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 structured, principal‑at‑risk notes due December 16, 2027 that are fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and delivers either the stated principal, the stated principal plus a fixed $145 upside payment, or a principal loss tied to the worst performing underlier (Nasdaq‑100, Russell 2000, S&P 500) measured on the observation date December 13, 2027. The securities pay no interest, have no minimum payment at maturity, and their estimated value on the pricing date was approximately $986 per security; all payments are subject to issuer credit risk.
Morgan Stanley Finance LLC priced contingent income auto-callable notes linked to the worst performing of NVDA, AMZN and TSLA. Each note has a stated principal amount of $1,000, a contingent coupon at an annual rate of 6.90% per annum payable monthly only if each underlier meets its coupon barrier on observation dates. The notes mature on June 22, 2029 (final observation date June 18, 2029) and are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley. The issuer’s estimated note value on the pricing date was approximately $962.60 per note. All payments are subject to the credit risk of MSFL and Morgan Stanley; the notes are not listed.
Morgan Stanley Finance LLC offers Buffered PLUS principal-at-risk securities due June 28, 2029, fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000, a leverage factor of 150%, a 5% buffer and a maximum payment at maturity of $1,471. The strike and pricing dates are June 24, 2026, the observation date is June 25, 2029, and the estimated value on the pricing date is approximately $978.20 per security. Payment at maturity depends on the basket’s final level: investors receive leveraged upside up to the maximum, full principal if losses are within the buffer, or a proportional loss beyond the buffer, subject to a 5% minimum payment.
Morgan Stanley Finance LLC (guaranteed by Morgan Stanley) is offering principal-at-risk callable contingent income buffered securities linked to the worst performing of the Russell 2000 and S&P 500. Each security has a $1,000 stated principal amount, an original issue price of $1,000, and a contingent coupon of 6.55% per annum payable only if both underliers meet coupon barrier levels on observation dates. The securities include a 15% buffer and a 15% minimum payment at maturity, a call feature driven by a risk neutral valuation model, and maturity on June 30, 2031. The estimated value on the pricing date is approximately $941.40 per security. All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC is offering principal-at-risk, contingent-income, auto-callable notes due June 13, 2029 linked to the worst performing of AppLovin (APP), Microsoft (MSFT) and Shopify (SHOP). The notes have a stated principal amount of $1,000 per security, a contingent annual coupon rate of 21.90%, automatic early redemption beginning with the first redemption determination date on June 14, 2027, and a maturity determined by the final observation date on June 8, 2029.
The contingent coupon is payable only if each underlier’s closing level is at or above its coupon barrier (60% of initial level) on an observation date; unpaid coupons may be paid later only if paid on a subsequent observation date meeting the same condition. If not auto-redeemed, principal repayment at maturity depends on underlier performance versus downside thresholds (60% of initial level): full principal is paid only if conditions are met, otherwise payment equals principal multiplied by the performance factor of the worst performing underlier, and could be significantly less or zero. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC offers structured, principal-at-risk, auto-callable notes fully and unconditionally guaranteed by Morgan Stanley linked to the worst performing of the EURO STOXX® Banks Index, the State Street® Energy Select Sector SPDR® ETF and the VanEck® Semiconductor ETF. Each security has a stated principal amount of $1,000, an original issue price of $1,000 and an estimated value on the pricing date of approximately $963.40. The notes mature on June 28, 2029 with a final determination date of June 25, 2029. Automatic early redemption may occur on scheduled determination dates beginning with June 28, 2027, when fixed early redemption payments range from $1,400 to $2,000. If not redeemed early, payment at maturity can be $2,200, the stated principal, or an amount tied to the performance of the worst performing underlier (potentially resulting in a loss of principal).
Morgan Stanley Finance LLC priced principal-at-risk buffered jump securities due July 14, 2027. Each $1,000 security offers a fixed upside payment of $138.50 (13.85%) if the worst performing of the Nasdaq-100 Technology, Russell 2000 and S&P 500 indices finishes at or above its 85% buffer on the observation date. If the worst performing underlier finishes below its buffer level (15% downside buffer), investors lose 1% for each 1% decline beyond that buffer, subject to a minimum payment of 15% of principal. Key dates: strike date June 9, 2026; pricing date June 11, 2026; issue date June 16, 2026; observation date July 9, 2027; maturity date July 14, 2027. All payments are subject to MSFL and Morgan Stanley credit risk and U.S. federal tax treatment is described as uncertain.
Morgan Stanley Finance LLC (guaranteed by Morgan Stanley) prices Principal at Risk structured notes linked to the worst performing of the Dow Jones Industrial Average, the Nasdaq-100® Technology Sector and the Russell 2000® Index. The securities have a $1,000 stated principal amount, an $114 upside payment (11.40%) and a 20% buffer; the minimum payment at maturity is 20% of principal. The pricing and strike date are June 17, 2026, the observation date is July 19, 2027 and maturity is July 22, 2027. Estimated value on the pricing date is approximately $982.70 per security. All payments are subject to the issuer’s and guarantor’s credit risk; if the worst performing underlier falls below its buffer, losses are 1% per 1% decline beyond the buffer, potentially resulting in significant principal loss.
Morgan Stanley Finance LLC issues a preliminary pricing supplement for fixed‑coupon, principal‑at‑risk notes fully and unconditionally guaranteed by Morgan Stanley. The securities pay a fixed coupon of 10.25% per annum monthly, have a stated principal amount of $1,000 per security, a pricing and strike date of June 30, 2026, an original issue date of July 6, 2026, an observation date of July 30, 2027 and maturity on August 4, 2027. Payment at maturity depends on daily monitoring of two underliers, the S&P 500® and the Russell 2000®, and is linked to the worst performing underlier: if a trigger event occurs and the final level of the worst performing underlier is below its initial level, principal is reduced pro rata (1% loss per 1% decline) and could be zero. The estimated value on the pricing date is approximately $984.70 per security. All payments are subject to issuer and guarantor credit risk.
The Issuer Morgan Stanley Finance LLC is offering Buffered PLUS principal-at-risk securities tied to the S&P 500® Futures Excess Return Index. Each security has a $1,000 stated principal amount, a 179% leverage factor on upside, an 80% buffer level (20% buffer amount) and a minimum payment at maturity of 20% of principal. Key dates: strike/pricing June 16, 2026, original issue June 22, 2026, observation June 16, 2031, maturity June 20, 2031. Estimated value on the pricing date is approximately $948.40 per security. The securities pay no interest, are unsecured obligations of MSFL and are unconditionally guaranteed by Morgan Stanley; all payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering structured Jump Notes due June 22, 2029 linked to the worst performing of Alphabet Inc. Class C, Meta Platforms Class A and NVIDIA common stock. Each note has a $1,000 stated principal amount and an issue price of $1,000 per note.
The notes pay no interest, are unsecured and fully guaranteed by Morgan Stanley, and are subject to Morgan Stanley's credit risk. They may be automatically redeemed on the first determination date June 22, 2027 for an early redemption payment of $1,208 per note if each underlier is at or above its call threshold. If not auto‑redeemed, maturity payoffs are based on the worst performing underlier with a 100% participation rate; if any underlier's final level is equal to or below its initial level, investors receive only the stated principal.
Morgan Stanley Finance LLC is offering Principal at Risk auto-callable securities linked to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index with a stated principal amount of $1,000 per security. The securities have a June 18, 2026 strike/pricing date, an original issue date of June 24, 2026 and a maturity date of June 24, 2031.
The securities pay a contingent coupon at an annual rate of 16.15% only if the underlier’s closing level meets the coupon barrier on observation dates. They are subject to automatic early redemption if the underlier meets the call threshold on a redemption determination date. At maturity, if the final level is below the downside threshold (60% of the initial level), principal is reduced pro rata by the underlier’s performance; downside risk could be total loss. The issuer estimates the securities’ value on the pricing date at approximately $952 per security.
Morgan Stanley Finance LLC is offering callable, principal‑at‑risk notes due May 18, 2028 linked to the worst performing of the Nasdaq‑100, Russell 2000 and the State Street SPDR S&P Regional Banking ETF. The notes have a stated principal amount of $1,000 per security and an original issue price of $1,000. They pay a contingent coupon at an annual rate of 11.00% only if each underlier’s closing level meets or exceeds its 70% coupon barrier on an observation date; the downside threshold is 60%. The issuer may call the notes on scheduled redemption dates beginning September 18, 2026 based on the output of a risk neutral valuation model. If not redeemed and the worst performing underlier finishes below its downside threshold, principal is reduced proportionately to that underlier’s performance and could be zero. The estimated value on the pricing date is approximately $963.20 per security. All payments are subject to the credit risk of Morgan Stanley and the notes are unsecured obligations of MSFL, fully guaranteed by Morgan Stanley.
Morgan Stanley Finance LLC is offering principal-at-risk notes due July 22, 2027 that are fully guaranteed by Morgan Stanley and reference the worst performing of Alphabet Class C, Microsoft and NVIDIA common stock. Each security has a stated principal of $1,000 and an upside payment of $155 (a 15.50% return) payable at maturity if the worst performing underlier finishes at or above its buffer level (70% of initial level).
If the worst performing underlier finishes below its buffer level, investors lose 1% of principal for each 1% decline beyond the 30% buffer, subject to a minimum payment at maturity of 30% of stated principal. Key dates include strike/pricing on June 17, 2026, original issue on June 23, 2026, observation on July 19, 2027, and maturity on July 22, 2027. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering callable, principal-at-risk notes due June 23, 2028 linked to the worst performing of the Nasdaq-100® Equal Weighted, Russell 2000® and S&P 500® Futures Excess Return indices. Each security has a $1,000 stated principal amount and a contingent coupon of 10.15% per annum payable only if all underliers meet coupon barrier tests on observation dates. The notes include a 25% buffer and a 1.3333 downside factor, meaning losses at maturity are amplified for declines beyond the buffer. The issuer may call the notes on specified monthly redemption dates beginning July 22, 2026 if a risk neutral valuation model indicates redemption is economically rational. All payments are subject to Morgan Stanley Finance LLC and Morgan Stanley credit risk.
Morgan Stanley Finance LLC is offering contingent income auto-callable securities linked to Palantir Technologies Inc. Class A common stock. Each note has a stated principal amount of $1,000, an original issue date of June 17, 2026, and a maturity date of June 15, 2028. The securities pay a contingent coupon at an annual rate of 14.90% on coupon payment dates only if the underlier's closing level on the related observation date is at or above the coupon barrier level (60% of the initial level). The notes may be automatically redeemed early if the closing level on any redemption determination date is at or above the call threshold (85% of the initial level), in which case investors receive the stated principal plus the contingent coupon for that period. If not redeemed and the final level is below the downside threshold (60% of the initial level), the payment at maturity equals the stated principal multiplied by the final/initial performance factor and could be significantly less than principal or zero. The estimated value on the pricing date was approximately $964.30 per security. All payments are subject to MSFL and Morgan Stanley credit risk and the offering includes underwriting and structuring costs embedded in the issue price.
Morgan Stanley Finance LLC priced Principal-at-Risk PLUS securities due June 30, 2031, fully and unconditionally guaranteed by Morgan Stanley. The securities have a $1,000 stated principal amount per security and pay no interest. At maturity investors receive the stated principal plus a 150% leverage on positive performance of the Dow Jones Industrial Average, capped at a $1,636 maximum payment per security (163.60% of principal). If the index falls, investors lose 1% of principal for each 1% decline in the index and could lose their entire investment. The pricing date and strike date are June 25, 2026, with original issue and maturity dates of June 30, 2026 and June 30, 2031, respectively. The estimated value on the pricing date was approximately $946.20 per security.
Morgan Stanley Finance LLC is offering callable, principal‑at‑risk structured notes linked to the worst performing of the Dow Jones Industrial Average, the Russell 2000 Index and the State Street Technology Select Sector SPDR ETF. Each security has a stated principal amount of $1,000 and a contingent coupon at an annual rate of 14.00% payable only if each underlier closes at or above its coupon barrier on observation dates. The notes include a 20% buffer and a minimum payment at maturity of 20% of principal; if the worst performing underlier finishes below its buffer, investors lose 1% for each 1% decline beyond the buffer. The securities are callable beginning December 22, 2026 based on the output of a risk neutral valuation model. Estimated value on the pricing date was approximately $981.70 per security. All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC priced callable contingent income securities linked to the worst performing of the Nasdaq-100® Technology Sector, the Russell 2000® Index and the S&P 500® Index. Each note has a $1,000 stated principal amount, a contingent coupon rate of 11.75% per annum and a principal-at-risk payoff tied to the worst performing underlier. The notes may be redeemed early beginning December 23, 2026 based on the output of a risk neutral valuation model. If not redeemed, maturity is December 21, 2028; if the final level of any underlier is below its 60% downside threshold, investors suffer a loss proportional to the decline in the worst performing underlier. All payments are subject to Morgan Stanley and MSFL credit risk.
Morgan Stanley Finance LLC is offering Principal at Risk callable contingent-income buffered securities linked to the worst performing of the IWM Fund, the NDXT Index and the SPX Index. Each security has a $1,000 stated principal and may pay an 11.50% per annum contingent coupon on specified observation dates if every underlier meets its coupon barrier.
The securities feature a 20% buffer and a 1.25 downside factor at maturity: if the worst performing underlier closes below its buffer, investors lose 1.25% of principal for each 1% decline beyond the 20% buffer. The securities are callable starting July 14, 2026, mature on December 14, 2026, and all payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC issues a Preliminary Pricing Supplement for Principal-at-Risk notes linked to the worst performing of Rubrik, Inc. (RBRK) and Veeva Systems Inc. (VEEV). Each security has a stated principal amount of $1,000 and an upside payment of $263.50 (26.35% of principal) payable at maturity if both underliers finish at or above their downside thresholds. If either underlier finishes below its 70% downside threshold, the payment equals the stated principal multiplied by the worst performing underlier’s performance factor, and could be significantly less or zero. The securities pay no interest, are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley; all payments remain subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC offers Principal at Risk Buffered Participation Securities tied to the S&P 500® Index with a stated principal of $1,000 per security. The securities mature on September 14, 2027 with an observation date of September 9, 2027. Investors participate at a 100% participation rate up to a maximum payment of $1,117.50 (111.75%). A buffer equals 20% of the initial level (initial level 7,386.65; buffer level 5,909.32); losses beyond the buffer reduce principal dollar-for-dollar, subject to a minimum payment of 20% of principal. All payments are subject to MSFL and Morgan Stanley credit risk; estimated value on the pricing date is approximately $982.00.
Morgan Stanley Finance LLC is offering Buffered PLUS notes due July 14, 2027 linked to the S&P 500® Index. Each security has a stated principal amount of $1,000. The notes provide 150% leveraged upside on positive index performance capped at a $1,129.50 maximum payment and a 10% buffer against losses, with a minimum payment at maturity of 10% of principal. The initial level (closing on the strike date) is 7,386.65 and the buffer level is 6,647.985. The securities pay no interest, are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley. The estimated value on the pricing date is approximately $988.30 per security. All payments are subject to Morgan Stanley’s credit risk, and U.S. federal tax treatment is described as uncertain in the supplement.
Morgan Stanley Finance LLC prices Principal-at-Risk notes for $725,000 aggregate offering $1,000 principal per security, fully and unconditionally guaranteed by Morgan Stanley. The callable contingent income securities pay a contingent coupon at an annual rate of 11.00% only if each underlier meets its coupon barrier on observation dates.
The notes are linked to the worst performing of the Dow Jones Industrial Average, the iShares Expanded Tech-Software Sector ETF and the Russell 2000 Index. A 60% downside threshold applies to each underlier; if any underlier finishes below its threshold at maturity, principal is reduced pro rata to the worst-performing underlier and could be zero. The issuer may redeem early based on a risk neutral valuation model; all payments remain subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC priced Structured Investments Buffered Jump Securities—principal-at-risk notes linked to the S&P 500® Index with automatic early redemption and a 15% buffer. Each security has a stated principal amount of $1,000; aggregate principal $39,085,000. The initial level was 7,405.73 (strike date June 8, 2026), call threshold is 90% of that level and buffer is 85%. If a determination date meets the call threshold the notes auto-redeem for a rising fixed early redemption payment (first determination date June 15, 2027); otherwise maturity outcomes range from full principal to a leveraged loss equal to 1.1765% per 1% decline beyond the buffer. All payments are subject to issuer credit risk and the estimated value on pricing date was $992.40 per security.
Morgan Stanley Finance LLC offers Principal at Risk Securities backed by a full guarantee of Morgan Stanley with an aggregate principal amount of $250,000 (100 securities at $1,000 each). The securities mature on June 13, 2029, pay a contingent coupon at an annual rate of 15.50% only when the underlier closes at or above the coupon barrier, and are automatically redeemed early if the underlier closes at or above the call threshold on any redemption determination date.
The underlier is Cognizant Technology Solutions Corporation Class A common stock with an initial level and call threshold of $52.99, a coupon barrier and downside threshold of $31.794 (60% of the initial level), an estimated value on the pricing date of $950.00 per security, and an agent sales commission of $28.50 per security.
Morgan Stanley Finance LLC priced a primary offering of Principal-at-Risk callable contingent income securities with an aggregate principal amount of $1,031,000, fully and unconditionally guaranteed by Morgan Stanley. The securities have a stated principal amount of $1,000 per security and an estimated value on the pricing date of $971.40 per security. They pay a contingent coupon at an annual rate of 12.50% on each coupon payment date only if the closing level of each underlier meets its coupon barrier level on the related observation date. The securities may be redeemed early on specified redemption dates beginning September 11, 2026 if a risk neutral valuation model indicates redemption is economically rational; otherwise, at maturity holders receive principal only if each underlier is at or above its downside threshold level, and may lose principal in proportion to the worst performing underlier.
Morgan Stanley Finance LLC priced a primary offering of Contingent Income Auto-Callable Securities due March 2, 2028, fully and unconditionally guaranteed by Morgan Stanley, with an aggregate principal amount of $1,000,000 (issued at $1,000 per security).
The notes pay a contingent coupon of 12.80% per annum on specified observation dates if the basket closing level meets the coupon barrier (70% of initial), feature automatic early redemption if the basket equals or exceeds a call threshold (90% of initial) on redemption determination dates, and expose investors to downside loss at maturity if the final level is below the downside threshold (60% of initial). The estimated value on the pricing date was $950.30 per security; the issue price is $1,000, of which $18.75 per security is agent commission. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC priced a market‑linked, principal‑at‑risk note linked to Super Micro Computer, Inc. stock due June 14, 2029. Each security has a face amount of $1,000, a contingent coupon rate to be set at least at 24.80% per annum, monthly observation dates beginning July 2026, an automatic call feature after a three‑month non‑call period, and downside exposure if the ending stock price is below 45% of the starting price.
The estimated value on the pricing date is approximately $957.70 per security (within $30.00). The public offering price is $1,000 per security, agent commissions up to $23.25, and estimated proceeds to the issuer of $976.75 per security. All payments are subject to Morgan Stanley's credit risk; the securities do not pay fixed interest and do not provide upside participation in the underlying stock.
Morgan Stanley Finance LLC is offering Principal at Risk Structured Investments—Contingent Income Buffered Auto-Callable Securities due May 2, 2029, fully guaranteed by Morgan Stanley. The securities are issued in $1,000 denominations with an aggregate principal amount of $617,000 and an estimated value on the pricing date of $903.00 per security.
The notes pay a 20.00% annual contingent coupon only if each underlying stock meets its coupon barrier on observation dates, feature automatic early redemption if all underliers meet 100% call thresholds on a redemption determination date, and protect investors with an 80% buffer (minimum payment at maturity of 20% of principal). All payments are subject to Morgan Stanley's credit risk.
The issuer, Morgan Stanley Finance LLC, amends Pricing Supplement No. 15,407 for a structured note offering: Dual Directional Enhanced Buffered Jump Securities linked to the S&P 500® Index with an aggregate principal amount of $767,000. The notes have a $1,000 stated principal amount per security and mature on July 14, 2027. The terms include a digital payment of $61.50 per security (6.15%) payable if the final level is at or above a digital threshold, an absolute return participation rate of 100%, an initial level of 7,165.08, a buffer level at 80% (5,732.064), a digital threshold at ~93.85% (6,724.428) and a minimum payment at maturity of 20% of stated principal. The securities are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley, do not pay interest, and expose investors to credit risk and potential loss of principal beyond the buffer.
Morgan Stanley Finance LLC is offering Buffered Jump Securities fully and unconditionally guaranteed by Morgan Stanley, linked to the worst performing of the Russell 2000® Index and the iShares® MSCI EAFE ETF. The offering registers an aggregate principal amount of $9,394,000 at a stated principal amount of $1,000 per security.
The securities have a 20% buffer and a 1.25 downside factor; they can auto‑redeem on scheduled determination dates for fixed early redemption payments ($1,085.75 on October 19, 2026 and $1,171.50 on April 26, 2027), or pay at maturity on October 19, 2027. If neither underlier falls below its buffer, investors receive principal or a fixed positive payment; if the worst performing underlier falls below the buffer, losses are amplified and principal may be lost. All payments are subject to the issuer and guarantor credit risk.
Morgan Stanley is offering £1,000,000,000 of Global Medium-Term Notes, Series J, Pounds Sterling Fixed/Floating Rate Senior Registered Notes due September 10, 2032. The notes pay 5.432% per annum during a Fixed Rate Period to September 10, 2031, then convert to a SONIA-linked floating rate plus a 1.147% spread through maturity.
The notes settle on June 11, 2026 and carry make-whole and optional redemption features beginning December 14, 2026 and specified call dates in 2031 and June 10, 2032. The pricing supplement discloses SONIA-related calculation, tax treatment under U.S. rules, underwriting allocations, and distribution conflicts of interest.
Morgan Stanley is offering €1,500,000,000 principal amount of Global Medium-Term Notes, Series J, Euro Fixed/Floating Rate Senior Registered Notes due June 11, 2030. The notes pay 3.485% per annum through June 11, 2029, then reset to EURIBOR + 0.699% quarterly until maturity.
The notes are callable under an optional make-whole redemption (on or after December 14, 2026) and at par on specified dates, will be admitted for listing subject to FCA and LSE approval, and are intended to be Eurosystem eligible.
Morgan Stanley Finance LLC is offering Trigger PLUS principal-at-risk notes linked to a four-index basket with a $1,000 stated principal per security and an aggregate principal amount of $6,000,000. The securities pay no interest, mature on June 10, 2031, and return either the stated principal or a leveraged upside or a reduced principal depending on the basket final level on the observation date.
At maturity the payout is: stated principal plus 112.50% of appreciation if the final level is above the initial level; stated principal if final level is between the initial level and the downside threshold of 65; and stated principal multiplied by the performance factor if final level is below the downside threshold (investors may lose up to 100% of principal). All payments are subject to MSFL's and Morgan Stanley's credit risk.
Morgan Stanley Finance LLC is offering Structured Investments — Enhanced Trigger Jump Securities due July 9, 2027 — unsecured notes fully and unconditionally guaranteed by Morgan Stanley. The offering registers an aggregate principal amount of $682,000 at an issue price of $1,000 per security.
The securities pay no interest and the maturity payoff 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 60% downside threshold, holders receive the stated principal plus a fixed $89 upside payment. If the worst performing underlier is below its 60% threshold, holders suffer an equal percentage loss of principal (1% loss of principal per 1% index decline), with no minimum payment. All payments are subject to the issuer’s and guarantor’s credit risk.
Morgan Stanley Finance LLC priced a $3,582,000 offering of Structured Investments — Dual Directional Buffered Jump Securities due June 8, 2029 backed by a full guarantee of Morgan Stanley. The securities have a $1,000 stated principal amount and were issued at $1,000 per security.
The notes reference the S&P 500® Index, provide a fixed $192 upside payment if the final level is at or above the initial level, an absolute-return participation feature of 400% for declines down to an 80% buffer, a 20% buffer level (initial level 7,383.74; buffer 5,906.992), and a minimum payment at maturity equal to 20% of principal. All payments are subject to issuer credit risk and U.S. federal tax treatment is described as uncertain.
Morgan Stanley Finance LLC offers Structured Investments — Buffered Participation Securities fully and unconditionally guaranteed by Morgan Stanley, registering an aggregate principal amount of $1,406,000 at a stated principal amount of $1,000 per security. The securities issue on June 10, 2026 with an observation date of December 4, 2026 and maturity on December 9, 2026. Investors receive 100% participation in upside subject to a $1,295 maximum payment (129.50% of principal). A 10% buffer applies: final levels at or above 90 return principal; below 90, losses apply at a 1.1111 downside factor (1.1111% loss per 1% decline beyond the buffer). The estimated value on the pricing date was $979.60 per security and the offering price was $1,000 per security. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC priced market-linked, auto-callable principal-at-risk securities linked to Super Micro Computer, Inc. (SMCI) with a 24.05% per annum contingent coupon and a June 8, 2029 maturity. Each security has a face amount of $1,000, an estimated value at issuance of $963.70, and pays coupons monthly only if the stock closing price on monthly calculation days meets the coupon threshold of $18.738 (45% of the $41.64 starting price).
The notes include a three-month non-call period, thereafter monthly automatic-call opportunity if the stock meets a call threshold of $35.394 (85% of the starting price). If not called, principal at maturity is $1,000 if the ending price is at or above the downside threshold of $18.738; otherwise payment is reduced by the performance factor and investors may lose more than 55% (possibly all) of principal. All payments are subject to Morgan Stanley credit risk. Distribution arrangements and underwriting fees are shown on the cover.
Morgan Stanley Finance LLC offers Jump Securities with Auto-Callable Feature due June 8, 2028 under a June 2026 pricing supplement backed by a $1,040,000 aggregate principal issuance. The securities are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley.
The securities reference the common stock of Advanced Micro Devices, Inc. (initial share price $466.38) and Marvell Technology, Inc. (initial share price $263.47). Beginning after a one-year non-call period, monthly determination dates can trigger automatic redemption for preset early redemption payments. If not called, maturity payoffs depend on the worst-performing underlying stock: investors receive $2,250.16 at maturity if both final share prices are ≥60% of their initial prices; otherwise the maturity payment equals $1,000 × share performance factor of the worst performing underlying stock, which could result in a loss of most or all principal.
Morgan Stanley Finance LLC priced a callable, principal-at-risk note program totaling $1,850,000 of Structured Investments — Callable Contingent Income Securities due December 9, 2027. Each security has a stated principal amount of $1,000, an issue price of $1,000, and an estimated value on the pricing date of $989.20.
The securities pay a contingent coupon at an annual rate of 12.90% only when the closing level of both underliers (the Russell 2000® and the S&P 500®) are at or above their coupon barrier levels on observation dates. Coupon barrier and downside threshold levels are set at 75% of each index’s initial level. If a trigger event occurs, investors are exposed to the negative performance of the worst performing underlier and may lose up to their entire principal. The notes are callable based on the output of a risk neutral valuation model and are unsecured obligations guaranteed by Morgan Stanley.
Morgan Stanley Finance LLC priced a series of Principal at Risk Securities linked to the S&P 500® Index. The offering totals $850,000 in aggregate principal at a $1,000 stated principal amount per security and has a stated maturity of June 22, 2027.
At maturity the notes pay a fixed upside payment of $84.50 (8.45%) if the final level is at or above the downside threshold (80% of the initial level). If the final level is below that threshold, investors bear losses pro rata (1% loss in principal per 1% decline in the index) and could lose their entire investment. All payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC priced Principal at Risk notes linked to the worst performing of the Nasdaq-100, Russell 2000 and S&P 500. The securities have a $1,000 stated principal amount, an original issue price of $1,000 and maturity on December 9, 2027. Investors receive a fixed $141.50 upside payment (14.15%) if the worst performing underlier is at or above 70% of its initial level on the observation date; if all underliers finish at or above 60% but below 70% of initial levels, investors receive only principal; if the worst performing underlier finishes below 60% of its initial level, investors lose principal on a 1% per 1% decline basis, with no minimum payment. Payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley and are subject to issuer credit risk. Estimated value on the pricing date was $983.30 per security; aggregate principal offered was $1,415,000.
The pricing supplement describes Morgan Stanley Finance LLC notes, fully guaranteed by Morgan Stanley, linked to the S&P 500® Index with $1,000 stated principal per security and an aggregate offering of $673,000. The securities mature on June 9, 2033 with an observation date of June 6, 2033. If the final level is at or above the 10% buffer, holders receive the stated principal plus a fixed $710 upside payment. If the final level is below the buffer, investors lose 1% for each 1% decline beyond the buffer, subject to a 10% minimum payment at maturity. Estimated value on the pricing date was $959.60. Sales are to fee-based advisory accounts; MS & Co. expects to sell securities at $1,000 to the public with proceeds to issuer of $992 per security.
Morgan Stanley priced $50,000,000 of Fixed Rate Notes due August 10, 2027 with an interest rate of 4.375% per annum, issued at $1,000 per note and original issue date June 10, 2026. All payments are subject to the credit risk of Morgan Stanley.
The notes pay interest in arrears on August 10, 2027, use a 30/360 (Bond Basis) day-count convention, will not be listed on an exchange, and include stated accrual of original issue discount per note across specified accrual periods.
The pricing supplement details a primary offering of Principal at Risk notes issued by Morgan Stanley Finance LLC, fully guaranteed by Morgan Stanley, with an original issue price of $1,000 per security and an aggregate principal amount of $385,000. The securities pay a contingent coupon at an annual rate of 13.15% only if the underlier meets the coupon barrier on observation dates and are subject to automatic early redemption if the underlier meets the call threshold on redemption determination dates. The underlier is the S&P® 500 Futures 40% Intraday 4% Decrement VT Index with an initial level of 3,427.42 (strike date). Coupon barrier is 2,399.194 (70% of initial) and downside threshold is 2,056.452 (60% of initial). If not redeemed and the final level is below the downside threshold, investors suffer principal loss equal to the underlier decline (payment = stated principal × performance factor). Maturity date is June 10, 2031. The estimated value on pricing date was $903.20 and the agent’s commission was $32.50 per security.
Morgan Stanley Finance LLC priced Principal-at-Risk Buffered Participation Securities linked to the S&P 500® Index. The securities were issued at a $1,000 stated principal amount per security with an aggregate principal amount of $465,000. The observation date is June 11, 2027 and the maturity date is June 16, 2027. The securities pay no interest and are fully and unconditionally guaranteed by Morgan Stanley, so all payments are subject to Morgan Stanley’s credit risk. Payouts: 100% participation in positive index performance subject to a $1,093 maximum payment (109.30%), a 20% buffer (buffer level = 80% of initial level), and a minimum payment of 20% of stated principal. The initial level is 7,383.74 (closing level on June 5, 2026). These securities expose investors to potential significant principal loss if the final level is below the buffer and limit upside above the stated maximum.
The issuer Morgan Stanley Finance LLC is offering Contingent Income Auto-Callable Securities due June 8, 2029, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an aggregate principal amount of $5,002,000. The securities pay a contingent quarterly coupon at an annual rate of 21.25% only for determination dates when the underlying MongoDB, Inc. closing price is at or above the downside threshold of $175.37 (50% of the initial share price of $350.74). If any of the first eleven determination dates have a closing price at or above the initial share price, the securities are automatically redeemed early for principal plus accrued contingent coupons. If not redeemed, and the final share price is below the downside threshold, payment at maturity will be the stated principal multiplied by the share performance factor and could be less than 50% of principal or zero. Estimated value on the pricing date was $950.00 per security. All payments are subject to the issuer’s and guarantor’s credit risk.
Morgan Stanley Finance LLC priced a primary offering of structured, market-linked notes due June 10, 2030, with an aggregate principal amount of $500,000 and a stated principal amount of $1,000 per note. The notes pay no interest, provide a 100% participation rate in positive performance of the S&P 500® Futures Excess Return Index (initial level 593.95), and repay the stated principal at maturity if the final level is equal to or below the initial level.
The issue price is $1,000 per note (estimated value on the pricing date $950.90), with a dealer sales commission of $36.50 per note and proceeds to MSFL of $963.50 per note after commissions. All payments are unsecured and subject to Morgan Stanley's credit risk; the notes will not be listed on an exchange.
Morgan Stanley Finance LLC priced Principal at Risk Dual Directional Buffered Participation Securities linked to the S&P 500 Index. The securities have a $1,000 stated principal amount, were issued at $1,000 each and total $1,736,000. They mature on July 9, 2027 with an observation date of July 6, 2027. Payments at maturity vary by index performance: full upside participation is 100% but capped at $1,075 (107.50%); a 20% buffer protects limited declines, an absolute return feature pays up to +20%, and losses beyond the buffer reduce principal dollar-for-dollar to a minimum payment of 20% of principal. All payments are unsecured and subject to Morgan Stanley credit risk.