Morgan Stanley 424B Filings

Morgan Stanley Finance LLC is offering callable Contingent Income Securities due June 22, 2029, fully guaranteed by Morgan Stanley, with a stated principal amount of $1,000 per security. The securities pay a contingent coupon of 12.55% per annum only when each underlier meets its coupon barrier on observation dates and are linked to the worst performing of TLT, Nasdaq-100 (NDX) and Russell 2000 (RTY). If not called and all final levels are at or above downside thresholds (each set at 70% of initial level), investors receive principal; if the worst performing underlier is below its downside threshold, payment at maturity equals the stated principal multiplied by the worst performing underlier's performance factor, exposing investors to potential loss of principal. The securities may be called beginning December 22, 2026 based on a risk neutral valuation model; estimated value at pricing was approximately $982.70 per security. All payments are subject to Morgan Stanley's credit risk and U.S. federal tax treatment is uncertain.

Morgan Stanley Finance LLC offers contingent income auto-callable notes tied to NVIDIA common stock with principal at risk. Each security has a $1,000 stated principal amount, an original issue price of $1,000 and a hypothetical estimated value of approximately $981.90 on the pricing date. The notes pay a contingent annual coupon of 10.90% only if the underlier meets the coupon barrier on specified observation dates and are automatically redeemed early if the closing level meets or exceeds the call threshold on a redemption determination date. At maturity, if not redeemed, repayment equals principal if the final level is at or above the downside threshold (45% of the initial level); if below, the payment equals principal multiplied by final/initial level, exposing investors to full downside loss. All payments are unsecured obligations of MSFL and guaranteed by Morgan Stanley and are subject to issuer credit risk.

Morgan Stanley Finance LLC offers callable contingent income securities linked to the common stock of Incorporated (QCOM), issued under its Series A Global Medium-Term Notes program. Each security has a $1,000 stated principal amount, a contingent coupon of 24.00% per annum and a principal-at-risk payoff tied to a 50% downside threshold. The notes may be redeemed on specified redemption dates beginning December 21, 2026 based on a risk neutral valuation model; maturity is December 21, 2027.

Morgan Stanley Finance LLC priced contingent-income, principal-at-risk notes linked to Astera Labs, Inc. Each security has a stated principal amount of $1,000 and an issue price of $1,000. The securities pay a contingent coupon at an annual rate of 36.96% on specified observation dates and mature on June 24, 2027. Automatic early redemption may occur on specified redemption determination dates beginning September 21, 2026. If not redeemed, repayment at maturity depends on the final closing level of Astera Labs common stock relative to a 50% buffer and uses a 2x downside factor, exposing investors to potential loss of principal. The pricing date and strike date were June 5, 2026; the estimated value on the pricing date was approximately $981.70 per security. Agent commissions were $10 per $1,000 security.

Morgan Stanley Finance LLC priced Principal-at-Risk structured notes linked to the worst-performing of NVIDIA Corporation and ServiceNow, Inc., with a $1,000 stated principal amount per security and original issue price of $1,000. The securities have a first determination date of June 11, 2027, an early redemption payment of $2,112.50 if both underliers meet their call thresholds, and a maturity date of June 7, 2029. The notes use a 150% participation rate to calculate upside at maturity if both final levels exceed initial levels. Initial levels on the strike date were $218.66 (NVDA) and $119.36 (NOW); downside thresholds are $196.794 and $107.424 respectively. Estimated value on the pricing date was approximately $918.00 per security. All payments are subject to issuer and guarantor credit risk.

Morgan Stanley Finance LLC offers structured Jump Notes due July 20, 2027, fully guaranteed by Morgan Stanley. The notes have a stated principal amount of $1,000 per note and a fixed upside payment of $74 per note (7.40%) payable at maturity if the worst performing underlier finishes at or above its strike level. The notes pay no interest, are unsecured, and base payoff on the worst performing of the Nasdaq-100, Russell 2000 and S&P 500 indices. Observation date is July 15, 2027 (final levels used); strike and pricing date are June 15, 2026.

Morgan Stanley Finance LLC is offering Principal at Risk auto-callable securities linked to the common stock of Amazon.com, Inc. Each security has a stated principal amount of $1,000 and an issue price of $1,000. The securities pay a contingent coupon at an annual rate of 10.20% only if the underlier meets the coupon barrier on observation dates and feature automatic early redemption beginning with a first redemption determination date of December 28, 2026. If not called, the securities mature on July 29, 2027; if the final level is below the downside threshold (set at 69% of the initial level), holders suffer a loss proportional to the decline in the underlier and could lose their principal. The document states an estimated value on the pricing date of approximately $969.20 per security and discloses the closing level of the underlier on June 4, 2026 as $253.79. All payments are subject to the issuer’s and guarantor’s credit risk and U.S. federal income tax treatment is described as uncertain.

Morgan Stanley Finance LLC offers Principal at Risk auto-callable securities linked to the Class A common stock of Bloom Energy Corporation, with a stated principal amount of $1,000 per security and an original issue price of $1,000 per security. The securities pay a 56.00% annual contingent coupon on each interest period only if the closing level of the underlier on the observation date is at or above the coupon barrier (set at 60% of the initial level). The notes are automatically redeemed if the closing level on any redemption determination date is at or above the call threshold (100% of the initial level), in which case holders receive the stated principal plus the contingent coupon for that period. If not redeemed, maturity payment equals principal if the final level is at or above the downside threshold (60% of initial level); if below, payment equals stated principal multiplied by final/initial level, exposing holders to full downside and possible total loss. All payments are subject to issuer and guarantor credit risk.

Morgan Stanley Finance LLC is offering callable, principal-at-risk contingent income securities linked to ServiceNow, Inc. common stock with a stated principal amount of $1,000 per security. The notes pay a contingent coupon of 21.75% per annum on each coupon payment date only if the underlier’s closing level on the related observation date is at or above a coupon barrier set at 50% of the initial level. The securities may be redeemed early beginning on December 21, 2026 if a risk neutral valuation model determines redemption is economically rational; otherwise, at maturity on December 21, 2027 investors receive principal only if the final level is at or above a downside threshold equal to 50% of the initial level, and otherwise suffer losses proportionate to the decline in the underlier.

Morgan Stanley Finance LLC priced Structured Investments Enhanced Trigger Jump Securities linked to the S&P 500® Index, with a stated principal amount of $1,000 per security. The securities pay no interest and are fully guaranteed by Morgan Stanley. At maturity on June 22, 2027, if the final level is at or above the downside threshold, holders receive the stated principal plus a fixed $84.50 upside payment; if the final level is below the downside threshold, holders suffer losses pro rata to the index decline and could lose their entire principal. The offering lists an estimated value on the pricing date of approximately $985.90 per security and reflects placement agent compensation of up to $10 per security; all payments are subject to issuer and guarantor credit risk.

Morgan Stanley Finance LLC is offering Dual Directional Buffered PLUS principal-at-risk securities with a $1,000 stated principal amount per security and an aggregate principal amount of $1,500,000. The securities mature on June 7, 2029, are linked to the worst performing of the Russell 2000® and S&P MidCap 400® indices, and are fully and unconditionally guaranteed by Morgan Stanley. Investors receive no interest; payoff at maturity depends on the worst performing underlier: leveraged upside at 112% for positive performance, capped absolute participation up to 15% when declines stay within a 15% buffer, and losses below the buffer with a minimum payment of 15% of principal. All payments are subject to issuer credit risk.

Morgan Stanley Finance LLC is offering structured, market-linked notes due June 17, 2031, fully and unconditionally guaranteed by Morgan Stanley. Each note has a stated principal amount of $1,000 and a participation rate of 123.50% linked to the S&P 500® Futures Excess Return Index. The notes pay no periodic interest; at maturity investors receive the stated principal plus an upside payment equal to the stated principal × participation rate × underlier percent change if the final level exceeds the initial level. If the final level is equal to or less than the initial level, investors receive only the stated principal. The pricing date and strike date are June 12, 2026. The estimated value on the pricing date is approximately $946.80 per note. All payments are subject to the issuer’s and guarantor’s credit risk, the notes will not be listed, and certain client accounts with Morgan Stanley discretionary authority may not purchase these notes.

Morgan Stanley Finance LLC priced Principal at Risk notes tied to NVIDIA Corporation common stock. The offering totals $5,987,000 at an issue price of $1,000 per security and is fully guaranteed by Morgan Stanley. The notes pay a contingent coupon at an annual rate of 16.60% on observation dates when the closing level of NVDA is at or above the coupon barrier of $139.588. The notes feature automatic early redemption if NVDA closes at or above the call threshold of $214.75 on any redemption determination date. At maturity, if the final level is below the downside threshold of $139.588, principal is paid pro rata by the performance factor and may be significantly reduced or zero. All payments are subject to issuer credit risk; the estimated value at pricing was $979.40 per security.

Morgan Stanley Finance LLC offers callable contingent income securities 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 securities pay a contingent coupon at an annual rate of 7.85% only if the closing level of each underlier (the Dow Jones Industrial, Nasdaq-100 and Russell 2000) meets or exceeds its coupon barrier on each observation date. The securities mature on June 24, 2031, with a final observation date of June 18, 2031. If not redeemed and the final level of any underlier is below its downside threshold (65% of its initial level), payment at maturity will be reduced pro rata to the performance of the worst performing underlier and could be zero. An issuer call may occur on scheduled redemption dates starting June 25, 2027, but only if a risk neutral valuation model indicates redemption is economically rational. The estimated value on the pricing date is approximately $944.30 per security.

Morgan Stanley Finance LLC is offering callable Principal at Risk notes due June 24, 2027, fully guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000, will pay a fixed monthly coupon (an annual rate of at least 10.10% to be set on the pricing date) and may be called beginning December 24, 2026 based on the output of a risk‑neutral valuation model. At maturity, if every underlier (the Nasdaq‑100, Russell 2000 and S&P 500) is at or above its downside threshold (each set at 70% of its initial level), holders receive the stated principal; if the worst performing underlier finishes below its threshold, the repayment equals the stated principal multiplied by that underlier’s performance factor and could be significantly less or zero. All payments are subject to the issuer’s and guarantor’s credit risk.

Morgan Stanley Finance LLC priced principal-at-risk notes offering tied to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. The securities were issued at $1,000 per security with an aggregate principal amount of $2,131,000 and an estimated value on the pricing date of $899.60 per security. The notes pay a contingent coupon at an annual rate of 10.50% when the index closing level on observation dates meets or exceeds the coupon barrier (70% of the initial level). The securities feature automatic early redemption if the underlier meets the call threshold (100% of the initial level) on any redemption determination date, a 15% buffer at maturity, and a 15% minimum payment at maturity. All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley; payments remain subject to issuer credit risk.

Morgan Stanley Finance LLC priced structured, principal‑at‑risk notes tied to a two‑stock basket and fully guaranteed by Morgan Stanley. The notes have a stated principal of $1,000 per security, aggregate issuance of $253,000, an upside payment of $465 (46.50% of principal) if the final level is at or above the initial level, and a payment at maturity that declines 1% for each 1% drop in the underlier.

Key dates: strike and pricing date June 3, 2026, original issue date June 8, 2026, observation date December 3, 2027 and maturity December 8, 2027. Estimated value on the pricing date was $977.90 per security. All payments remain subject to Morgan Stanley credit risk.

Morgan Stanley Finance LLC priced a structured note linked to Rigetti Computing, Inc. The offering consists of 800 securities at a $1,000 stated principal amount each (aggregate $800,000), with an issue price of $1,000 per security and an estimated value on the pricing date of $920.70. The notes pay a contingent coupon at an annual rate of 41.75% on each coupon payment date only if the closing level of Rigetti stock is at or above the coupon barrier ($12.048, 50% of the initial level) on the related observation date. The notes are subject to automatic early redemption beginning with the redemption determination date of June 3, 2027 if the closing level is at or above the call threshold ($24.095, 100% of the initial level). If not redeemed, at maturity on June 8, 2028 investors receive principal only if the final level is at or above the downside threshold ($12.048); otherwise the payment equals the stated principal multiplied by the performance factor (final level / initial level), exposing investors to loss of principal up to 100%. All payments are obligations of MSFL and guaranteed by Morgan Stanley and are subject to the issuer's credit risk.

Morgan Stanley Finance LLC prices Principal at Risk Callable Contingent Income Securities linked to Palantir Technologies Inc. The offering comprises $671,000 aggregate principal of notes at a $1,000 stated principal amount per security with an original issue price of $1,000 and an estimated value of $974.10 on the pricing date.

Key economics: a 17.00% annual contingent coupon payable only if the underlier meets the coupon barrier on observation dates; initial level $142.20, coupon barrier and downside threshold of $71.10 (50% of initial); maturity on December 8, 2027; first callable date December 8, 2026. Payments are subject to issuer credit and the notes are fully guaranteed by Morgan Stanley.

Morgan Stanley Finance LLC priced a primary offering of $258,000 aggregate principal of Principal at Risk structured notes due December 8, 2027, fully guaranteed by Morgan Stanley. The notes reference a two-stock basket (50% Campbell Soup Company; 50% EPAM Systems) and pay a fixed $431 upside per $1,000 if the final level is at or above the initial level.

The securities do not pay interest, expose investors to full credit risk of Morgan Stanley, and reduce principal dollar-for-dollar if the underlier declines; the estimated value on the pricing date was $966.10 per security and agent commissions totaled $15 per security.

Morgan Stanley Finance LLC is offering Principal at Risk auto-callable securities linked to EPAM Systems, Inc. common stock with a $1,000 stated principal per security and a maturity date of June 7, 2028. The securities pay a contingent coupon of 18.64% per annum on observation dates only if the underlier meets the coupon barrier.

The initial level and call threshold were set at $103.23; the coupon barrier and downside threshold are $61.938 (60% of the initial level). Securities are automatically redeemed if the underlier closes at or above the call threshold on any redemption determination date; otherwise final payment can result in a principal loss pro rata to the underlier's decline. Issue price is $1,000 (estimated value on pricing date $971.40); aggregate offering is $630,000. All payments are subject to Morgan Stanley's credit risk.

Morgan Stanley Finance LLC is offering Buffered PLUS securities due June 7, 2029, fully guaranteed by Morgan Stanley, linked to the worst performing of the Dow Jones Industrial Average and the S&P 500. Each security has a $1,000 stated principal amount and an observation date of June 4, 2029. The securities pay no interest and offer a leveraged upside equal to 122% of the appreciation of the worst performing underlier, a 15% downside buffer, and a 15% minimum payment at maturity. If the worst performing underlier finishes below its buffer level, investors lose 1% for each 1% decline beyond the buffer, subject to Morgan Stanley credit risk. The estimated value at issuance was $980.30 per security; aggregate issuance is $3,320,000. Agent fees and structuring payments reduce proceeds to the issuer and are disclosed in the supplement.

Morgan Stanley prices a preliminary offering of fixed rate notes due August 10, 2027 with a stated principal of $1,000 per note and an interest rate of 4.375% per annum. The original issue date is June 10, 2026.

The notes pay interest in arrears on August 10, 2027, are book-entry only, will not be listed on any exchange, and are unsecured obligations subject to Morgan Stanley's credit risk. The proceeds are for general corporate purposes; Morgan Stanley will receive $1,000 per note issued.

Morgan Stanley Finance LLC prices auto-callable Jump Securities linked to the worst-performing of Advanced Micro Devices, Inc. and Marvell Technology, Inc.. The securities have a stated principal amount of $1,000 per security, an original issue date of June 10, 2026, and mature on June 8, 2028. Beginning one year after issuance, monthly determination dates may trigger automatic early redemption for fixed early redemption payments that correspond to a per annum return of approximately 62.508%. If not redeemed, the payment at maturity is $2,250.16 if both final share prices are at or above their 60% downside threshold levels; otherwise the maturity payment equals $1,000 multiplied by the share performance factor of the worst-performing underlying stock, which could result in a payment below 60% of principal and possibly $0. All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley and are subject to Morgan Stanley credit risk.

Morgan Stanley Finance LLC is offering Principal at Risk auto-callable securities linked to Intuitive Surgical, Inc. common stock, with a $1,000 stated principal per security and a maturity date of July 15, 2027. The securities pay a contingent coupon of 10.75% per annum on each coupon payment date only if the closing level of the underlier is at or above the coupon barrier level on the related observation date.

The securities feature automatic early redemption if the underlier’s closing level meets or exceeds the call threshold on any redemption determination date (first such date: December 14, 2026), and a downside exposure at maturity if the final level is below the downside threshold (both threshold levels set at 67% of the initial level in this pricing supplement). Estimated value on the pricing date was approximately $964.30 per security; all payments are subject to MSFL/Morgan Stanley credit risk.

Morgan Stanley Finance LLC is offering Principal at Risk contingent income auto-callable securities linked to the common stock of Intuitive Surgical, Inc.. Each security has a $1,000 stated principal amount and an original issue price of $1,000, with an estimated value on the pricing date of approximately $978.90. The securities pay a contingent coupon at an annual rate of 13.10% on each coupon payment date only if the closing level of the underlier is at or above a coupon barrier set at 67% of the initial level. The securities may be automatically redeemed early if the closing level on a redemption determination date is at or above the call threshold (100% of the initial level). At maturity, if not redeemed and the final level is below the downside threshold (67% of the initial level), investors suffer a loss proportional to the underlier’s decline; repayment could be significantly less than principal or zero. All payments are subject to Morgan Stanley’s credit risk.

Morgan Stanley Finance LLC (guaranteed by Morgan Stanley) is offering $1,572,000 aggregate of Leveraged Buffered MSCI EAFE® Index-Linked Notes due July 14, 2028. Each Face Amount is $1,000. The notes provide 160% upside participation subject to a cap: the Cap Level is 120.06% of the initial index level, producing a $1,320.96 maximum cash settlement per $1,000 face amount. There is a buffer of 15.00% (Buffer Level = 85.00% of the initial level); if the final index level declines by more than 15.00%, holders incur pro rata losses and could lose their entire investment. Trade Date is June 2, 2026, Initial Underlier Level is 3,105.78, estimated value on the Trade Date is $991.50 per note, and all payments are subject to issuer and guarantor credit risk.

Morgan Stanley Finance LLC is offering $3,940,000 of Airbag In-Digital Securities linked to a weighted basket of international indices. Each Security has an Issue Price of $10.00, an estimated Trade Date value of $9.928 per Security, and a fixed Digital Return of 10.30% payable at maturity if the Final Basket Level is at or above the Digital Barrier. The Digital Barrier and Downside Threshold equal 90 (90% of the Initial Basket Level). If the Final Basket Level is below that threshold, principal is contingent and investors lose 1.111% of principal for each 1% the Basket declines beyond the 10% Threshold Percentage. Trade Date is June 2, 2026, Final Valuation Date is July 2, 2027, and Maturity Date is July 8, 2027. Payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley and are therefore subject to the issuer's credit risk.

Morgan Stanley Finance LLC is offering Buffered Jump Securities due June 14, 2027 that are fully and unconditionally guaranteed by Morgan Stanley. The securities pay no interest and return either the $1,000 stated principal plus a fixed $100 upside payment if the final reference rate is at or above the threshold reference rate of 3.7157%, or a reduced cash payment at maturity if the final reference rate is below that threshold. The payoff is based on the percentage change in the 10‑Year U.S. Dollar SOFR ICE Swap Rate from the initial reference rate of 4.072% to the final reference rate on the valuation date (June 9, 2027); below the threshold you lose 1.096% of principal for each 1% decline beyond the buffer (8.75%) and the payment can be zero. The issue price is $1,000 per security, aggregate $1,000,000, estimated value on the pricing date $991.00 per security, and proceeds are for general corporate purposes.

Morgan Stanley Finance LLC is offering Buffered PLUS principal-at-risk securities linked to the S&P 500® Futures Excess Return Index with an aggregate principal amount of $1,475,000. 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 $940.80. The securities mature on June 5, 2031 with an observation date of June 2, 2031. Investors receive stated principal plus 171.75% of upside if the final level exceeds the initial level; if the final level falls below an 80% buffer, losses occur on a 1% for 1% basis beyond the buffer, subject to a 20% minimum payment at maturity.

Morgan Stanley Finance LLC is offering market-linked notes due June 5, 2031, fully and unconditionally guaranteed by Morgan Stanley. The notes have a stated principal amount of $1,000 per note and pay no interest. At maturity investors receive the stated principal amount plus an upside payment only if the S&P 500® Futures Excess Return Index final level exceeds the initial level of 611.86 (strike date June 2, 2026). The upside payment equals the stated principal amount × participation rate 117% × index percent change. The original issue price is $1,000 and the issuer’s estimated value on the pricing date was $940.80 per note. The aggregate principal amount offered is $540,000; selected dealers receive a fixed commission of $40 per note and proceeds to the issuer are $960 per note. All payments are subject to Morgan Stanley’s credit risk and the notes will not be listed on any exchange.

Morgan Stanley Finance LLC priced $1,000,000 of Principal at Risk securities linked to the S&P 500® Index. Each security has a $1,000 stated principal amount, a participation rate of 100%, a 10% buffer (buffer level 6,839.964) and a maximum payment at maturity of $1,152. The initial level is 7,599.96 (strike date) and the observation date is June 4, 2027, with maturity on June 9, 2027. The estimated value on the pricing date was $992.40 per security; the securities pay no interest, are unsecured obligations of MSFL, and are fully guaranteed by Morgan Stanley. All payments are subject to issuer credit risk and tax treatment is uncertain.

Morgan Stanley Finance LLC is offering $500,000 of Digital S&P 500® Index-Linked Notes due July 7, 2027, fully and unconditionally guaranteed by Morgan Stanley. Each $1,000 Face Amount note provides a capped upside of $1,089.40 at maturity if the S&P 500® closes at or above 80% of its June 2, 2026 level; otherwise investors suffer a loss equal to the full percentage decline in the index from the initial level, potentially losing the entire investment. The notes pay no interest, are unsecured, not listed, and their estimated value on the trade date was $985.80 per note. All payments are subject to issuer credit risk and payment at maturity depends on the Closing Level on the Determination Date.

Morgan Stanley Finance LLC priced contingent income auto-callable notes linked to Intuitive Surgical common stock with a stated principal amount of $1,000 per security and a maturity date of July 15, 2027. The notes pay a contingent coupon (annual rate 18.90%) only if the underlier's closing level meets the coupon barrier on observation dates and may be automatically redeemed early if the closing level meets the call threshold on redemption determination dates. If not called and the final level is below the downside threshold (77% of the initial level), holders suffer a proportional loss of principal (payment = stated principal × final level/initial level). All payments are subject to Morgan Stanley's credit risk; estimated value on the pricing date was approximately $983.40 per security.

Morgan Stanley Finance LLC is offering structured, principal-at-risk notes due June 27, 2030 that are fully guaranteed by Morgan Stanley. Each security has a $1,000 issue price and an estimated value on the pricing date of approximately $887.50. The underlier is a five-stock basket (20% weights) comprising CRWV, MRVL, MU, QCOM and WDC, with an initial level of 100, a call threshold of 95 and a downside threshold of 50. The notes pay no interest and expose investors to loss of principal if the final level is below the downside threshold; payment at maturity can be $2,006 if the final level meets the call threshold, $1,000 if between thresholds, or stated principal × (final level/initial level) if below the downside threshold. Automatic early redemption begins at the first determination date on July 1, 2027 with scheduled early-redemption payments rising across periodic determination dates. All payments are subject to the issuer’s and guarantor’s credit risk.

Morgan Stanley Finance LLC priced contingent income auto-callable securities due June 15, 2029 linked to the Class A common stock of CoreWeave, Inc. The securities have a $1,000 stated principal amount and pay a contingent quarterly coupon at an annual rate of 30.00% only if the determination closing price is at or above a downside threshold equal to 50% of the initial share price. If any of the first eleven determination dates has a closing price at or above the initial share price, the securities will be automatically redeemed at the stated principal amount plus the applicable contingent coupon. If the securities remain outstanding to maturity and the final share price is below the downside threshold, investors will receive a payment equal to the stated principal amount multiplied by the share performance factor and could lose a substantial portion or all of their principal.

The issue price is $1,000 per security; Morgan Stanley estimates the security's value on the pricing date at approximately $962.40. Pricing date is June 12, 2026, original issue date June 17, 2026, and the final determination date is June 12, 2029. All payments are unsecured obligations of MSFL and guaranteed by Morgan Stanley; holders bear issuer credit risk and market/underlier risks described herein.

Morgan Stanley Finance LLC priced contingent income auto-callable notes linked to Netflix, Inc. common stock. Each security has a $1,000 stated principal amount, a 14.00% annual contingent coupon (payable only if observation-date conditions are met) and a maturity date of July 22, 2027. The notes may be automatically redeemed on specified redemption determination dates beginning December 18, 2026, and investors can lose principal if the underlier breaches the downside threshold level during the term. All payments are subject to Morgan Stanley's credit risk and tax treatment is uncertain.

Morgan Stanley Finance LLC is offering structured, principal-at-risk notes tied to the common stock of Intuitive Surgical, Inc. The notes have a $1,000 stated principal amount, a contingent coupon at an annual rate of 16.20%, automatic early redemption features and mature on July 15, 2027.

Coupons are paid only if the underlier’s closing level meets the coupon barrier on observation dates; early redemption occurs if the closing level meets the call threshold on scheduled redemption determination dates. If not redeemed and the final level is below the downside threshold (set at 77% of the initial level), investors suffer proportional principal loss. All payments are subject to Morgan Stanley credit risk and tax treatment is uncertain.

Morgan Stanley Finance LLC is offering Structured Investments — Buffered Jump Securities (principal at risk) due June 27, 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 securities feature a 15% buffer, a 201% participation rate in the upside of the worst performing of the Dow Jones Industrial Average and the S&P 500 Index, a minimum payment at maturity of 15% of principal, and an automatic early redemption on the first determination date for an early redemption payment of $1,100 per security if both underliers are at or above their 100% call thresholds. Estimated value on the pricing date is approximately $980.70 per security. All payments are subject to the issuer’s and guarantor’s credit risk.

Morgan Stanley Finance LLC is offering structured, principal‑at‑risk, auto‑callable securities due June 29, 2029 that are 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 securities reference the worst performing of the Dow Jones Industrial Average, the Nasdaq‑100 and the S&P 500. Key economic terms disclosed include an estimated value on the pricing date of approximately $974.10, a participation rate of 150%, an early redemption payment of $1,186 if all call thresholds are met on the first determination date (June 29, 2027), and a downside threshold equal to 70% of each underlier’s initial level. If any underlier finishes below its downside threshold, payment at maturity is reduced pro rata to the worst performer and could be zero.

Morgan Stanley Finance LLC priced a buffered, principal-at-risk note due December 16, 2027 that is fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and provides 150% leveraged upside on the worst performing of the Nasdaq-100® Technology Sector and the S&P 500®, subject to a $1,310 maximum payment. The securities return the stated principal at maturity if the worst performing underlier finishes no worse than 15% below its initial level (the buffer). If the worst performing underlier falls below the buffer, holders lose 1.1765% of principal for each 1% decline beyond the buffer; there is no minimum payment and investors could lose their entire investment. The document discloses an estimated value on the pricing date of approximately $979.70 per security and states all payments are subject to issuer credit risk.

Morgan Stanley Finance LLC is pricing Principal at Risk auto-callable notes linked to the common stock of NVIDIA Corporation, due June 14, 2029. Each security has a stated principal amount of $1,000 and an issue price of $1,000.

The securities pay a contingent coupon at an annual rate of 13.85% on each coupon payment date only if the closing level of the underlier on the related observation date is at or above the coupon barrier level (60% of the initial level). The securities may be automatically redeemed early if the closing level on any redemption determination date is at or above the call threshold (100% of the initial level). At maturity, if not redeemed, holders receive principal only if the final level is at or above the downside threshold (60% of the initial level); otherwise repayment equals the stated principal multiplied by the performance factor, which may result in a significant loss of principal, potentially to zero. All payments are subject to the issuer’s and guarantor’s credit risk. The estimated value on the pricing date was approximately $961.70 per security.

Morgan Stanley Finance LLC offers S&P 500® Index-linked, principal-at-risk notes governed by a preliminary pricing supplement dated June 4, 2026.

The notes have a $1,000 Face Amount and do not pay interest. The cash payment at maturity (expected between 17 and 20 months after the trade date) depends on the Final Underlier Level versus a Threshold Level equal to 90% of the Initial Underlier Level. If the Final Underlier Level is ≥ the Threshold Level, each note will pay a capped Maximum Settlement Amount expected to be between $1,121.20 and $1,142.50 per $1,000 face amount. If the Final Underlier Level is below the Threshold Level, investors receive a formulaic cash amount that incorporates a Buffer Rate of approximately 111.11%, and may lose some or all principal. The issuer estimates a Trade Date value of approximately $997.40 per note. All payments are subject to the issuer's credit risk and the notes will not be listed on any exchange.

Morgan Stanley Finance LLC (guaranteed by Morgan Stanley) is offering Digital EURO STOXX 50® Index‑Linked Notes due August 9, 2027 with $1,000 face amount per note. The notes pay no interest; maturity payment depends on the EURO STOXX 50® performance from June 2, 2026 (initial level 6,107.85) to the Determination Date.

If the Final Underlier Level is ≥ 90% of the initial level (threshold 5,497.065), holders receive a Maximum Settlement Amount of $1,119.00 (111.90% of face). If below 90%, the payoff is reduced according to the Buffer Rate (~111.11%), and investors may lose some or all principal. Original issue price is $1,000; estimated value on trade date ~$987.80.

Morgan Stanley Finance LLC priced contingent income auto-callable notes due June 14, 2029 linked to the worst performing of the SPDR® Gold Trust (GLD) and the VanEck® Gold Miners ETF (GDX). Each security has a $1,000 stated principal amount and a contingent annual coupon of 13.00% payable only when both underliers meet their coupon barrier levels on observation dates. The notes can be automatically redeemed on specified redemption determination dates for the stated principal plus any contingent coupon if both underliers meet call thresholds; otherwise holders face principal loss at maturity if the worst performing underlier falls below its 60% downside threshold of its initial level. Payments are unsecured obligations of MSFL and are fully guaranteed by Morgan Stanley; all payments remain subject to Morgan Stanley’s credit risk.

Morgan Stanley Finance LLC is offering structured, principal‑at‑risk notes due June 17, 2031 linked to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index. Each security has a stated principal amount of $1,000 and an estimated value on the pricing date of approximately $941.00. The notes can be automatically redeemed on the first determination date June 16, 2027 for an early redemption payment of $1,215 if the underlier is at or above the call threshold (80% of the initial level). At maturity, holders may receive (a) principal plus an upside payment if the final level is above the initial level (participation rate 350%), (b) principal only if the final level is between the downside threshold (50% of initial) and the initial level, or (c) a reduced payment proportional to the underlier’s decline if the final level is below the downside threshold, potentially losing the entire investment. All payments are subject to the issuer’s and guarantor’s credit risk.

Morgan Stanley Finance LLC priced principal-at-risk structured notes linked to the worst-performing of the MSCI EAFE® and MSCI Emerging Markets indices. Each note has a $1,000 stated principal amount and an original issue price of $1,000. The notes can be automatically redeemed on the first determination date for a fixed early redemption payment of $1,225 or, if not redeemed, pay at maturity based on the worst-performing underlier, with a 150% participation rate in upside and a 70% downside threshold. Estimated value on the pricing date is approximately $940.80 per security. All payments are subject to Morgan Stanley Finance LLC’s and Morgan Stanley’s credit risk.

Morgan Stanley Finance LLC is offering structured, principal-at-risk notes linked to the worst performing of the State Street SPDR S&P Metals & Mining ETF (XME) and the VanEck Gold Miners ETF (GDX). Each security has a $1,000 stated principal amount and matures on March 29, 2029. The securities feature a 15% buffer (buffer level = 85% of initial level) and automatic early redemption opportunities beginning with the determination date on December 28, 2026, with scheduled early redemption payments that correspond to an approximate 10.20% per annum return if triggered. The estimated value on the pricing date is approximately $947 per security. If neither underlier is at or above its buffer level at maturity, the payment equals principal multiplied by (performance factor of the worst performing underlier + 15%), subject to a 15% minimum payment. All payments are unsecured and subject to Morgan Stanley Finance LLC’s and Morgan Stanley’s credit risk.

Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable notes due June 13, 2031 linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. Each security has a $1,000 stated principal amount and may pay a 13.40% contingent coupon on specified observation dates if the underlier meets the coupon barrier.

The notes can be automatically redeemed early if the underlier equals or exceeds the call threshold on a redemption determination date, in which case holders receive principal plus that interest. If not redeemed, maturity proceeds return principal only if the final level is at or above the downside threshold (50% of the initial level); otherwise investors bear losses proportionate to the underlier’s decline.