Morgan Stanley 424B Filings

Morgan Stanley Finance LLC is offering Trigger Autocallable GEARS linked to the Russell 2000® Index with an $10.00 issue price and a total Price to Public of $8,755,360. The securities mature on June 16, 2031, are automatically callable if the Russell 2000® closes at or above the Autocall Barrier on the Observation Date June 21, 2027, and pay a fixed Call Return based on a 12.00% annual Call Return Rate if called. If not called, a payment at maturity will reflect the Underlying Return multiplied by an Upside Gearing of 1.55 when positive; if the Final Level is below the Downside Threshold (75% of the Initial Level), investors bear proportional principal loss. The Issue Price includes issuance and hedging costs and the estimated Trade Date value per security is $9.651. The proceeds are for general corporate purposes and all payments are subject to Morgan Stanley/MSFL credit risk.

Morgan Stanley Finance LLC offers Market Linked Securities (auto-callable, principal at risk) linked to the lowest performing of the Russell 2000®, iShares Expanded Tech-Software ETF and the Dow Jones Industrial, with a face amount of $1,000 per security and a maturity date of January 15, 2030.

The pricing date is July 10, 2026 and the original issue date is July 15, 2026. The securities are fully and unconditionally guaranteed by Morgan Stanley, can be automatically called monthly beginning July 15, 2027, and pay specified call amounts if all underlyings meet call thresholds. The issuer estimates the securities’ value at $948.80 per security on the pricing date. Investors face downside exposure if the lowest performing underlying finishes below its threshold; the structure limits upside to predetermined call premiums.

Morgan Stanley Finance LLC is offering 518 market-linked, auto-callable principal-at-risk securities with a face amount of $1,000 each. The securities mature on June 15, 2028 (subject to postponement) and are fully and unconditionally guaranteed by Morgan Stanley.

The securities are linked to the lowest performing of three State Street sector ETFs (XLF, XLP, XLU). They carry a 20% buffer against losses on the lowest performing underlying but expose investors to up to 80% principal loss if that underlying falls more than 20 by the final calculation day. The estimated value on the pricing date was $958.10 per security; the price to public is $1,000 per security. Agent commissions of up to $23.25 per security are disclosed and proceeds to issuer are listed as $505,956.50 in the pricing table.

The issuer Morgan Stanley Finance LLC priced market‑linked, auto‑callable, principal‑at‑risk securities linked to the common stock of Super Micro Computer, Inc. (starting price $31.97) with a face amount of $1,000 per security and a contingent coupon rate of 24.80% per annum. The securities pay monthly contingent coupons only if the stock closing price on monthly calculation days meets or exceeds the coupon threshold (45% of the starting price), are callable after a three‑month non‑call period if the stock meets the call threshold (90% of the starting price), and expose holders to full downside risk if the ending price is below the downside threshold (45% of the starting price), potentially causing losses greater than 55% of principal at maturity.

Morgan Stanley Finance LLC is offering Market Linked Securities with an aggregate face amount of $529,000. Each security has a $1,000 face amount, a contingent fixed return of 43.10% and is fully and unconditionally guaranteed by Morgan Stanley. The securities pay at maturity on June 24, 2027 based on the performance of the lowest performing common stock among Apple Inc., Amazon.com, Inc. and Marvell Technology, Inc.; if that lowest performing stock closes below its 50% threshold, holders will be exposed to downside and may lose more than half or all of their principal. The estimated value on the pricing date was $971.30 per security and the price to public is $1,000 per security.

Morgan Stanley Finance LLC priced a $500,000 offering of market‑linked, principal‑at‑risk securities due June 24, 2027, fully guaranteed by Morgan Stanley. Each security has a $1,000 face amount and a contingent fixed return of 13.00% ($130) if the lowest performing underlying finishes at or above its 65% threshold. If the lowest performing underlying finishes below its threshold, holders receive $1,000 plus the underlying return of that lowest performing underlying, exposing investors to losses greater than 35% and potentially the full principal. The securities reference the XLK, XBI and XLU ETFs; starting prices on the pricing date were XLK $183.21, XBI $132.74 and XLU $44.05. The estimated value on the pricing date was $965.40 per security; underwriting discounts and issuance, structuring and hedging costs are included in the $1,000 face amount. Secondary market liquidity and all payments are subject to Morgan Stanley credit risk.

The pricing supplement describes an offering of Contingent Income Buffered Auto-Callable Securities by Morgan Stanley Finance LLC, fully guaranteed by Morgan Stanley, with a stated principal amount of $1,000 per security and aggregate principal of $550,000. The securities reference CoreWeave, Inc. Class A common stock and mature on March 8, 2028. They pay a contingent coupon of 29.50% per annum only if the underlier meets the coupon barrier on observation dates and may auto-redeem early if the underlier meets the call threshold. At maturity, if the final level is below the 50% buffer, investors incur a downside factor of 2 (lose 2% for each 1% decline beyond the buffer), and principal may be significantly reduced or zero. All payments are subject to issuer and guarantor credit risk.

Morgan Stanley Finance LLC is offering Buffered PLUS principal-at-risk securities linked to the S&P 500® Index with a stated principal amount of $1,000 per security and an aggregate principal amount of $1,656,000. The original issue price is $1,000 with an estimated value on the pricing date of $988.40.

The securities mature on July 14, 2027 and use final averaging dates in late June/early July 2027 to determine the final level. They provide 150% leveraged upside subject to a maximum payment of $1,129.50, include a 10% buffer (buffer level = 6,647.985), and have a minimum payment at maturity of 10% of principal. The offering is sold to fee-based advisory accounts through Morgan Stanley & Co. LLC.

Morgan Stanley Finance LLC priced a structured, principal-at-risk offering linked to the S&P 500® Index with a $1,000 face amount per security, a 150% participation rate and a capped maximum return of 59.70% ($597.00). The securities were priced on June 11, 2026 with an estimated value of $951.40 per security and mature on June 16, 2031. The offering lists a starting level of 7,394.30 and a threshold level equal to 80% of the starting level (5,915.44); if the ending level on the calculation day is below that threshold, investors will suffer a pro rata loss of principal. Price to public is $1,000 per security, agent commissions of up to $38.70 per security, and proceeds to issuer listed as $961.30 per security.

Morgan Stanley Finance LLC is offering Principal at Risk securities linked to the worst performing of the Nasdaq-100® Technology Sector, the Russell 2000® Index and the S&P 500® Index. The securities have a $1,000 stated principal amount, a 15% buffer, a capped upside payment of $138.50 and mature on July 14, 2027. If the worst performing underlier is at or above its buffer level on the observation date, holders receive principal plus the fixed upside payment; if below the buffer, investors lose 1% for each 1% decline beyond the 15% buffer, subject to a 15% minimum payment. All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley; payments are subject to issuer credit risk.

Morgan Stanley Finance LLC is offering callable, principal-at-risk notes linked to the worst performing of the Nasdaq-100 Index, the Russell 2000 Index and the SPY ETF. The securities have a stated principal amount of $1,000 per security, aggregate principal amount of $400,000, and a contingent coupon of 11.30% per annum.

Coupons are paid only if the closing level of each underlier is at or above its 70% coupon barrier on an observation date. If any underlier is below its 70% downside threshold at maturity, investors lose 1% for each 1% decline in the worst performing underlier; payment could be significantly less than principal or zero. The issuer may call the securities on specified monthly redemption dates beginning June 15, 2027 based on the output of a risk neutral valuation model. All payments are subject to Morgan Stanley's credit risk.

Morgan Stanley Finance LLC is offering Principal-at-Risk structured notes with a stated principal amount of $1,000 per security and an aggregate principal amount of $1,000,000. The securities link payoff to the worst performing of CVS Health Corporation and Kratos Defense & Security Solutions, Inc..

At maturity on December 16, 2026, if each underlier's final level is at or above its downside threshold, investors receive the stated principal plus an $281.50 upside payment (28.15%). If either underlier closes below its downside threshold (70% of its initial level), the payout equals principal × the worst performing underlier's performance factor, and investors may lose part or all of their principal. Estimated value on the pricing date was $978.10 per security; the securities pay no interest and are subject to Morgan Stanley credit risk.

The issuer, Morgan Stanley Finance LLC (guaranteed by Morgan Stanley), is offering contingent income auto-callable principal-at-risk securities linked to the worst performing of the IHI and XLK ETFs. Each security has a stated principal amount of $1,000, an aggregate principal amount of $2,385,000, and an estimated value on the pricing date of $960.60.

The notes pay a contingent coupon of 14.00% per annum only if on an observation date both underliers are at or above their coupon barrier levels (75% of initial). The notes are auto-callable on scheduled redemption determination dates for the stated principal plus the contingent coupon if both underliers meet their call thresholds (100% of initial). At maturity, if the final level of the worst performing underlier is below its downside threshold (75% of initial), principal is reduced pro rata by the performance factor and could be significantly impaired or zero. All payments are subject to the issuer’s and guarantor’s credit risk.

Morgan Stanley Finance LLC priced Contingent Income Auto-Callable Securities tied to CoreWeave, Inc. class A common stock. The offering totals $2,000,000 in aggregate principal, with each security issued at $1,000 and a stated principal amount of $1,000. The securities mature on June 15, 2028 and pay a contingent quarterly coupon at an annual rate of 32.40% only for determination dates when the underlying closing price is at or above the downside threshold price of $43.025 (≈45% of the initial share price). If not called early and the final share price is below the threshold, investors are exposed 1-to-1 to equity declines and could lose most or all principal. The issuer and guarantor credit risk remains with Morgan Stanley Finance LLC and Morgan Stanley.

Morgan Stanley Finance LLC is offering Principal at Risk securities linked to the KOSPI 200 Index that mature on September 14, 2026. Each security has a $1,000 stated principal amount and pays no interest. Investors receive principal at maturity if the index stays at or above an 80% buffer; above the initial level they receive 100% participation in appreciation up to a $1,240 cap. If the index closes below the buffer, losses equal 1.25% of principal for each 1% decline beyond the 20% buffer; the securities may lose the entire investment. All payments are unsecured and subject to Morgan Stanley's credit risk.

Morgan Stanley Finance LLC is offering Structured Investments Enhanced Buffered Jump Securities linked to the S&P 500® Index with a stated principal amount of $1,000 per security and an aggregate offering of $1,000,000. The securities mature on July 15, 2027 and pay a fixed upside payment of $98.10 per security (9.81%) if the final level is greater than or equal to the buffer level. A 10% buffer applies; if the final level is below the buffer, investors lose 1.1111% of principal for every 1% decline beyond the buffer, with no minimum payment at maturity. The pricing date was June 11, 2026, the initial level was 7,266.99, the buffer level is 6,540.291, and the estimated value on the pricing date was $985.20 per security. All payments are subject to MSFL's and Morgan Stanley’s credit risk.

Morgan Stanley Finance LLC is offering Principal at Risk structured notes linked to the worst performing of the iShares Expanded Tech-Software ETF and the VanEck Gold Miners ETF. The securities have a $1,000 stated principal amount per security, an aggregate principal amount of $345,000, an original issue date of June 16, 2026 and a maturity date of December 14, 2028.

The notes pay a contingent coupon at an annual rate of 10.00% only if, on each observation date, the closing level of both underliers is at or above their coupon barrier levels; otherwise no coupon is paid for that interest period. The notes may be automatically redeemed early if both underliers meet their call threshold levels on a redemption determination date; early redemption returns the principal plus the contingent coupon for the related period. At maturity, if the worst performing underlier is below its buffer level, payment at maturity declines 1% for each 1% the worst performing underlier falls beyond the buffer, subject to a minimum payment at maturity of 25% of principal. All payments are subject to MSFL’s and Morgan Stanley’s credit risk.

Morgan Stanley Finance LLC priced Principal at Risk notes tied to the S&P 500® Index with a one‑year term maturing July 15, 2027. Each security has a $1,000 stated principal amount and an upside payment of $92.50 (9.25%) if the final level is greater than or equal to the downside threshold (80% of the initial level). If the final level is below the downside threshold, holders suffer losses pro rata to the index decline; there is no minimum payment and principal could be lost.

The aggregate issue is $5,995,000, estimated value on pricing date was $983.70, and sales commissions of $10.42 per security reduced proceeds to the issuer.

Morgan Stanley Finance LLC is offering Contingent Income Auto-Callable Securities linked to the common stock of NVIDIA Corporation. The securities are principal-at-risk notes, $1,000 stated principal per security, aggregate $705,000, issued June 16, 2026 and maturing June 14, 2029.

The notes pay a contingent coupon only if the closing stock level on each observation date is at or above the coupon barrier of $122.922 (60% of the initial level). They will auto-redeem early if the closing level on a redemption determination date is at or above the call threshold of $204.87. At maturity, if the final level is below the downside threshold ($122.922), payment equals stated principal multiplied by the performance factor (final level / initial level), exposing investors to full downside and possible total loss. Estimated value on the pricing date was $962.70 per security and the agent received a fixed commission of $27.50 per security.

Morgan Stanley Finance LLC priced Principal at Risk securities linked to the EURO STOXX 50® Index due June 16, 2031. Each security has a stated principal amount of $1,000, an upside payment of $388.70 (38.87%) and an estimated value on the pricing date of $959.80.

At maturity investors receive principal plus the greater of the index percent change or the upside payment if the final level is at or above the downside threshold (75% of the initial level). If the final level is below that threshold, investors lose 1% of principal for each 1% decline in the underlier; there is no minimum payment and the investment can result in total loss. All payments are unsecured and subject to Morgan Stanley's credit risk. Agent commissions of $30 per security reduce proceeds to the issuer.

Morgan Stanley Finance LLC is issuing Principal at Risk notes linked to the S&P 500® Index due July 15, 2027. Each security has a stated principal amount of $1,000, an upside payment of $82.40 (8.24%) if the final level is at or above the 75% downside threshold, and a performance-based downside where investors lose 1% per 1% decline below the threshold. The aggregate offering size is $700,000. Payments depend on the index closing level on the observation date and are subject to Morgan Stanley credit risk.

Morgan Stanley Finance LLC is offering $1,000,000 of Principal at Risk securities due December 16, 2026, fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal of $1,000, an upside payment of $233 (23.30%), an estimated value on the pricing date of $974.60, and an issue price of $1,000. Payment at maturity depends on the worst performing of Samsara Inc. (IOT) and NextEra Energy, Inc. (NEE); if the final level of either underlier is below its 70% downside threshold, investors lose on a 1% for 1% basis versus that worst underlier, with no minimum payoff. Observation date is December 11, 2026. All payments are subject to Morgan Stanley's credit risk, secondary market liquidity may be limited, and U.S. federal tax treatment is uncertain.

Morgan Stanley Finance LLC is offering Principal at Risk structured notes due June 16, 2032, linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. The securities are unsecured obligations of MSFL and are fully guaranteed by Morgan Stanley and carry full principal risk.

The notes have a $1,000 stated principal amount, aggregate offering size of $4,744,000, an estimated value on the pricing date of $959.30 per security, and automatic early redemption opportunities beginning on the first determination date of June 15, 2027. Payment mechanics: fixed cash early redemption payments (illustratively rising to $2,618.625 at the 20th determination date) if the closing level of the underlier meets or exceeds the call threshold; at maturity investors receive either a fixed positive payment, the stated principal, or an amount that declines pro rata with the underlier below the downside threshold, which could result in total loss of principal.

Morgan Stanley Finance LLC priced contingent income auto-callable notes due June 23, 2031 fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an annual contingent coupon of 8.15% payable only when each underlying index meets its coupon barrier on observation dates.

The notes reference the Dow Jones Industrial Average, Nasdaq-100 and Russell 2000 and are linked to the worst performing underlier. They are automatically redeemed early if all three underliers meet call thresholds on a redemption determination date; otherwise principal at maturity depends on the worst performing underlier (downside threshold: 70% of initial level), exposing investors to loss of principal and to issuer credit risk.

Morgan Stanley Finance LLC is offering principal-at-risk, buffered, auto-callable structured notes linked to the VanEck® Gold Miners ETF (GDX). Each note has a $1,000 stated principal amount and an original issue price of $1,000. The notes may be automatically redeemed on the first determination date for at least $1,240 per security if the underlier meets the call threshold. If not called, maturity outcomes depend on the final level relative to an initial level and an 80% buffer level: investors receive principal if the final level is at or above the buffer; if the final level is below the buffer they absorb losses equal to 1.25% of principal for each 1% decline beyond the buffer. The term runs to final determination on June 20, 2028 with maturity on June 23, 2028. All payments are subject to Morgan Stanley’s credit risk and the estimated value on pricing was approximately $981.40 per security.

Morgan Stanley Finance LLC is offering principal‑at‑risk, auto‑callable structured notes linked to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index. Each note has a stated principal amount of $1,000, an original issue price of $1,000, and an estimated value on the pricing date of approximately $950.90.

The securities can be automatically redeemed on the first determination date (June 21, 2027) for an early redemption payment of $1,300 if the closing level of the underlier is greater than or equal to the call threshold (90% of the initial level). If not called, maturity (June 20, 2031) payouts depend on final performance: investors receive principal plus an upside payment with a 300% participation rate for positive returns, full principal if the final level is at or above 50% of the initial level, or a reduced payment (pro rata loss) if below that downside threshold. All payments are subject to MSFL’s and Morgan Stanley’s credit risk; principal can be lost.

Morgan Stanley Finance LLC is offering callable Contingent Income Securities due June 22, 2029 linked to the worst performing of the Nasdaq-100® Technology Sector Index, the Russell 2000® Index and the State Street® Energy Select Sector SPDR® ETF. Each security has a $1,000 stated principal amount and a contingent coupon at an annual rate of 12.65% payable only if all three underliers meet coupon barrier levels on observation dates. The securities are callable beginning on December 23, 2026 if a risk neutral valuation model indicates redemption is economically rational. At maturity, if any underlier is below its downside threshold (60% of its initial level), investors suffer a loss proportional to the worst performing underlier; if all underliers are at or above their downside thresholds, principal is returned. All payments are subject to the issuer’s and guarantor’s credit risk.

Morgan Stanley Finance LLC offers a preliminary pricing supplement for auto-callable principal-at-risk securities due July 1, 2031, fully and unconditionally guaranteed by Morgan Stanley. The securities are linked to the worst performing of the SPDR S&P MidCap 400 ETF (MDY) and the SPDR S&P Regional Banking ETF (KRE). The original issue price is $1,000 per security and the issuer’s estimated value on the pricing date was approximately $936.60 per security.

The notes feature automatic early redemption beginning with the first determination date on June 29, 2027 if both underliers meet their call thresholds (set at 100% of initial level). Early redemption payments rise across 16 scheduled determination dates, with example payments ranging from $1,108 to $1,513 per security. If not called, maturity payments depend on underlier performance: $1,540 if both final levels ≥ call thresholds; return of principal if both final levels ≥ downside thresholds (70% of initial); otherwise payment = principal × performance factor of the worst performing underlier, potentially resulting in a total loss of principal.

Morgan Stanley Finance LLC is offering callable, principal‑at‑risk structured notes due December 30, 2027 linked to the worst performing of the Nasdaq-100 Technology Sector Index and the Russell 2000 Index. Each security has a stated principal amount of $1,000 and a contingent coupon at an annual rate of 12.35% payable only if, on each observation date, the closing level of both underliers is at or above their coupon barrier levels (each set at 70% of the initial level). The securities may be called beginning October 1, 2026 if a risk neutral valuation model indicates it is economically rational for the issuer to redeem. At maturity, if the final level of either underlier is below its downside threshold (also 70% of initial level), the payment equals $1,000 multiplied by the performance factor of the worst performing underlier, which could result in a significant loss of principal, including total loss.

The document discloses an estimated value on the pricing date of approximately $980.20 per security and notes all payments are subject to Morgan Stanley's credit risk. The offering includes conflicts of interest and tax‑treatment uncertainty; aggregate principal amount and certain distribution pricing fields are not shown in this excerpt.

Morgan Stanley Finance LLC is offering structured, principal-at-risk notes tied to the Euronext Semiconductors & AI 10 Index with a stated principal amount of $1,000 per security. The notes are auto-callable on the first determination date and pay no regular interest. If not auto-redeemed, maturity payouts depend on index performance: appreciation is paid with a 200% participation rate; declines are absorbed only after a 25% buffer (buffer level is 75% of initial level), and losses beyond the buffer reduce principal on a 1:1 basis subject to a 25% minimum payment at maturity. Early redemption on the first determination date yields $1,150 per security. All payments are subject to MSFL credit risk. The pricing date and strike date are June 26, 2026, original issue date July 1, 2026, first determination date June 29, 2027, final determination date June 26, 2029, and maturity June 29, 2029. The estimated value on the pricing date was approximately $955.60 per security.

Morgan Stanley Finance LLC is offering Principal at Risk notes linked to the performance of ServiceNow, Inc. common stock with a $1,000 stated principal amount per security and a fixed upside payment of $297.90 (29.79%). The notes mature on July 7, 2027 with an observation date of July 1, 2027. The structure provides a 25% buffer (buffer level 75% of the initial level) and a downside factor of 1.3333, meaning investors lose 1.3333% of principal for each 1% decline in the underlier beyond the buffer. The original issue price is $1,000 and the estimated value on the pricing date was approximately $978.80. All payments are unsecured and subject to Morgan Stanley's credit risk; there is no guaranteed minimum payment and investors could lose their entire investment.

Morgan Stanley Finance LLC is offering callable Principal at Risk securities linked to the common stock of Salesforce, Inc. The securities have a $1,000 stated principal amount, an annual contingent coupon of 15.00%, a potential early redemption on December 18, 2026, and a maturity of March 18, 2027.

Coupons are payable only if the underlier's closing level on each observation date meets or exceeds a coupon barrier set at 59.80% of the initial level; the downside threshold equals the same 59.80%. If the final level is below that threshold, maturity payment equals stated principal × final/initial level, which could result in a significant loss or total loss of principal. The estimated value on pricing date was approximately $981.40 per security.

Morgan Stanley Finance LLC is offering callable contingent income principal-at-risk securities, each with a $1,000 stated principal amount and a 10.90% per annum contingent coupon payable only if each underlier meets its coupon barrier on observation dates. The notes are linked to the worst performing of the Nasdaq-100 Technology Sector, Russell 2000 and the XLU ETF, mature on June 21, 2028, and are callable beginning September 18, 2026 based on a risk neutral valuation model. If final levels fall below an 80% buffer, principal is reduced pro rata (1% loss per 1% decline beyond the buffer) subject to a 20% minimum payment. All payments are subject to Morgan Stanley's credit risk; estimated value on pricing date was approximately $987.10 per security.

Morgan Stanley Finance LLC priced principal‑at‑risk notes linked to Broadcom Inc. common stock. Each security has a $1,000 stated principal amount and a capped upside payment of $242.90 (24.29%). The notes include an 80% buffer (buffer level $305.656 vs. initial level $382.07) and a downside factor of 1.25, meaning losses beyond the 20% buffer are amplified by 1.25x. Estimated value on the pricing date was approximately $980 per security; the issue price is $1,000 with agent commissions of $10 per security. Payments at maturity depend solely on the closing level on the observation date and are unsecured obligations of MSFL, fully guaranteed by Morgan Stanley.

Morgan Stanley Finance LLC priced a $1,000,000 offering of structured notes — Principal at Risk Enhanced Trigger Jump Securities — with a stated principal amount of $1,000 per security and an issue price of $1,000 per security. The securities reference the S&P 500® Index, have an initial level of 7,394.30 (closing June 11, 2026), a downside threshold level equal to 80% of the initial level (5,915.44), an observation date of June 11, 2031 and a maturity date of June 16, 2031. At maturity, if the final level is ≥ the downside threshold, holders receive the stated principal plus the greater of the fixed upside payment of $200 (20%) or the cash amount tied to the underlier percent change, capped at a maximum payment of $1,850 (185%). If the final level is below the downside threshold, holders lose 1% of principal for each 1% decline in the underlier and could lose the entire investment. All payments are subject to MSFL and Morgan Stanley credit risk; estimated value on the pricing date was $961.30 per security and selected dealers receive a $30 commission per security.

The issuer Morgan Stanley Finance LLC, guaranteed by Morgan Stanley, is offering Buffered PLUS with Downside Factor securities linked to the worst performing of the Nasdaq-100® Technology Sector Index℠ and the S&P 500® Index. Each security has a stated principal amount of $1,000, an original issue price of $1,000, and an estimated value on the pricing date of $975. The instruments provide 150% leverage on upside of the worst performing underlier but cap returns at a $1,310 maximum payment at maturity. A 15% buffer applies; losses beyond the buffer are multiplied by a 1.1765 downside factor, so investors may lose some or all principal. Payments depend solely on closing levels on the observation date and are subject to the issuer’s and guarantor’s credit risk.

Morgan Stanley Finance LLC priced enhanced buffered jump securities linked to the S&P 500® Index. The offering consists of $1,000 stated principal securities with an aggregate principal amount of $1,300,000, an upside payment of $93 (9.30%) and an estimated value on the pricing date of $985.

These are principal‑at‑risk notes maturing on June 28, 2027 with an observation date of June 23, 2027. A 10% buffer applies (buffer level 6,540.291), and losses beyond the buffer are multiplied by a downside factor of 1.1111. Payments depend on the closing final level on the observation date; there is no minimum payment and investors bear Morgan Stanley credit risk.

Morgan Stanley Finance LLC is offering 1,050 securities at a stated principal amount of $1,000 per security (aggregate principal amount $1,050,000) that mature on July 15, 2027 and are fully guaranteed by Morgan Stanley. The securities pay no interest and are principal‑at‑risk: if the S&P 500® Index final level on the observation date of July 12, 2027 is greater than or equal to the downside threshold level (6,176.942, equal to 85% of the initial level), holders receive the stated principal plus a fixed upside payment of $103.10 (a 10.31% return). If the final level is below the downside threshold, the payment is the stated principal multiplied by the performance factor (final level/initial level), and investors may lose some or all principal. The initial level (strike date June 10, 2026) is 7,266.99, the pricing date is June 11, 2026, the original issue date is June 16, 2026, and the estimated value on the pricing date is $983.50 per security. Sales-related fees include an agent commission of up to $10.42 per security and proceeds to the issuer of $989.58 per security. All payments are subject to Morgan Stanley’s credit risk.

Morgan Stanley Finance LLC priced a primary offering of contingent income auto-callable securities with an aggregate principal amount of $435,000, issued at $1,000 per security and fully and unconditionally guaranteed by Morgan Stanley. The notes mature on March 16, 2028 and are linked to the worst performing of the QQQ Fund, the S&P 500® Index and the GLD Fund. They pay a contingent coupon at an annual rate of 7.60% only if each underlier is at or above its coupon barrier on observation dates and include automatic early redemption if all underliers meet their call thresholds on a redemption determination date. If any underlier is below its downside threshold at maturity (each downside threshold equals 70% of its initial level), investors will suffer losses proportional to the decline in the worst performing underlier and could lose their entire principal. All payments are subject to issuer credit risk.

Morgan Stanley Finance LLC prices an Auto-Callable Trigger PLUS linked to the S&P 500® Index with a stated principal amount of $1,000 per security and a maturity of July 6, 2028. The securities pay no regular interest, carry principal-at-risk and are fully guaranteed by Morgan Stanley. If the index is at or above the initial index value on the first determination date (July 8, 2027), the securities will be auto-redeemed for an early redemption payment of $1,097.80 on the early redemption date (July 13, 2027). If not redeemed, at final determination (June 30, 2028) investors receive either the stated principal plus 125% of upside, the full principal, or a loss pro rata to index decline if the final index value is below the downside threshold (80% of the initial index value), potentially losing all principal. Estimated value at pricing: approximately $966.40.

Morgan Stanley Finance LLC offers capped leveraged buffered basket-linked notes fully and unconditionally guaranteed by Morgan Stanley with an expected term of approximately 14 to 16 months. The notes provide 180% Upside Participation (subject to a cap) and a 10.00% buffer against declines up to 90.00% of the initial basket level.

Key economics set to be fixed on the Trade Date include a Cap Level expected between 109.97% and 111.72% of the initial basket level, a Maximum Settlement Amount expected between $1,179.46 and $1,210.96 per $1,000 face amount, and an estimated Trade Date value of approximately $993.50 per note. Payments at maturity depend on the Final Basket Level versus the Initial Basket Level and are subject to the issuer’s credit risk.

Morgan Stanley Finance LLC is amending a pricing supplement for callable contingent income securities due December 8, 2028, fully guaranteed by Morgan Stanley. The tranche adds $3,526,000 of securities (stated principal $1,000 each) to existing securities to form a single tranche totaling $4,557,000.

The notes pay a contingent annual coupon of 12.50% on each interest period only if the closing level of each underlier is at or above its coupon barrier on the observation date. The securities are linked to the worst performing of the Nasdaq-100 Technology Sector, Russell 2000 and S&P 500. If any underlier is below its downside threshold at maturity, investors suffer losses proportional to the worst performing underlier; principal can be fully lost. The issuer may redeem early based on a risk-neutral valuation model; all payments are subject to issuer credit risk.

The Morgan Stanley Finance LLC preliminary pricing supplement describes a principal-at-risk structured note with a $1,000 stated principal amount per security linked to the worst performing of Eli Lilly common stock and Novo Nordisk ADS. The notes mature on June 22, 2029 with an automatic early redemption test on June 22, 2027. Investors receive $1,411 per security if both underliers meet their 100% call thresholds on the first determination date. If not redeemed, payoff at maturity depends on the worst performing underlier, with a 35% buffer and a 35% minimum payment; downside beyond the buffer results in a proportional loss of principal. Estimated value on pricing date was about $988.20 per security. All payments are subject to issuer and guarantor credit risk and U.S. federal tax treatment is described as uncertain.

Morgan Stanley Finance LLC is offering principal-at-risk, contingent income auto-callable securities linked to Five Below, Inc. common stock. Each note has a stated principal amount of $1,000, a contingent coupon at an annual rate of 12.50% and an estimated value on the pricing date of approximately $967.70. The notes may be automatically redeemed early if the underlier meets the call threshold (100% of the initial level) on any redemption determination date. If not redeemed, investors receive principal at maturity only if the final level is at or above the downside threshold (55% of the initial level); otherwise payment at maturity is reduced pro rata and could be zero. All payments are subject to the issuer’s and guarantor’s credit risk.

Morgan Stanley Finance LLC is offering market-linked notes due July 3, 2031, fully guaranteed by Morgan Stanley, that pay no interest and return at least the $1,000 stated principal per note at maturity plus a supplemental redemption amount, if any, based on a basket of five equity indices. The notes provide 119.78% participation in any positive basket appreciation measured from an initial basket value of 100 to the final basket closing value on the determination date of June 30, 2031. The estimated value on the pricing date is approximately $946.70 per note (original issue price $1,000), reflecting embedded costs and hedging. All payments are subject to the issuer’s credit risk and the notes will not be listed; secondary market liquidity may be limited.

Morgan Stanley Finance LLC is offering principal-at-risk auto-callable securities due March 27, 2031, fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and a contingent annual coupon of 10.75% payable only when all three underliers meet their coupon barrier levels on observation dates.

The notes are linked to the worst performing of the Nasdaq-100, Russell 2000 and S&P 500. Key structural levels (to be fixed on the strike date) are a call threshold of 100%, a coupon barrier of 75% and a downside threshold of 60% of each underlier’s initial level. If not auto‑redeemed and the worst performing underlier finishes below its downside threshold, principal loss equals the percent decline of that worst underlier; payments could be significantly less than, or equal to, zero. All payments are subject to the issuer’s credit risk.

Morgan Stanley Finance LLC priced an offering of principal-at-risk, auto-callable market-linked securities linked to the lowest performing of The Boeing Company common stock and Shopify Inc. Class A shares, with a face amount of $1,000 per security and a maturity date of June 14, 2029. The securities carry a 325% participation rate in positive performance of the lowest performing underlying stock, an estimated pricing-date value of $915.00 per security and an initial price to public of $1,000 per security. The securities are automatically called for a cash $1,400 call payment on the specified call date if each underlying stock closes at or above its call price on the call date.

The offering includes specific starting prices (BA $209.00, SHOP $108.20), call prices (95% of starting prices) and threshold prices (60% of starting prices: $125.40 for BA; $64.92 for SHOP). If not called, maturity payments depend on the lowest performing underlying stock and may cap positive returns at 40% under the contingent absolute return feature or expose investors to losses greater than 40, including possible total loss.

Morgan Stanley Finance LLC is offering principal-at-risk structured notes linked to the S&P 500® Futures Excess Return Index with a three-year term and an automatic early redemption feature. Each security has a $1,000 stated principal amount and an illustrative estimated value of $984.50 on the pricing date. The notes pay no regular interest, carry a 10% buffer (buffer level = 90% of the initial level) and a 248% participation rate for upside at maturity. If the underlier is at or above the call threshold on the first determination date (June 23, 2027), the notes auto-redeem for an early redemption payment of $1,140. At maturity (June 22, 2029), payments depend on the final level relative to the initial and buffer levels and are subject to the issuer's credit risk.

Morgan Stanley Finance LLC is offering Principal at Risk notes due March 28, 2030 that are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and a contingent annual coupon of 9.05% payable only when each of the Nasdaq-100, Russell 2000 and S&P 500 closing levels meets its coupon barrier on observation dates. The notes are auto-callable on specified dates if each underlier meets its call threshold; otherwise investors face downside exposure tied to the worst performing underlier, with a downside threshold at 70% of the initial level and coupon barriers at 75%.

The estimated value on the pricing date is approximately $958 per security. All payments are subject to Morgan Stanley’s credit risk, the securities do not guarantee return of principal, and investors do not participate in any appreciation of the underliers.