July 31, 2028, linked to the worst performer of the Nasdaq-100® Technology Sector Index and the Russell 2000® Index, at $1,000 per security and fully guaranteed by Morgan Stanley.
Investors may receive a 9.00% per annum contingent coupon, paid only if on each observation date both indices are at or above their coupon barrier levels set at 70% of initial levels. The notes are automatically redeemed on specified dates if both indices are at or above 100% of initial levels, paying principal plus the applicable coupon.
If not called, and at maturity either index is below its 70% downside threshold, repayment is reduced 1% for each 1% decline of the worst-performing index, potentially to $0. The estimated value on the pricing date is approximately $970.10 per security, and all payments are subject to Morgan Stanley’s credit risk and complex U.S. tax treatment.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk structured notes linked to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index, maturing on September 3, 2032. Each security has a stated principal amount and issue price of $1,000 and is fully and unconditionally guaranteed by Morgan Stanley.
Investors may receive a contingent coupon at 17.00% per annum, paid only if on the relevant observation date the index level is at or above a coupon barrier set at 70% of the initial level; unpaid coupons can be paid later if the barrier is subsequently met. The notes are auto-callable on scheduled redemption determination dates if the index is at or above a call threshold set at 100% of the initial level, in which case investors receive principal plus the applicable coupon and any previously unpaid coupons, and the notes terminate.
If not redeemed early, at maturity investors receive principal back only if the final index level is at or above a downside threshold of 60% of the initial level; otherwise, repayment is reduced 1% for each 1% index decline, and the payment can be zero. The estimated value on the pricing date is approximately $957.90 per security, reflecting issuance, selling, structuring and hedging costs. Payments depend on Morgan Stanley’s credit, and there may be limited or no secondary market.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
Morgan Stanley (MS), via Morgan Stanley Finance LLC, is offering auto-callable structured Jump Notes due August 23, 2033 linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index, in an aggregate principal amount of $1,385,000 at $1,000 per note. The notes pay no interest and return at least principal at maturity, subject to Morgan Stanley’s credit risk.
The notes are automatically redeemed if on any determination date the index closes at or above the call threshold level of 1,339.513 (101% of the initial level 1,326.25), triggering fixed early redemption payments that step up from $1,105 in 2027 to $1,630 in 2032. If not called and the final index level exceeds the initial level, investors receive principal plus 100% of index appreciation; otherwise only principal is repaid at maturity.
The estimated value on the pricing date is $924.80 per note, below issue price due to embedded costs. The notes are unsecured, not listed, may have limited liquidity, and are treated as contingent payment debt instruments for U.S. tax purposes, with a comparable yield of 5.3217% per annum.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering market-linked, auto-callable principal-at-risk securities due August 22, 2030, linked to the lowest performing of the S&P 500® Index and the Dow Jones Industrial Average. Each security has a $1,000 face amount, with an aggregate face amount of $610,000. The current estimated value on the pricing date is $959.80 per security, below the issue price because it embeds issuing, selling, structuring and hedging costs.
The notes can be automatically called quarterly starting August 23, 2027 if both indices are at or above their starting levels (7,691.76 for the S&P 500 and 53,343.40 for the Dow). Call payments range from $1,082.50 (8.25%) on the first calculation day up to $1,330.00 (33.00%) if called on the final calculation day; investors do not participate in additional index appreciation. If never called, principal is protected only down to 80% of each starting level; below that threshold the maturity payment is $1,000 times the performance factor of the lowest-performing index, so losses can exceed 20% and reach 100%. The securities pay no interest or dividends, are unsecured obligations of MSFL fully and unconditionally guaranteed by Morgan Stanley, and all payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley (MS), as guarantor for Morgan Stanley Finance LLC, is offering Contingent Income Memory Auto-Callable Securities due September 8, 2031 linked to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index. These unsecured notes are principal-at-risk and issued in $1,000 denominations, with an original issue price of $1,000 and an estimated value on the pricing date of about $947 per security.
Investors may receive a 16.00% per annum contingent coupon, payable only if on each observation date the index level is at or above a coupon barrier set at 70% of the initial level; missed coupons can be paid later if the barrier is met. The notes are auto-callable from June 3, 2027 if the index is at or above the call threshold, set at 100% of the initial level, returning principal plus the applicable coupon and any unpaid coupons.
If not called, at maturity investors receive full principal only if the final index level is at or above the downside threshold of 60% of the initial level; below that, the payoff is proportional to index performance and can be zero. All payments depend on Morgan Stanley’s credit, and there may be little or no secondary market. The underlier is a leveraged, volatility-targeting futures-based index with a 4.0% per annum daily decrement and limited live history.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Dual Directional Buffered Jump Securities with an auto-call feature linked to the Russell 2000® Index, maturing on September 8, 2028. Each security has a stated principal amount and issue price of $1,000 and pays no interest.
The notes may be automatically redeemed on September 13, 2027 for $1,070 per security if the Russell 2000® closing level on the first determination date is at or above the initial level. If not called, maturity payment depends on index performance: gains above the initial level provide 100% upside participation but are capped at $1,180 per security (118% of principal). If the index ends between 80% and 100% of its initial level, investors receive a positive “absolute return” up to a 20% gain; below 80%, principal is reduced 1% for each 1% decline beyond the 20% buffer, but not below 20% of principal.
The securities are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley, with all payments subject to Morgan Stanley’s credit risk. The estimated value on the pricing date is about $966.60 per security, below the $1,000 issue price due to embedded costs. The notes are not bank deposits, are not FDIC insured, have limited or no secondary market liquidity, and carry complex U.S. tax treatment described as prepaid financial contracts, with Section 871(m) dividend-equivalent withholding generally expected not to apply to Non-U.S. Holders.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering Structured Investments Buffered PLUS linked to the S&P 500® Index, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount, with an aggregate principal amount of $1,599,000, and pays no interest.
At maturity on September 23, 2027, if the S&P 500 final level is above the initial level of 7,691.76, investors receive principal plus 110% of the index gain, capped at a maximum payment of $1,148.20 per security (114.82% of principal). If the index is between the initial level and the buffer level of 6,922.584 (90% of the initial level), investors receive only principal. Below the buffer, investors lose 1% of principal for each 1% further decline, subject to a minimum payment of 10% of principal.
The estimated value on the pricing date is $991.40 per security, reflecting issuing, selling, structuring and hedging costs. The notes are unsecured obligations of MSFL, subject to Morgan Stanley’s guarantee and credit risk, may have limited or no secondary market liquidity, and are not bank deposits or FDIC insured.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering Enhanced Buffered Jump Securities linked to the S&P 500® Index, maturing on December 3, 2027, with a stated principal amount of $1,000 per security. The notes pay no interest. At maturity, if the S&P 500 final value is at or above 85% of the initial index value (the downside threshold), investors receive $1,000 plus a fixed upside payment of $78.50, a total return of 7.85%. If the index finishes below 85% of the initial level, principal is reduced based on the index decline beyond a 15% buffer, multiplied by a downside factor of 1.1765, with no minimum payment; the investment can go to zero. The estimated value on the pricing date is approximately $972 per security, below the $1,000 issue price, reflecting embedded costs and Morgan Stanley’s pricing.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering Callable Contingent Income Buffered Securities due August 31, 2028, linked to the worst performer of the Nasdaq‑100 Technology Sector Index, the Russell 2000 Index and the State Street Utilities Select Sector SPDR ETF. These are unsecured, principal-at-risk notes fully and unconditionally guaranteed by Morgan Stanley.
Investors receive a contingent coupon at 9.85% per annum only if on each observation date the closing level of every underlier is at or above its coupon barrier (70% of initial level). The issuer may redeem the notes early on specified redemption dates if a risk‑neutral valuation model indicates it is economically rational for Morgan Stanley, paying principal plus any due coupon; no further payments occur thereafter.
If not redeemed early, at maturity investors receive principal back only if each underlier’s final level is at or above its buffer level (80% of initial). If any underlier is below its buffer, the payoff is reduced 1% for each 1% decline of the worst performer beyond the 20% buffer, subject to a minimum payment of 20% of principal. The estimated value on the pricing date is about $985.40 per $1,000, and all payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering Buffered Performance Leveraged Upside Securities (Buffered PLUS) due September 30, 2027, linked to the worst performance of the Russell 2000 Index and the S&P 500 Index. Each note has a stated principal amount and issue price of $1,000 and is fully and unconditionally guaranteed by Morgan Stanley.
These principal-at-risk notes pay no interest. At maturity, if both indices finish above their initial levels, investors receive principal plus a leveraged upside payment based on a 120% leverage factor applied to the worst-performing index. If either index finishes at or below its initial level but both remain at or above a 90% buffer level, investors receive only their principal. If either index falls below its buffer level, investors lose 1% of principal for each 1% decline of the worst-performing index beyond the 10% buffer, subject to a minimum payment at maturity of 10% of principal.
The estimated value on the pricing date is approximately $987 per $1,000 note, reflecting issuance, structuring and hedging costs borne by investors. The notes are unsecured obligations of Morgan Stanley Finance LLC, guaranteed by Morgan Stanley, and all payments depend on Morgan Stanley’s credit. Secondary market liquidity may be limited and prices may be significantly below the issue price.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Dual Directional Jump Securities with an auto-call feature linked to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index. Each note has a $1,000 stated principal and issue price and pays no interest.
Beginning August 25, 2027, the notes are automatically redeemed if the index closes at or above 100% of its initial level on a determination date, for a fixed early redemption payment that implies roughly 20.75% per annum, increasing over time, up to $2,020.208 per note. If held to maturity on August 26, 2031 and the final level is at or above the call threshold, investors receive $2,037.50.
If the final level is between 50% and 100% of the initial level, investors receive $1,000 plus the absolute underlier return with a 100% participation rate, capped at a 50% gain. If the final level is below 50% of the initial level, repayment is reduced 1% for each 1% decline, and the payment can be zero. The estimated value on the pricing date is about $923.60 per note, reflecting issuance, structuring and hedging costs. All payments are subject to Morgan Stanley’s and MSFL’s credit risk, and the underlier embeds a 4% per annum decrement, leverage, and has limited live history.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Callable Contingent Income Securities due August 30, 2029, linked to the worst performer of the Invesco S&P 500® Equal Weight ETF, the Nasdaq-100 Index® and the Russell 2000® Index, fully and unconditionally guaranteed by Morgan Stanley.
The notes pay a 10.00% per annum contingent coupon only if on each observation date all three underliers are at or above 70% of their initial levels; otherwise no coupon is paid. Starting March 3, 2027, the issuer may redeem the notes early if a risk neutral valuation model indicates it is economically rational for Morgan Stanley, paying principal plus any due coupon. If held to maturity and any underlier finishes below 55% of its initial level, investors lose 1% of principal for each 1% decline of the worst underlier, potentially losing their entire investment. The estimated value on the pricing date is about $982.10 per $1,000 note, and all payments are subject to Morgan Stanley’s credit risk.