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 contingent income memory securities due June 27, 2030. The securities have a stated principal amount of $1,000 per security and a contingent coupon of 10.10% per annum payable only if each of three underliers meets an 80% coupon barrier on observation dates. At maturity investors receive par if each final level is at or above a 70% downside threshold; otherwise repayment equals par multiplied by the performance factor of the worst performing underlier, exposing holders to substantial or total principal loss. The document reports an estimated value on the pricing date of approximately $974.60 per security and notes all payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC offers Principal at Risk structured notes linked to the worst performing common stock of The Home Depot, Intercontinental Exchange and Johnson & Johnson. The notes have a stated principal amount of $1,000 per security, an original issue price of $1,000, a participation rate of 150% and a stated early redemption payment of $1,640 on the first early determination date. Automatic early redemption is determined on June 16, 2027; final determination and maturity dates are tied to the closing levels on June 12, 2029 and maturity is June 15, 2029. Payments depend on the worst performing underlier; losses may be up to the full principal if the worst performing underlier falls below its 50% downside threshold. All payments are subject to MSFL and Morgan Stanley credit risk.
Morgan Stanley Finance LLC offers Structured Investments Jump Securities with an auto-callable feature due December 14, 2027, fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an original issue price of $1,000. The securities may be automatically redeemed on the first determination date for an early redemption payment of $1,152 if every underlier meets its call threshold. At maturity holders either receive principal plus an upside payment (participation rate 150% of the worst performing underlier’s gain), principal only, or a reduced payment tied to the worst performing underlier (losses of 1% per 1% decline below the 70% downside threshold). Estimated value on the pricing date is approximately $966.20 per security. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering auto-callable, principal-at-risk structured notes due June 22, 2029, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an original issue price of $1,000. The notes reference the Dow Jones Industrial Average, the Nasdaq-100 and the Russell 2000 and are linked to the worst performing underlier. If all three underliers meet or exceed their call thresholds on the first determination date (June 23, 2027), the securities will auto-redeem for an early redemption payment of $1,225. If not auto-redeemed, maturity payoff depends on the worst performing underlier: investors can receive the stated principal plus an upside payment (participation rate 175%), the stated principal only, or suffer losses down to zero if the worst performing underlier falls below its downside threshold (70% of initial level). All payments are subject to Morgan Stanley’s credit risk. The document reports an estimated value on the pricing date of approximately $966.60 per security.
Morgan Stanley Finance LLC offers structured, principal‑at‑risk Buffered Participation Securities linked to a basket of transportation stocks with a 5% buffer and a 1.0526 downside factor.
Each note has a $1,000 stated principal amount and $1,000 issue price, pays no interest, participates 100% in upside subject to a $1,251 maximum payment, and matures on December 10, 2026. Payments are subject to Morgan Stanley Finance LLC credit risk and are fully guaranteed by Morgan Stanley.
Morgan Stanley Finance LLC is offering callable, principal-at-risk structured securities due March 10, 2027 that are 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 $990.30.
The securities pay a contingent coupon of 11.50% per annum on each coupon payment date only if the closing level of each underlier is at or above its coupon barrier on the related observation date. The securities are linked to the worst performing of the Russell 2000®, S&P 500® and XLI ETF, use a 17% buffer and a downside factor of 1.2048 to determine losses at maturity. A model-based call feature may redeem securities beginning July 9, 2026. All payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is offering structured notes called Buffered PLUS with Downside Factor due June 14, 2029, fully and unconditionally guaranteed by Morgan Stanley. Each note has a $1,000 stated principal amount and returns are determined by the worst performing of three underliers.
Payments at maturity follow three scenarios: full leveraged upside (540% of the worst underlier’s appreciation), return of principal if the worst underlier remains within a 15% buffer, or a leveraged loss equal to 1.1765% of principal per 1% decline beyond the buffer. There is no minimum payment and all payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC prices a structured, principal-at-risk note offering fully guaranteed by Morgan Stanley consisting of Jump Securities with an auto-callable feature tied to the worst performing of the Dow Jones Industrial Average, the S&P 500 and the Russell 2000. 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 $951.50. The securities may be automatically redeemed on scheduled determination dates beginning June 11, 2027 for specified early redemption payments; if not redeemed, maturity is June 9, 2031. Payoff depends on the worst performing underlier versus its call and downside threshold levels (call = 100% of initial level; downside = 70% of initial level). Investors bear principal risk and Morgan Stanley credit risk; the offering proceeds and agent commissions are disclosed.
Morgan Stanley Finance LLC is offering structured, principal-at-risk notes: Buffered Jump Securities linked to the S&P 500® Index with an automatic early‑call feature and a downside buffer. Each security has a stated principal amount of $1,000, an estimated value on the pricing date of approximately $992.60, a strike/pricing date of June 8, 2026 and a final determination date of June 9, 2031 with maturity on June 12, 2031.
The notes pay a fixed early redemption payment if, on a determination date (first: June 15, 2027), the closing level of the underlier is ≥ the call threshold (set at 90% of the initial level). A buffer at 85% of the initial level (buffer amount 15%) limits losses up to that point; below the buffer investors lose 1.1765% of principal for every 1% decline beyond the buffer. The specified early redemption payments and a maturity payment of $1,422.50 (if final level ≥ call threshold) are shown in the supplement. All payments are subject to MSFL’s and Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC priced $29,160,000 of Digital EURO STOXX 50® Index‑Linked Notes due August 9, 2027. The notes (Face Amount $1,000 each) are unsecured obligations of MSFL, fully guaranteed by Morgan Stanley, pay no interest and provide a capped upside of $1,119.00 per $1,000 face amount if the Final Underlier Level is at or above 5,497.065 (90% of the Initial Underlier Level).
Payment at maturity depends solely on the EURO STOXX 50® Index performance from the Strike Date (June 2, 2026) to the Determination Date (August 5, 2027). The Trade Date was June 4, 2026 and the estimated value on the Trade Date was $987.80 per note. All payments are subject to issuer credit risk.
Morgan Stanley Finance LLC priced $4,849,000 of Digital S&P 500® Index-Linked Notes due August 17, 2027, guaranteed by Morgan Stanley. Each $1,000 Face Amount pays $1,102.30 at maturity if the S&P 500 closes at or above 90% of the initial level; if below 90% the payout declines and you could lose some or all principal. The Trade Date was June 4, 2026, Original Issue Date June 9, 2026, and Determination Date August 13, 2027. The issuer estimates the Trade Date value as $983.90 per note and the agent commission is $12 per note. All payments are subject to issuer credit risk and the notes are unsecured and non‑listed.
Morgan Stanley Finance LLC is offering $24,976,000 of Digital S&P 500® Index-Linked Notes due November 10, 2027, fully and unconditionally guaranteed by Morgan Stanley. Each note has a Face Amount of $1,000. The Trade Date is June 4, 2026 and the Original Issue Date is June 9, 2026.
Payment at maturity depends on the S&P 500® Index performance from the Initial Underlier Level of 7,584.31 to the Final Underlier Level on the Determination Date (November 8, 2027). If the Final Underlier Level is >= 90% of the Initial Underlier Level, each note pays the Maximum Settlement Amount of $1,141.70 (114.17% of Face Amount). If the Final Underlier Level is < 90% of the Initial Underlier Level, the Cash Settlement Amount will be a formulaic decline (you may lose some or all principal).
Morgan Stanley is offering Global Medium-Term Notes, Series J, Pounds Sterling fixed/floating rate senior registered notes due 2032. The notes will be issued in June 2026 (T+3) and convert from a fixed rate period to a SONIA-linked floating rate period beginning in September 2031. The notes pay principal at 100% at maturity and have minimum denominations of £100,000. The issuer may redeem the notes under make-whole and optional redemption provisions during specified windows, and SONIA compounding, tax and early-redemption mechanics apply.
Morgan Stanley is offering Global Medium‑Term Notes, Series J, Euro denominated senior notes due June , 2030 with a fixed rate period followed by a floating rate period. The notes include an optional make‑whole redemption, are intended to be Eurosystem eligible, and have a minimum denomination of €100,000. Interest during the fixed period is a stated fixed rate and thereafter resets quarterly to EURIBOR plus a spread. The pricing supplement references a German government bond (ISIN DE000BU25026, 2.10%, maturing 12 April 2029) for make‑whole calculations. The offering is subject to final pricing supplement delivery, regulatory approvals for listing and trading, and distribution restrictions in the EEA and UK.
Morgan Stanley priced $50,000,000 aggregate Fixed Rate Notes due August 9, 2027. The notes were offered at an issue price of $1,000 per note with an estimated value on the pricing date of $997.60 per note. Interest accrues from June 8, 2026 to but excluding maturity at an annual rate of 4.32% payable at maturity. Commissions of $0.30 per note reduce proceeds; net proceeds to the issuer totaled $49,985,000. Payments are subject to Morgan Stanley credit risk, the notes will not be listed, and the proceeds are for general corporate purposes.
Morgan Stanley Finance LLC priced Principal at Risk securities linked to the S&P 500® Futures Excess Return Index. Each note has a $1,000 stated principal amount, a June 30, 2031 maturity and an initial/pricing date of June 25, 2026. The notes offer a 15% buffer and a 200% participation rate on upside; the minimum payment at maturity is 15% of principal. If the final level is below the buffer, investors lose 1% for every 1% decline beyond the buffer. The securities are callable beginning on July 7, 2027 based on a risk neutral valuation model and list fixed redemption payments for specific dates. The estimated value on the pricing date was approximately $926.30 per security. All payments are subject to MSFL and Morgan Stanley credit risk.
Morgan Stanley Finance LLC is offering $1,500,000 of contingent-income, principal‑at‑risk notes due June 18, 2027, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an issue price of $1,000. The notes pay a contingent coupon at an annual rate of $12.64% (payable only if the closing level of the underlying stock meets the coupon barrier on observation dates) and feature automatic early redemption if the underlier meets the call threshold on specified redemption determination dates. At maturity, if not called, investors receive principal only if the final level is at or above the downside threshold; otherwise the payment equals the stated principal multiplied by the performance factor and could be significantly less or zero. The offering’s estimated value on the pricing date was $988.20 per security. All payments are subject to Morgan Stanley’s credit risk, and the notes do not participate in any appreciation of the underlying stock.
Morgan Stanley Finance LLC priced a contingent income, principal-at-risk note due June 6, 2031 with a $1,000 stated principal amount per security and an aggregate issuance of $700,000. The notes pay a 16.00% annual contingent coupon only if the S&P® 500 Futures 40% Intraday 4% Decrement VT Index (the underlier) closes at or above the coupon barrier on observation dates. The notes redeem early if the underlier equals or exceeds the call threshold (3,756.69) on redemption determination dates; otherwise maturity payments depend on the final level relative to the downside threshold (2,254.014), with losses of 1% per 1% decline below that level. Estimated value on the pricing date was $947.00 per security and all payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC issued a principal at risk structured note linked to the SPDR S&P 500 ETF Trust (SPY) with a stated principal of $1,000 per security. The notes pay no interest, are unsecured obligations of MSFL and are fully guaranteed by Morgan Stanley. They feature automatic early redemption on specified determination dates if the underlier meets the call threshold level, fixed early redemption payments (about 9.25% per annum equivalent), a participation rate of 150% and downside exposure below a 70% trigger of the initial level, including possible loss of principal to zero.
The issuer Morgan Stanley Finance LLC, guaranteed by Morgan Stanley, is offering principal-at-risk callable contingent income securities with a $1,000 stated principal per security and an aggregate principal amount of $1,335,000. The securities pay a contingent coupon of 11.75% per annum on each coupon payment date only if the closing level of each underlier meets or exceeds its coupon barrier on the related observation date. The notes are linked to the worst performing of the Dow Jones Industrial Average, the Nasdaq-100® Technology Sector and the S&P 500® Index, use a 70% coupon barrier/downside threshold, and may be redeemed early at MSFL’s option based on the output of a risk neutral valuation model. All payments are subject to MSFL’s and Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC priced a $2,491,000 offering of Structured Investments — Principal at Risk notes due June 7, 2029, fully and unconditionally guaranteed by Morgan Stanley. The notes have a stated principal amount of $1,000 per security and an issue price of $1,000.
The securities offer automatic early redemption on scheduled determination dates beginning June 10, 2027 if each underlier meets its call threshold, with fixed early redemption payments that rise across four potential call dates. If not called, maturity payoffs depend on the worst performing underlier (IGV, GDX, TLT): investors can receive a fixed positive payment, the stated principal, or a reduced payment proportional to the worst underlier’s decline (potentially zero). All payments are subject to issuer credit risk.
Morgan Stanley Finance LLC priced $500,000 aggregate principal of Contingent Income Auto-Callable Securities due December 8, 2027 with a 1-year initial non-call period. Each $1,000 security pays a contingent semi-annual coupon at an annual rate of 19.80% only if both underlying stocks (Boeing and United Airlines) close at or above 65% of their initial share prices on observation dates. The securities are automatically redeemed early if both underliers close at or above 100% of their initial share prices on a redemption determination date beginning June 3, 2027. At maturity, if the final share price of either underlying is below its 65% downside threshold, holders suffer a loss equal to the 1:1 decline in the worst performing underlying and may lose all principal. Payments are obligations of MSFL and are fully guaranteed by Morgan Stanley; all payments remain subject to issuer credit risk.
Morgan Stanley Finance LLC is offering structured, principal‑at‑risk buffered participation securities due June 6, 2031 with an aggregate principal amount of $582,000. The notes pay no interest, feature a 103% leverage factor and a 15% buffer, and are guaranteed by Morgan Stanley.
At maturity the payment is based solely on the basket performance factor measured on the observation date June 3, 2031: positive performance yields the stated principal plus a leveraged upside, modest declines within the 15% buffer return principal, and larger declines produce proportional losses subject to a 15% minimum payment of principal.
Morgan Stanley Finance LLC is offering Principal-at-Risk, contingent-income auto-callable securities linked to Cleveland-Cliffs Inc. common stock, with a stated principal amount of $1,000 per security and an aggregate principal amount of $750,000. The securities mature on June 8, 2028 and can be automatically redeemed early beginning after the first redemption determination date of June 3, 2027.
The securities pay a contingent coupon at an annual rate of 23.00% only if the closing level of the underlier on each observation date is at or above the coupon barrier of $7.075 (50% of the initial level). The initial and call threshold level is $14.15. If not called and the final level is below the downside threshold of $7.075, holders will receive the stated principal multiplied by the performance factor (final level / initial level) and may lose a substantial portion or all of principal. The estimated value on the pricing date was $943.30 per security; the price to public is $1,000 with agent commissions of $23.50 per security.
Morgan Stanley Finance LLC priced contingent-income, memory buffered, auto-callable notes issued June 8, 2026, guaranteed by Morgan Stanley. The notes have a stated principal of $1,000 per security and aggregate principal of $1,400,000, mature June 6, 2031, and reference the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index.
The securities pay a contingent coupon of 9.60% per annum on observation dates only if the underlier meets the coupon barrier level of 1,079.547 (70% of initial level). Automatic early redemption occurs if the underlier is at or above the call threshold of 1,418.833 (92% of initial level) on a redemption determination date. The initial level was 1,542.21, the buffer level is 1,310.879 (85% of initial), and the minimum payment at maturity is 15% of principal. The estimated value on the pricing date was $902.40 and the issue price was $1,000 per security.
Morgan Stanley Finance LLC is offering structured, non‑interest bearing Jump Notes linked to the common stock of NVIDIA Corporation. Each note has a stated principal of $1,000; at maturity on July 6, 2029 investors receive principal plus an upside payment of $314 per note (31.40%) if the final level of the underlier on July 2, 2029 is greater than or equal to the initial level measured on June 30, 2026. If the final level is below the initial level, holders receive only the stated principal. The estimated value on pricing was $982.80 per note. Payments are unsecured and subject to Morgan Stanley’s credit risk; the notes will not be listed.
Morgan Stanley Finance LLC priced Principal-at-Risk Dual Directional Jump Securities linked to NuScale Power Corporation class A common stock. Each note has a $1,000 stated principal amount, an issue price of $1,000, and an estimated value on the pricing date of $922.50. The notes are auto-callable on the first determination date of June 10, 2027 if the closing level of the underlier is greater than or equal to the call threshold of $12.27. If not auto-redeemed, payoff at maturity on June 7, 2029 varies by final level: upside participation of 200%, capped depreciation participation mechanics, and potential full principal loss if the final level is below the downside threshold of $7.362.
All payments are subject to the issuer’s credit risk, and the securities do not pay interest; estimated agent commissions are $28.50 per security. The offering materials caution limited secondary market liquidity, model-dependent estimated values, tax uncertainty, and conflicts of interest because affiliates serve as calculation agent and dealer.
Morgan Stanley Finance LLC priced Structured Investments—Enhanced Buffered Jump Securities—linked to the S&P 500® Index. Each security has a $1,000 stated principal amount and matures on July 29, 2027. If the index on the observation date is at or above an 85% buffer level, holders receive the principal plus an $87.50 upside payment (8.75%). If the final level is below the 85% buffer, losses apply at a 1.1765 downside factor per 1% decline beyond the 15% buffer; there is no minimum payment and investors may lose their entire investment. Payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley and are subject to the credit risk of those entities. The estimated value on the pricing date was approximately $988.10 per security.
Morgan Stanley Finance LLC is offering callable principal-at-risk notes due June 14, 2028
The notes pay a fixed coupon of 8.10% per annum, have a stated principal amount of $1,000 per security and an issue price of $1,000 per security. The estimated value on the pricing date is approximately $968.90. The notes reference the common stock of NextEra Energy, Inc. (underlier), have a strike date of June 9, 2026, an observation date of June 9, 2028 and a maturity date of June 14, 2028.
The notes may be redeemed early beginning on the first redemption date of June 14, 2027 on specified quarterly redemption dates if, as of a determination date, a risk neutral valuation model indicates redemption is economically rational to the issuer. If not redeemed, payment at maturity returns the stated principal only if the final level is at or above a downside threshold equal to 65% of the initial level; otherwise principal is reduced pro rata to the final/initial level. All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC offers variable‑income, auto‑callable notes due June 30, 2031 fully and unconditionally guaranteed by Morgan Stanley. The notes are issued at a stated principal amount of $1,000 per note and have an estimated value on the pricing date of approximately $933.80 per note. Coupon payments are monthly and will be either a lower coupon of 0.25% per annum or a higher coupon of 12.00% per annum, determined on each observation date by the closing levels of four underliers. The notes are linked to the worst performing of AMD, Meta (Class A), Marvell and Tesla common stock; poor performance of any one underlier can prevent higher coupons. The notes may be automatically redeemed early if each underlier meets a call threshold on a redemption determination date; otherwise they repay the stated principal at maturity. All payments are unsecured and subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC is offering structured, auto-callable variable-income notes linked to the worst performing of four equities: Meta Platforms (Class A), Palantir (Class A), Netflix and Tesla. Each note has a $1,000 stated principal, pays a monthly variable coupon (either 1.00% or 6.00% annually) and may be automatically redeemed beginning on the first redemption determination date of June 25, 2027. If not called, the notes mature on June 30, 2031 and pay the stated principal plus the final coupon. The notes are unsecured obligations of MSFL, fully guaranteed by Morgan Stanley, carry issuer credit risk, are tied to the worst performing underlier (no diversification benefit), are not exchange-listed, and had an estimated pricing-date value of approximately $928.90 per note on the pricing date.
Morgan Stanley Finance LLC is offering variable income auto-callable notes due June 30, 2031 with a stated principal of $1,000 per note. The notes pay a variable monthly coupon of either 0.25% (lower) or 9.75% (higher) depending on observation-date tests and are linked to the worst-performing of Palantir Technologies Inc., The Goldman Sachs Group, Inc., and QCOM common stock. The strike and pricing date is June 26, 2026; the issuer estimates a pricing-date value of approximately $939.00 per note. The notes may be automatically redeemed starting with the redemption determination date of June 25, 2027 if each underlier meets call thresholds; if not redeemed, holders receive the stated principal at maturity. All payments are unsecured and subject to Morgan Stanley and MSFL credit risk.
Morgan Stanley Finance LLC is offering Variable Income Auto-Callable Notes due June 30, 2031, fully and unconditionally guaranteed by Morgan Stanley. The notes are linked to the worst performing of NVIDIA, Meta Platforms (Class A), Oracle and Alphabet (Class C) and have a stated principal amount of $1,000 per note and an issue price of $1,000 per note. The notes pay a variable coupon: a higher coupon of 9.25% per annum or a lower coupon of 0.25% per annum depending on each observation date. The strike and pricing date are June 26, 2026, the original issue date is June 30, 2026, and the estimated value on the pricing date is approximately $942.30 per note. All payments are subject to Morgan Stanley's credit risk; the notes are unsecured and will not be listed on any exchange.
Morgan Stanley Finance LLC priced a preliminary offering of principal-at-risk, callable contingent income securities linked to the worst performing of three commodity‑linked ETFs: Global X Copper Miners (COPX), Global X Uranium (URA) and State Street SPDR Metals & Mining (XME). The securities have a $1,000 stated principal amount per security, an annual contingent coupon of 15.75% payable only if each underlier is at or above its coupon barrier on observation dates, and a call feature driven by a risk neutral valuation model. If not called, maturity payment returns principal only if each underlier is at or above its 50% downside threshold; otherwise investors suffer a loss equal to the percentage decline of the worst performing underlier. Estimated value on pricing date was approximately $952.60 per security. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering Principal-at-Risk, contingent income auto-callable securities due March 8, 2028, fully guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and pays a contingent coupon at an annual rate of 17.30% only if the basket closing level meets the coupon barrier on observation dates. The five-stock weighted basket has an initial level of 100, a coupon barrier of 70, a call threshold of 90 and a downside threshold of 60. Automatic early redemption is possible on specified determination dates; if not redeemed and the final level is below 60, investors suffer principal losses proportional to the underlier decline. All payments are subject to issuer credit risk and tax treatment is uncertain.
Morgan Stanley Finance LLC offers Digital Basket-Linked Notes (principal at risk) tied 50/50 to the Tokyo Stock Price Index (TPX) and the iShares MSCI South Korea ETF (EWY). Each note has a Face Amount of $1,000; estimated value on the Trade Date is approximately $976.10 per note. If the Final Basket Level on the Determination Date is ≥ 80.00% of the Initial Basket Level, holders receive a Threshold Settlement Amount (expected to be $1,156.90–$1,184.00 per $1,000). If the Final Basket Level is below 80.00%, the Cash Settlement Amount declines according to the Buffer Rate (125%), and investors may lose some or all principal. The notes do not pay interest, are unsecured obligations of MSFL, are fully guaranteed by Morgan Stanley, are not listed, and are subject to issuer credit risk, limited liquidity and model-based estimated values.
Morgan Stanley Finance LLC priced a contingent income, buffered auto-callable note due December 14, 2028 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 per note and a contingent coupon at an annual rate of 10.00%.
The notes pay the contingent coupon for an interest period only if both underliers are at or above their coupon barrier levels on the related observation date (coupon barrier = 65% of initial level). They may be automatically redeemed early if both underliers meet the call threshold (100% of initial). At maturity investors receive principal if both final levels are at or above the buffer level (75%); otherwise payment equals principal times (performance factor of the worst performing underlier + 25%), subject to a 25% minimum payment. Estimated value on the pricing date was approximately $951.10 per security. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering principal-at-risk, contingent income auto-callable securities due September 27, 2027, fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and a preliminary estimated value of approximately $981.30 on the pricing date. The securities pay a 13.25% per annum contingent coupon only if both underliers meet coupon barrier levels on observation dates and may be automatically redeemed early if both underliers meet call thresholds on redemption determination dates. The payout at maturity depends on the worst performing underlier; if the final level of either underlier is below its downside threshold (set at 75% of initial level), investors suffer proportional principal loss and could lose their entire investment. All payments are subject to Morgan Stanley's credit risk and model-based estimated value assumptions.
Morgan Stanley Finance LLC filed an Amendment No. 1 dated June 5, 2026 to a preliminary pricing supplement for contingent income auto-callable securities due June 28, 2029, fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and an original issue price of $1,000.
The notes pay a contingent coupon (annual rate to be set on the pricing date, indicated at 8.00% to 9.00%), are automatically redeemable on specified redemption determination dates if all underliers meet call thresholds, and return principal at maturity only if each underlier is at or above its downside threshold. If the worst performing underlier is below its downside threshold at maturity, investors suffer principal loss equal to the worst underlier's decline. All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC is offering structured, principal‑at‑risk buffered jump securities linked to a five‑index basket with a stated principal amount of $1,000 per security. The securities feature an automatic early redemption on a first determination date of July 7, 2027 for an early redemption payment of $1,120 per security and mature on July 6, 2029. If not called, investors receive at maturity either the principal plus an upside payment (participation rate 125%) when the final level exceeds the initial level, the stated principal if the final level is at or above the buffer level (90% of initial), or a reduced payment that losses 1% for each 1% decline beyond the buffer (subject to a minimum payment of 10% of principal). The pricing date and strike date are June 30, 2026, and the estimated value on the pricing date was approximately $960.20 per security. All payments are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley; payments are subject to credit risk and tax treatment is uncertain.
Morgan Stanley Finance LLC (guaranteed by Morgan Stanley) offers Capped Leveraged Basket-Linked Notes with a $1,000 Face Amount linked to a weighted basket of five international indices. The notes pay no interest and return at maturity depends on the Basket Return measured from an Initial Basket Level of 100 to a Final Basket Level on the Determination Date (expected 20–23 months after the Trade Date). If the Basket Return is positive you receive $1,000 plus 300% of the Basket Return subject to a Cap Level (expected between 108.86% and 110.42%) and a Maximum Settlement Amount (expected between $1,265.80 and $1,312.60 per $1,000 face amount). If the Basket Return is zero or negative you receive $1,000 plus the Basket Return, which may result in a loss of some or all principal. The estimated value on the Trade Date is approximately $990.30 per note (±$15). All payments are unsecured and subject to issuer credit risk; notes are not listed and have limited liquidity.
Morgan Stanley Finance LLC priced contingent income auto-callable securities linked to Astera Labs, Inc. common stock due June 24, 2031. Each note has a stated principal amount of $1,000, a contingent coupon set at an annual rate of 43.00%, and automatic early‑redemption observation and payment dates beginning December 18, 2026.
If not called, repayment at maturity depends on the final closing level versus a downside threshold equal to 60% of the initial level; if the final level is below that threshold, investors suffer losses pro rata to the underlier’s decline and could lose their entire principal. The estimated value on the pricing date was approximately $923.60 per security.
The issuer, Morgan Stanley Finance LLC, is offering principal‑at‑risk, auto‑callable notes linked to the common stock of Advanced Micro Devices, Inc.. Each security has a $1,000 stated principal amount and an estimated value of approximately $948 on the pricing date. The notes can be automatically redeemed on the first determination date for an early redemption payment of $1,378.50 if the underlier meets the call threshold. At maturity the payoff depends on the final level versus the initial level: upside participation is 150%, depreciation can produce a capped positive return when the final level is at or above the downside threshold (50% of the initial level), and losses below that threshold result in pro rata principal loss that could be zero. All payments are subject to the issuer and guarantor credit risk.
Morgan Stanley Finance LLC offers Trigger PLUS principal-at-risk securities maturing June 12, 2031, fully and unconditionally guaranteed by Morgan Stanley. The securities pay no interest and have a 230% leverage factor to positive performance of the S&P 500® Futures Excess Return Index. At maturity investors receive principal plus leveraged upside if the final level exceeds the initial level; if the final level is between the initial level and the 70% downside threshold, investors receive principal; if the final level is below the downside threshold investors lose principal on a 1:1 basis. The issue price is $1,000 per security and the estimated value on the pricing date is approximately $978.40 per security. All payments are subject to the issuer’s and guarantor’s credit risk; there is no minimum payment and investors could lose their entire investment.
Morgan Stanley Finance LLC is offering structured, non‑interest bearing Jump Notes linked to the Class A ordinary shares of Accenture plc with a $1,000 stated principal per note and an upside payment of $360 (36%) per note. The notes have a pricing and strike date of June 30, 2026, an original issue date of July 6, 2026, an observation date of July 2, 2029 and a maturity date of July 6, 2029. Payments at maturity depend solely on the closing final level of the underlier on the observation date: if the final level is greater than or equal to the initial level, holders receive principal plus the upside payment; if it is less, holders receive only principal. All payments are subject to the issuer and guarantor credit risk and the notes will not be listed on an exchange.
Morgan Stanley Finance LLC is offering market‑linked notes due July 1, 2031 that are fully and unconditionally guaranteed by Morgan Stanley. Each note has a $1,000 stated principal amount and an issue price of $1,000.
At maturity the notes pay the stated principal and, if the basket’s final level exceeds the initial level, an upside payment equal to the stated principal amount × a 112% participation rate × the underlier percent change. The estimated value on the pricing date was approximately $929.20 per note and selected dealers receive a $30 commission per note.
Morgan Stanley Finance LLC priced market-linked, auto‑callable principal‑at‑risk securities linked to the lower‑performing share of The Boeing Company and Shopify Inc., with a face amount of $1,000 per security and an estimated value of $912.60 on the pricing date. The notes offer at least a 325% participation rate on positive performance of the lowest performing underlying stock, an automatic call feature with a $1,400 call payment on the call date, and a contingent absolute return that caps certain positive outcomes at 40%. The securities mature on June 14, 2029 with a call date of June 15, 2027 and are fully guaranteed by Morgan Stanley; all payments are subject to Morgan Stanley credit risk. The pricing date is June 10, 2026.
Morgan Stanley Finance LLC is offering principal-at-risk, dual directional trigger Jump Securities due June 24, 2031, fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and an upside payment of $845 per security. Payout at maturity depends on the worst performing of three underliers: the EURO STOXX 50® Index, the S&P 500® Index and the State Street® Technology Select Sector SPDR® ETF. If all underliers finish at or above their initial levels, holders receive principal plus the greater of (i) the worst underlier’s percent change or (ii) the fixed upside payment. If the worst underlier declines but stays at or above 70% of its initial level, holders receive principal plus an absolute-return-based positive payoff (capped effectively at 30%). If the worst underlier closes below 70% of its initial level, holders lose 1% of principal for each 1% decline in that underlier and could lose their entire investment. All payments are subject to issuer and guarantor credit risk, and the securities do not pay interest.
Morgan Stanley Finance LLC offers a preliminary pricing supplement for Buffered Jump Securities with an Auto-Callable Feature due June 30, 2031, fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and an estimated value on the pricing date of approximately $949.60.
The securities reference the S&P 500® Futures Excess Return Index, have a strike/pricing date of June 25, 2026, a first determination date for automatic early redemption of July 2, 2027 and a final determination date of June 25, 2031. The notes feature a 100% participation rate, a call threshold equal to 100% of the initial level, an early redemption payment of $1,167.50, a buffer level equal to 90% of the initial level (a 10% buffer) and a minimum payment at maturity of 10% of principal. Investors bear full credit risk of MSFL and Morgan Stanley and may lose a significant portion of principal if the underlier performs below the buffer.
Morgan Stanley Finance LLC is offering Buffered Digital MSCI EAFE® Index‑Linked Notes, unsecured and fully guaranteed by Morgan Stanley, with a Face Amount of $1,000 per note. Payments at maturity depend on the MSCI EAFE® Index performance measured from the Trade Date to a Determination Date expected 21–24 months later. If the Final Underlier Level is at least 87.50% of the Initial Underlier Level, investors receive a capped Maximum Settlement Amount (expected to be 113.78%–116.21% of face). If the Final Underlier Level is below 87.50%, investors incur losses and could lose their entire investment. The issuer estimates the value on the Trade Date at approximately $989.30 per note. All payments are subject to Morgan Stanley’s credit risk; the notes pay no interest, are not listed, and have limited or no secondary market liquidity.