Every 424B that Morgan Stanley (MS) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow MS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MS filings page.
Morgan Stanley Finance LLC is offering Principal at Risk securities—Buffered Jump Securities with an auto-call feature—due June 17, 2031, fully guaranteed by Morgan Stanley. The securities have a stated principal amount of $1,000 each, an issue price of $1,000, and aggregate principal of $4,182,000. The underlier is the S&P U.S. Equity Momentum 40% VT 4% Decrement Index with an initial level of 1,377.30 (strike date June 12, 2026).
Automatic early redemption begins on the first determination date June 15, 2027 if the underlier closes at or above the call threshold (1,239.57, 90% of the initial level), producing fixed early redemption payments that rise across 48 observation dates. At maturity, payments depend on the final level relative to the buffer level (1,170.705, 85% of the initial level) and include a 15% downside buffer and a 15% minimum payment at maturity.
Morgan Stanley Finance LLC is offering Principal at Risk structured notes with an aggregate principal amount of $562,000. Each security has a stated principal amount of $1,000 and an original issue price of $1,000 per security; the estimated value on the pricing date was $980.00 per security.
The notes are linked to the worst performing of the Nasdaq-100® Technology Sector, the Russell 2000® Index and the S&P 500® Index, feature an automatic early redemption schedule with the first determination date on June 15, 2027, and mature on June 15, 2029. Investors risk loss of principal if any underlier falls below its downside threshold (70% of its initial level) and will not participate in index appreciation beyond the fixed early redemption or maturity payments. All payments are subject to the credit risk of Morgan Stanley and MSFL.
Morgan Stanley Finance LLC is offering Principal at Risk structured notes due June 17, 2031, fully guaranteed by Morgan Stanley, with an aggregate principal amount of $12,398,000 and a stated principal amount of $1,000 per security. The issue price is $1,000 and the estimated value on the pricing date was $910.80. The notes reference the S&P U.S. Equity Momentum 40% VT 4% Decrement Index with an initial and call threshold level of 1,377.30 and a buffer of 15% (buffer level 1,170.705). If the underlier meets or exceeds the call threshold on a determination date beginning June 15, 2027, the notes auto-redeem for fixed early redemption payments that imply approximately 18.00% per annum. If not redeemed, maturity payments depend on the final level: a fixed positive payment of $1,900 if at or above the call threshold, the stated principal if between the buffer and threshold, or a reduced payment that losses 1% per 1% decline beyond the buffer, subject to a minimum payment of 15% of principal. All payments are subject to Morgan Stanley's credit risk.
The Pricing Supplement describes a $5,000,000 offering of Principal at Risk NOTES ("PLUS") issued by Morgan Stanley Finance LLC and fully guaranteed by Morgan Stanley. Each note has a $1,000 stated principal amount and matures on June 17, 2031. Payment at maturity depends solely on the closing level of the S&P 500® Futures Excess Return Index on the observation date; investors receive the stated principal plus 244.85% of any appreciation, but incur a proportional loss of principal for any decline (1% loss for each 1% index decline). The initial issue price is $1,000 with an estimated value on the pricing date of $980.60. All payments are subject to the issuer’s and guarantor’s credit risk; there is no guaranteed return of principal and no periodic interest.
Morgan Stanley Finance LLC is offering principal-at-risk structured notes tied to the common stock of Micron Technology, Inc., with a stated principal of $1,000 per security and aggregate principal of $3,460,000. The securities pay no interest and return either the stated principal plus a fixed upside payment of $535.10 if the final level is at or above the downside threshold, or a cash amount equal to the stated principal multiplied by the performance factor (final level/initial level) if the final level is below the downside threshold. The initial level is $981.61 (strike date), the downside threshold is $490.805 (50% of the initial level), the observation date is December 13, 2027, and maturity is December 16, 2027. Estimated value on the pricing date was $913.90 per security; the issue price is $1,000 (agent commission $23.50 per security). All payments are subject to Morgan Stanley Finance LLC and Morgan Stanley credit risk.
Morgan Stanley Finance LLC priced a primary offering of contingent income memory auto-callable notes linked to the Class A common stock of CoreWeave, Inc., with an aggregate stated principal amount of $300,000 and a stated principal amount of $1,000 per security. The securities pay a contingent coupon at an annual rate of 28.75% on observation dates when the closing level of the underlier is at or above the coupon barrier level of $50.275 (50% of the initial level). The initial closing level on the strike date was $100.55, which also establishes the call threshold level. The securities can auto-redeem on recurring redemption determination dates; maturity is June 15, 2028 with a final observation date of June 12, 2028. The issue price is $1,000 per security, the estimated value on the pricing date was $941.90 per security, and agent commissions of $32.50 per security reduce proceeds to the issuer. Payment at maturity, if not auto‑redeemed, is either the stated principal (if final level ≥ downside threshold $50.275) or the stated principal multiplied by the performance factor (final level / initial level) which can result in significant principal loss.
Morgan Stanley Finance LLC offers Structured Investments — Buffered Jump Securities due June 17, 2031 — linked to the S&P 500® Index with a $1,000 stated principal per security and an aggregate offering of $776,000. The notes feature automatic early redemption on specified determination dates if the index closing level is at or above the call threshold level (initial level 7,431.46), fixed early redemption payments equivalent to approximately 7.40% per annum, a 10% downside buffer (buffer level 6,688.314), and a minimum payment at maturity of 10% of principal. If final level is below the buffer, holders lose 1% for each 1% decline beyond the buffer, subject to the minimum. Estimated value on pricing date was $962.20 per security; issue price is $1,000 with a $25 agent commission and proceeds to issuer of $975 per security. All payments are subject to issuer and guarantor credit risk; MSFL securities are guaranteed by Morgan Stanley.
Morgan Stanley Finance LLC offers Principal at Risk auto-callable notes linked to Alphabet Inc. class A common stock with a stated principal amount of $1,000 per security and an aggregate principal amount of $670,000. The securities pay a contingent coupon at an annual rate of 13.25% only when the underlier's closing level on each observation date is at or above the coupon barrier of $251.776 (70% of the initial level). The notes are automatically redeemed early if the closing level on a redemption determination date is at or above the call threshold of $359.68 (100% of the initial level), in which case holders receive principal plus the contingent coupon for that period. If the notes reach maturity without early redemption and the final level is below the downside threshold of $251.776, investors suffer a loss equal to the underlier's percentage decline and may lose most or all principal. 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 Principal at Risk structured notes due June 15, 2029, fully and unconditionally guaranteed by Morgan Stanley, linked to the worst performing common stock of The Home Depot, Intercontinental Exchange and Johnson & Johnson. The stated principal amount is $1,000 per security and the aggregate offering is $961,000. The securities have a first determination date for automatic early redemption on June 16, 2027 with a fixed early redemption payment of $1,640 per security. If not redeemed, payment at maturity depends on the worst performing underlier: investors may receive the stated principal plus an upside payment (participation rate 150%), the stated principal only, or a reduced payment that falls 1% for each 1% decline of the worst performing underlier; payments are subject to Morgan Stanley credit risk. The estimated value on the pricing date was $943.80 per security.
Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable securities linked to the common stock of Tesla, Inc. that mature on June 22, 2029 (pricing date June 18, 2026). Each security has a face amount of $1,000 and an estimated value on the pricing date of $966.10 (within $30.00). The securities pay contingent quarterly coupons (the contingent coupon rate will be set on the pricing date and will be at least 15.00% per annum) only if the stock closing price on a quarterly calculation day is at or above a coupon threshold equal to 60% of the starting price. The securities are auto-callable if the stock closing price on any non-final calculation day is at or above the starting price; if not called, maturity payout depends on the ending price relative to a downside threshold equal to 60% of the starting price, exposing holders to a 1:1 downside if the ending price is below that threshold. All payments are subject to issuer credit risk; the document emphasizes complex features and significant risks, including possible loss of more than 40% of principal at maturity.
Morgan Stanley Finance LLC priced $78,205,000 of Digital Basket‑Linked Notes due October 16, 2028, fully and unconditionally guaranteed by Morgan Stanley. The principal‑at‑risk notes pay no interest and return at maturity is linked to a weighted basket of five international equity indices with an Initial Basket Level of 100 and a Threshold Settlement Amount of $1,285.00 per $1,000 face amount. The trade date was June 12, 2026, the estimated value on the trade date was $973.30 per note, and the determination date for final payout is scheduled for October 12, 2028, with maturity on October 16, 2028. If the Final Basket Level is below 100, investors will bear the full percentage decline in the basket and could lose some or all principal; if the Final Basket Level is at or above 100, the payoff will be the greater of the Threshold Settlement Amount and participation in upside.
Morgan Stanley Finance LLC offers Structured Investments—Buffered Jump Securities due June 17, 2031—fully and unconditionally guaranteed by Morgan Stanley. The securities are principal‑at‑risk notes with a $1,000 stated principal amount and an aggregate principal amount of $1,160,000.
The notes feature an automatic early redemption if the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index closes at or above the call threshold (1,377.30) on any determination date after the first determination date (June 15, 2027). Early redemption payments increase per schedule (first payment $1,167.50), and a final payment of $1,837.50 applies if the final level is at or above the call threshold. If the final level is below the buffer level (1,101.84, 80% of initial level), investors bear losses 1% for each 1% decline beyond the buffer, subject to a minimum payment of 20% of principal.
Morgan Stanley Finance LLC priced a structured note: Contingent Income Memory Buffered Auto-Callable Securities due May 17, 2029, fully and unconditionally guaranteed by Morgan Stanley. The notes have a stated principal amount of $1,000 per security and aggregate principal of $573,000. They pay an 8.00% annual contingent coupon on coupon dates only if the closing level of each underlier meets or exceeds its coupon barrier on the related observation date, and they may be automatically redeemed early if both underliers meet their call thresholds on a redemption determination date. At maturity, if the final level of the worst performing underlier is below its buffer level (80% of initial), principal is reduced 1% for each 1% the worst performing underlier declines beyond the buffer, subject to a minimum 20% payment of principal.
Morgan Stanley Finance LLC is offering Principal at Risk structured notes fully and unconditionally guaranteed by Morgan Stanley with an aggregate principal amount of $680,000 and a stated principal amount of $1,000 per security. The notes pay no interest, have automatic early redemption on the first determination date and a maturity of June 15, 2029.
Key economics: an early redemption payment of $1,550 (if each underlier meets its call threshold on the first determination date), a 150% participation rate for upside at maturity, and downside exposure that causes investors to lose 1% of principal for each 1% decline in the worst performing underlier below 50% of its initial level. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering Principal at Risk, contingent income auto-callable securities linked to Intuitive Surgical, Inc. common stock with a stated principal amount of $1,000 per security and an aggregate principal amount of $1,269,000. The notes pay a contingent coupon at an annual rate of 10.75% on each coupon payment date only if the underlier equals or exceeds the coupon barrier level on the related observation date. The securities are automatically redeemed early if the closing level of the underlier is greater than or equal to the call threshold ($411.06) on any redemption determination date, in which case holders receive the stated principal plus the contingent coupon for that period. If not redeemed, at maturity holders receive principal only if the final level is greater than or equal to the downside threshold ($275.410, or 67% of the initial level); otherwise payment at maturity equals the stated principal multiplied by the performance factor (final level/initial level), exposing investors to potential loss of principal, possibly to zero. All payments are unsecured obligations of MSFL, fully guaranteed by Morgan Stanley, and subject to issuer credit risk. The estimated value on the pricing date was $966.70 per security and the issue price was $1,000 (agent commission of $15 per security).
Morgan Stanley Finance LLC is offering $4,345,000 in principal of Principal-at-Risk, contingent-income, auto-callable securities due June 15, 2029, fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal of $1,000 and an estimated value on the pricing date of $969.20.
The notes pay a contingent coupon at an annual rate of 13.00% on each coupon date only if the closing level of the underlier, Blackstone Inc. common stock, equals or exceeds the coupon barrier of $61.395 (50% of the initial level). The initial level and call threshold are $122.79. The securities are automatically redeemed if the underlier's closing level on any redemption determination date is greater than or equal to the call threshold; at maturity, if the final level is below the downside threshold ($61.395), payment equals the stated principal multiplied by the performance factor (final level / initial level), exposing investors to loss of principal, potentially to zero. All payments are subject to the issuer's and guarantor's credit risk.
Morgan Stanley Finance LLC is offering structured, principal-at-risk, contingent income auto-callable securities linked to the First Trust Nasdaq Cybersecurity ETF. The securities have a $1,000 stated principal amount, aggregate offering of $1,680,000, and an issue price of $1,000 per security.
The securities pay a contingent coupon at an annual rate of 9.00% only if the underlier’s closing level meets or exceeds the coupon barrier on observation dates. The initial level and call threshold are $85.33; the coupon barrier and downside threshold are $59.731 (70% of the initial level). Automatic early redemption may occur on listed redemption determination dates beginning September 14, 2026. If not redeemed, maturity is June 15, 2029; if the final level is below the downside threshold, investors lose pro rata principal (1% loss per 1% decline). All payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC priced contingent income auto-callable securities linked to the State Street SPDR S&P Regional Banking ETF with a stated principal amount of $1,000 per security. The securities pay a contingent coupon of 9.40% per annum on observation dates when the underlier is at or above the coupon barrier ($51.387, 70% of the initial level). Early automatic redemption occurs if the underlier is at or above the call threshold ($73.41, 100% of the initial level) on any redemption determination date, producing an early redemption payment of the stated principal plus the contingent coupon for that period. If not redeemed, maturity payoff is the principal if the final level is at or above the downside threshold ($51.387); otherwise payment at maturity equals the stated principal multiplied by the performance factor (final level / initial level), which may result in substantial principal loss, possibly to zero. All payments are subject to Morgan Stanley's credit risk. The estimated value on the pricing date was $972.20 and the issue price was $1,000 (agent commission $20, proceeds to issuer $980 per security).
Morgan Stanley Finance LLC is offering $420,000 aggregate principal of Structured Investments—Enhanced Trigger Jump Securities due July 15, 2027, fully and unconditionally guaranteed by Morgan Stanley. The securities have a stated principal amount of $1,000 per security and an issue price of $1,000 per security.
Payment at maturity depends solely on the worst performing of the Nasdaq-100, Russell 2000 and S&P 500 indices measured on the observation date. If the worst performing underlier is at or above its downside threshold (70% of its initial level), holders receive the stated principal plus an $112 upside payment (11.20%). If the worst performing underlier finishes below its downside threshold, holders suffer a loss equal to the full percentage decline of that underlier; there is no minimum payment and losses could be total. All payments are subject to issuer and guarantor credit risk.
The pricing supplement describes Principal at Risk Dual Directional Jump Securities issued by Morgan Stanley Finance LLC and unconditionally guaranteed by Morgan Stanley, linked to the common stock of Advanced Micro Devices, Inc. The securities have a $1,000 stated principal per security, aggregate principal of $1,350,000, an issue price of $1,000 and an estimated value on the pricing date of $948.00 per security. The notes can be automatically redeemed on the first determination date June 21, 2027 if the closing level of the underlier is at or above the call threshold ($511.57). If not auto‑redeemed, payment at maturity on June 15, 2029 depends on the final level versus the initial level ($511.57) and a downside threshold of $255.785 (50% of initial). Returns include a 150% upside participation rate and a capped positive return on depreciation (absolute participation 100%); severe declines below the downside threshold can produce principal loss down to zero. All payments are subject to issuer and guarantor credit risk and the estimated value reflects issuance, structuring and hedging costs.
Morgan Stanley Finance LLC is offering structured, market-linked notes due June 17, 2031 with an aggregate principal amount of $705,000. The notes are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley.
The notes reference the S&P 500® Futures Excess Return Index and pay no periodic interest. At maturity investors receive the stated principal amount plus an upside payment only if the final level exceeds the initial level; otherwise they receive the stated principal amount. The participation rate is 123.50% and the initial level (strike) is 596.69 (closing level on June 12, 2026). The issue price is $1,000 per note (estimated value on the pricing date: $948.70 per note) and selected dealers receive a fixed sales commission of $40 per note.
Morgan Stanley Finance LLC is offering principal-at-risk, contingent income auto-callable securities linked to the Class A common stock of Palantir Technologies Inc. The securities have a stated principal amount of $1,000 per security and aggregate principal amount of $1,725,000.
The notes pay a contingent coupon at an annual rate of 14.90% on each coupon date only if the closing level of the underlier is at or above the coupon barrier ($76.794, 60% of the initial level) on the related observation date. The securities are subject to automatic early redemption beginning with the first redemption determination date on September 14, 2026 if the closing level meets or exceeds the call threshold ($108.792, 85% of the initial level). The initial closing level (initial level) on the strike date was $127.99 (as of June 12, 2026). Maturity is June 15, 2028. Estimated value on the pricing date was $968.10 per security and the issue price was $1,000 per security (agent commission $25 per security). All payments are unsecured and subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC is offering Principal at Risk notes—Structured Investments Contingent Income Memory Auto-Callable Securities—linked to the worst performing of AppLovin (APP), Microsoft (MSFT) and Shopify (SHOP). The issue price is $1,000 per security with an aggregate principal amount of $708,000. The securities pay a contingent coupon of 21.90% per annum on observation dates only if each underlier is at or above its coupon barrier (60% of initial level).
The notes may be automatically redeemed on specified redemption determination dates beginning June 14, 2027 if each underlier is at or above its call threshold (100% of its initial level), delivering principal plus any payable contingent coupon. If not redeemed, maturity is June 13, 2029 with payoff tied to the worst performing underlier: full principal if downside thresholds (60% of initial) are met, or a pro rata loss of 1% per 1% decline in the worst underlier, potentially resulting in total principal loss. All payments are subject to Morgan Stanley's credit risk. The estimated value on the pricing date is $920.10 per security.
Morgan Stanley Finance LLC offers $4,573,710 of Trigger Autocallable Notes linked to the Russell 2000® Index, fully and unconditionally guaranteed by Morgan Stanley. The securities use a 9.50% per annum Call Return Rate, have an Initial Level of 2,943.992 and a Downside Threshold of 2,207.994 (75% of the Initial Level). The Issue Price is $10.00 per security (estimated value on the Trade Date: $9.629), with a minimum investment of $1,000. Trade Date is June 12, 2026, Settlement Date June 17, 2026, and Maturity Date June 16, 2031. Beginning after one year, the notes will be automatically called on quarterly Observation Dates if the Observation Date Closing Level is equal to or greater than the Initial Level; if called, holders receive the principal plus a fixed Call Return (examples of Call Prices range up to $14.75 on the Final Observation Date). If not called, holders receive principal at maturity only if the Final Level is at or above the Downside Threshold; otherwise holders suffer a loss proportionate to the full decline in the Underlying. All payments are subject to issuer credit risk and other risks described under "Key Risks."
Morgan Stanley Finance LLC is offering Principal at Risk Jump Securities linked to the Russell 2000® Index with a stated principal amount of $1,000 per security and an aggregate principal amount of $2,108,000. The securities pay no interest and risk loss of principal; they may be automatically redeemed on the first determination date (the first test is June 21, 2027) if the underlier closing level is at or above the call threshold of 2,943.992, in which case holders receive $1,125 per security. If not redeemed and the final level on the final determination date (subject to postponement) exceeds the initial level, holders receive principal plus an upside payment equal to the stated principal amount multiplied by a 150% participation rate of the index appreciation. If the final level falls below the downside threshold of 2,207.994, investors suffer proportional principal loss (payment could be zero). All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley and are subject to the issuer’s credit risk.
Morgan Stanley Finance LLC is offering principal-at-risk, fixed-coupon, buffered auto-callable securities due June 17, 2031, linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. Each security has a $1,000 stated principal amount, a 7.00% annual fixed coupon and a buffer equal to 15% of the initial index level. The securities pay monthly coupons, may be automatically redeemed early if the underlier meets the call threshold, and at maturity return principal only if the final level is at or above the buffer level; otherwise principal is reduced proportionately subject to a 15% minimum payment. All payments are unsecured and guaranteed by Morgan Stanley and are subject to the issuer’s credit risk.
Morgan Stanley Finance LLC is offering Structured Investments (Enhanced Trigger Jump Securities) due July 15, 2027, fully and unconditionally guaranteed by Morgan Stanley. The offering is for $1,000 per security with an aggregate principal amount of $5,150,000. Payment at maturity depends on the performance of the worst performing of the Russell 2000® and the S&P 500® indices on the observation date; if both underliers finish at or above their 70% downside thresholds, holders receive principal plus a fixed upside payment of $97.50 (9.75%). If the worst performing underlier finishes below its downside threshold, holders suffer a proportional loss of principal (1% loss for each 1% decline), with no minimum payment. All payments are subject to issuer and guarantor credit risk; the estimated value on the pricing date was $988.50 per security.
Morgan Stanley Finance LLC priced contingent income auto-callable notes due June 17, 2031 linked to the worst performing of Dell (class C), Tesla, Micron and Qualcomm. The notes are unsecured obligations of MSFL, unconditionally guaranteed by Morgan Stanley, issued at $1,000 per note with an aggregate principal amount of $1,300,000 and an estimated value on the pricing date of $936.00 per note.
The notes pay a monthly contingent coupon at an annual rate of 10.00% only if each underlier's closing level on an observation date is at or above its coupon barrier (80% of initial level). They feature automatic early redemption beginning with the first redemption determination date on June 14, 2027 if all underliers meet their 100% call thresholds on a determination date. If not redeemed, principal is repaid at maturity with any payable contingent coupon. All payments are subject to Morgan Stanley's credit risk and the notes will not be listed on an exchange.
Morgan Stanley Finance LLC priced an offering of Principal at Risk auto‑callable securities linked to Intuitive Surgical common stock with an aggregate principal amount of $100,000. The securities have a $1,000 stated principal amount per security, an estimated value on the pricing date of $981.20 per security and an original issue date of June 17, 2026. The notes pay a contingent coupon at an annual rate of 13.10% on each coupon payment date only if the closing level of the underlier meets or exceeds the coupon barrier of $275.410 (67% of the initial level) on the related observation date. The notes are automatically redeemed early if the underlier closes at or above the call threshold of $411.06 (100% of the initial level) on any redemption determination date; if not redeemed, maturity is July 15, 2027 and investors face full downside exposure below the downside threshold of $275.410, with principal loss proportional to the underlier's decline. 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 $650,000 in market-linked notes due June 15, 2029, fully guaranteed by Morgan Stanley, with a stated principal amount of $1,000 per note. The notes pay no interest and mature based on the S&P 500® Futures Excess Return Index performance measured on the observation date.
Key economics: estimated value on the pricing date $966.50 per note, participation rate 100%, maximum payment at maturity $1,331.50 per note, initial index level 596.69, and an observation date of June 12, 2029 (subject to postponement). Commissions are $20 per note, and net proceeds to the issuer are stated as $637,000 for this issuance.
Morgan Stanley Finance LLC is issuing contingent income auto-callable securities tied to CoreWeave, Inc. class A common stock. The offering has an aggregate principal amount of $31,620,000, with a stated principal amount of $1,000 per security and an issue price of $1,000 per security. The securities mature on June 15, 2029 and pay a contingent quarterly coupon at an annual rate of 30.00% only if the determination closing price on scheduled dates is at or above the downside threshold price of $50.275 (50% of the initial share price). If not auto-redeemed and the final share price is below the downside threshold price, holders suffer a 1-to-1 exposure to the decline in the underlying stock and may lose all principal. The issuer will receive proceeds for general corporate purposes and expects to hedge its obligations. All payments are subject to the credit risk of Morgan Stanley and MSFL.
Morgan Stanley Finance LLC priced Buffered Jump Securities with Auto-Callable Feature linked to a seven-stock semiconductor basket. The issue totals $5,926,000 at a stated principal amount of $1,000 per security and an original issue price of $1,000 (estimated value $975.90 on the pricing date).
Key economics: automatic early redemption on the first determination date (June 25, 2027) at an early redemption payment of $1,250.80; maturity June 15, 2028; participation rate 125%; buffer 20% (buffer level 80); downside factor 1.25. Payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering Enhanced Trigger Jump Securities due November 4, 2027, fully and unconditionally guaranteed by Morgan Stanley. The securities have an original issue price of $1,000 per security, pay no interest and return a fixed $136.50 upside payment at maturity only if both underlying indices finish at or above 80% of their initial values. The securities reference the Russell 2000® and S&P 500®, have a pricing date of June 30, 2026 and a valuation date of November 1, 2027. Morgan Stanley estimates an indicative value on the pricing date of approximately $971.20 per security. If either index finishes below its 80% downside threshold, maturity payment will equal $1,000 multiplied by the worst-performing index performance factor and may be less than $800 or zero, so investors may lose their entire principal.
Morgan Stanley Finance LLC is offering contingent income, auto-callable principal-at-risk securities due January 4, 2028, fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000, a contingent coupon at an annual rate of 8.50%, and an estimated value on the pricing date of approximately $963.30. The securities reference two ETFs—the XLE Fund and the XOP Fund—and pay coupons or trigger automatic early redemption only if both underliers meet specified barrier and call threshold levels (call threshold = 100% of initial level; coupon barrier and downside threshold = 65% of initial level). If not auto‑redeemed, final payoff returns principal only if both underliers are at or above the downside thresholds; otherwise payment at maturity declines in proportion to the worst performing underlier and could be zero. The strike and pricing date are June 30, 2026, with the final observation date on December 30, 2027.
The pricing supplement describes Principal at Risk, contingent-income, auto-callable securities issued by Morgan Stanley Finance LLC and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and a contingent coupon of 12.00% per annum payable only if the underlying, Meta Platforms Class A common stock, meets the coupon barrier on observation dates. The notes can be automatically redeemed on specified redemption determination dates if the closing level meets the call threshold; if not redeemed, maturity payments depend on the final level versus a downside threshold (both barriers set at 64% of the initial level), meaning investors may lose principal pro rata to negative performance. Final observation date is June 18, 2029 with maturity on June 22, 2029. All payments are subject to issuer and guarantor credit risk. The estimated value on the pricing date is approximately $967.30 per security.
Morgan Stanley Finance LLC priced a contingent income, memory auto-callable principal-at-risk note linked to NVIDIA Corporation common stock with a stated principal amount of $1,000 per security. The note has a pricing and strike date of June 18, 2026, an original issue date of June 24, 2026, a final observation date of June 18, 2030, and a maturity date of June 24, 2030.
The securities pay a contingent coupon (annual rate at least 14.75%, final rate set on the pricing date) only when the underlier’s closing level on observation dates meets or exceeds a coupon barrier set at 75% of the initial level. They automatically redeem early if the underlier equals or exceeds a call threshold equal to 100% of the initial level on any redemption determination date. At maturity, if the final level is below the downside threshold (75% of the initial level), principal is reduced proportionally to the underlier’s decline (payment = $1,000 × final level / initial level).
Morgan Stanley Finance LLC offers Principal at Risk securities due August 4, 2027, linked to the worst performing of the Russell 2000® and S&P 500® indices under a preliminary pricing supplement dated June 16, 2026.
The securities have a stated principal amount of $1,000 per security, an upside payment of $130 (13%) if the worst performing underlier is at or above an 85% downside threshold on the observation date (July 30, 2027), and otherwise pay the stated principal multiplied by the worst performing underlier’s performance factor; there is no minimum payment. The estimated value on the pricing date is approximately $973.80 per security. All payments are subject to MSFL’s credit risk and guaranteed by Morgan Stanley.
Morgan Stanley Finance LLC offers Buffered PLUS structured notes due July 3, 2031 linked to the S&P 500® Index. Each security has a stated principal amount of $1,000, an upside leverage factor of 125%, a capped maximum payment of $1,664 and a 15% downside buffer with a 15% minimum payment at maturity. The pricing and strike dates are June 30, 2026 and the original issue date is July 6, 2026. The document states an estimated value on the pricing date of approximately $977.60 per security. Payments at maturity depend solely on the closing level of the underlier on the observation date and are subject to issuer and guarantor credit risk and the calculation agent’s determinations.
Morgan Stanley Finance LLC is offering structured, 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 contingent annual coupon of 13.40% payable only when each underlier meets its coupon barrier on observation dates. The securities reference the Dow Jones Industrial Average, the Russell 2000® Index and the State Street® Technology Select Sector SPDR® ETF and pay at maturity either the stated principal (if all underliers are at or above 80% buffer levels) or a reduced amount reflecting the worst performing underlier beyond a 20% buffer; the minimum payment at maturity is 20% of principal. The notes are callable beginning December 30, 2026 if a risk neutral valuation model indicates early redemption is economically rational for the issuer. Estimated value on the pricing date was approximately $980.00 per security. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC priced Principal-at-Risk structured notes: Contingent Income Memory Buffered Auto-Callable Securities linked to Palantir Technologies Inc. class A common stock, with a stated principal amount of $1,000 per security and an estimated value of approximately $977.50 on the pricing date. The notes pay a 19.75% contingent coupon (annual rate) on observation dates if the closing level of the underlier meets the coupon barrier level, feature automatic early redemption beginning on September 28, 2026, and mature on December 30, 2027. A 30% buffer applies at maturity; if the final level is below the buffer, investors lose 1.4286% of principal for each 1% decline beyond the buffer. Payments are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley. All payments are subject to issuer credit risk and tax uncertainties.
Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable notes due June 24, 2031, fully guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and an estimated value on the pricing date of approximately $950.70. The notes pay no interest and carry an automatic early redemption on the first determination date (June 22, 2027) if the underlier is at or above the call threshold (100% of the initial level), in which case the early redemption payment is $1,252.50 per security. If not called, maturity payments depend on the final level versus the initial and a 50% downside threshold: if the final level is above the initial level holders receive principal plus an upside payment (participation rate 350%); if the final level is between the downside threshold and the initial level holders receive the stated principal; if the final level is below the downside threshold holders receive the stated principal multiplied by the performance factor and may suffer substantial or total loss. The underlier is the S&P 500 Futures 40% Intraday 4% Decrement VT Index, which includes a 4.0% per annum decrement and limited operating history (inception August 30, 2024). All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC priced a contingent-income, principal-at-risk note linked to Ares Management Corporation Class A common stock, due June 29, 2029. Each security has a $1,000 stated principal amount and an estimated value on the pricing date of approximately $962.10. The securities pay a contingent coupon at an annual rate of 19.30% only if the closing level of the underlier meets or exceeds the coupon barrier on observation dates; the coupon barrier and downside threshold are each set at 60% of the initial level. The notes feature automatic early redemption if the underlier is at or above the call threshold (100% of initial level) on any redemption determination date, and if not redeemed at maturity investors will receive principal only if the final level is at or above the downside threshold; otherwise payment at maturity equals the stated principal multiplied by the performance factor (final level/initial level), which could result in a significant loss or total loss of principal.
Morgan Stanley Finance LLC is offering contingent income auto-callable securities linked to NextEra Energy, Inc. common stock with a stated principal amount of $1,000 per security and an original issue price of $1,000. The notes pay a contingent coupon at an annual rate of 9.40% on coupon payment dates only if the underlier's closing level on each observation date is at or above a coupon barrier equal to 70% of the initial level. The securities may be automatically redeemed on specified redemption determination dates if the closing level is at or above the call threshold (100% of the initial level). If not redeemed, maturity payment depends on the final level versus a downside threshold equal to 70% of the initial level; if the final level is below that threshold, the payment equals the stated principal multiplied by the performance factor and could be significantly less than principal, including zero. The estimated value on the pricing date is approximately $966.80 per security. All payments are subject to the issuer's and guarantor's credit risk; holders do not participate in upside of the underlier and may receive no coupons.
The issuer, Morgan Stanley Finance LLC, is offering structured, principal-at-risk notes due June 26, 2031 that are fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount, an estimated value on the pricing date of approximately $911.60, and a 15% buffer level. The notes reference the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index, carry an automatic early‑redemption feature tied to periodic determination dates beginning June 23, 2027, and pay fixed early redemption amounts (first such payment is $1,181.00 per security). If not called, the maturity payoff is formulaic: $1,905.00 if the final level is at or above the call threshold, the stated principal if final level is between the buffer and call threshold, and a reduced payment below the buffer (losses of 1% per 1% index decline beyond the buffer), subject to a minimum payment equal to 15% of principal. All payments are subject to issuer credit risk and tax and distribution restrictions described herein.
Morgan Stanley Finance LLC priced market-linked notes tied to the Vanguard Value Index Fund that mature on June 21, 2030. Each note has a $1,000 stated principal amount and an issue price of $1,000. At maturity holders receive principal plus an upside payment equal to the 100% participation in the underlier’s percent change, subject to a $1,443 maximum payment per note (144.30% of principal). The notes pay no interest, are unsecured obligations of MSFL and are fully guaranteed by Morgan Stanley; all payments are subject to issuer credit risk. The observation date for the final level is June 17, 2030, and the strike/pricing date is June 16, 2026. The issuer’s estimated value on the pricing date was approximately $973.70 per note.
Morgan Stanley Finance LLC priced contingent income, principal-at-risk notes linked to Super Micro Computer, Inc. (SMCI) stock. Each security has a $1,000 stated principal amount, an estimated value on pricing of approximately $966.80, and a contingent coupon of 43.40% per annum.
The notes can auto-redeem on specified redemption dates if the underlier meets the call threshold ($30.85); coupon payments require the closing level to be at or above the coupon barrier ($18.51) on observation dates. If not auto‑redeemed, maturity payment on December 20, 2027 depends on the final level versus the downside threshold ($18.51) and could result in full or substantial loss of principal.
The issuer, Morgan Stanley Finance LLC, is offering principal-at-risk structured notes due December 30, 2027 linked to Taiwan Semiconductor Manufacturing Company Limited American depositary shares and fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and a contingent coupon of 16.65% per annum. Coupons are paid only if the underlier meets a coupon barrier on observation dates; the notes are auto-callable if the underlier reaches the call threshold on any redemption determination date. At maturity investors receive principal only if the final level is greater than or equal to the buffer level (75% of the initial level); otherwise losses apply at a downside factor of 1.3333 per 1% decline beyond the buffer, and the payment could be significantly less than principal or zero. Estimated value on the pricing date was approximately $975.50 per security. All payments are subject to Morgan Stanley's credit risk and the offering includes distribution fees and structuring/hedging costs embedded in the issue price.
Morgan Stanley Finance LLC priced a market-linked, auto-callable principal-at-risk security guaranteed by Morgan Stanley. Each security has a $1,000 face amount, a pricing date of June 29, 2026 and a maturity date of July 3, 2029. The securities pay contingent monthly coupons (with memory) only if a weighted two-stock Basket meets a coupon threshold (80% of the starting level). The contingent coupon rate will be set on the pricing date and will be at least 17.25% per annum. The securities include a 20% downside buffer: if the ending level is below the downside threshold, investors absorb losses beyond the buffer (up to an 80% loss). Estimated value on the pricing date is approximately $931.10 per security; offering price is $1,000 per security with agent commission up to $23.25.
Morgan Stanley Finance LLC priced a structured, principal‑at‑risk note linked to the lowest performing of the Dow Jones Industrial Average and the S&P 500. Each security has a $1,000 face amount, a 150% participation rate to a capped maximum return of at least 34.50% ($345), a 20% buffer (threshold = 80% of the starting level) and matures on June 22, 2029, subject to postponement. The pricing date is June 18, 2026 and the estimated value on the pricing date is approximately $960.80 per security (within $30.00). Agent commissions of up to $28.25 per security are disclosed. These securities do not pay interest, are exposed to Morgan Stanley credit risk and may return as little as 20% of principal at maturity if the lowest performing underlying falls by 100%.
Morgan Stanley Finance LLC is offering $7,552,750 of Trigger Absolute Return Step Securities linked to a weighted basket of five international indices and fully and unconditionally guaranteed by Morgan Stanley. Each $10 Security has a Step Return of 44.00%, an Initial Basket Level set to 100, and a Downside Threshold of 75 (75% of the Initial Basket Level). If the Final Basket Level on the Final Valuation Date is at or above the Step Barrier (100), holders receive $10 plus the greater of the Step Return (44.00%) or the Basket Return; if the Final Basket Level is below the Downside Threshold, holders will suffer principal loss proportionate to the negative Basket Return. Trade Date is June 12, 2026, Settlement Date is June 16, 2026, Final Valuation Date is June 12, 2031 and Maturity Date is June 16, 2031. Payments and any contingent repayment of principal depend on MSFL's creditworthiness; estimated value on the Trade Date was $9.479 per Security.