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 (guaranteed by Morgan Stanley) is offering $7,610,000 in leveraged buffered S&P 500® index-linked notes due November 15, 2027. Each note has a $1,000 face amount and links payoff to the S&P 500® return measured from May 27, 2026 to the determination date.
The notes provide 150% upside participation capped at a $1,165.00 maximum settlement per $1,000 face amount and a 10.00% downside buffer (90.00% Buffer Level). If the final index decline exceeds 10.00%, investors bear proportional losses; estimated trade-date value was $978.50 per note. Payments are unsecured and subject to issuer credit risk; proceeds are for general corporate purposes.
Morgan Stanley Finance LLC is offering $8,824,780 of Trigger Autocallable Notes linked to the Russell 2000® Index, fully and unconditionally guaranteed by Morgan Stanley. The Notes have an Issue Price of $10.00 per Security and an estimated Trade Date value of $9.650 per Security. They mature on May 30, 2031 unless automatically called on quarterly Observation Dates beginning June 3, 2027. The Notes pay a fixed 9.50% per‑annum Call Return Rate (varying Call Returns apply by Observation Date) if an Observation Date Closing Level is at or above the Initial Level; otherwise principal repayment at maturity is contingent on the Final Level relative to a Downside Threshold of 2,202.428 (approximately 75% of the Initial Level). Investors may lose a significant portion or all principal; all payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering auto-callable variable-income notes tied to the worst-performing stock among NVIDIA, Meta Platforms (Class A), Oracle, and Alphabet (Class C). The notes have a $1,000 stated principal per note, aggregate principal of $11,435,000, and mature on May 30, 2031. Coupons are variable: a higher coupon of 9.00% or a lower coupon of 0.25% paid per interest period depending on observation-date thresholds. Automatic early redemption is possible beginning with the May 27, 2027 redemption determination date if all underliers meet their call thresholds; otherwise the notes continue to maturity. The estimated value on the pricing date was $942.50 per note, reflecting issuance, structuring and hedging costs and a $39.50 sales commission per note. All payments depend on the issuer’s credit and the notes are not exchange-listed.
Morgan Stanley Finance LLC priced principal-at-risk auto-callable securities linked to the worst-performing of Citigroup (C) and JPMorgan Chase (JPM) with a stated principal of $1,000 per security. The notes pay no interest, can auto‑redeem starting on May 28, 2027 if each underlier meets its call threshold, and mature on June 1, 2029. Early redemption payments rise over time (scheduled payments correspond to ~19.75% per annum). At maturity investors may receive $1,592.50 if both underliers hit call thresholds, the stated principal if both are above 85% of initial levels, or a principal loss equal to the percentage decline of the worst performing underlier (potentially zero). All payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is offering Partial Principal at Risk Notes tied to the SPDR® Gold Trust that mature on June 11, 2027. Each note has a stated principal amount of $1,000 and an aggregate principal amount of $9,975,000. At maturity the notes pay no interest; investors receive either the stated principal plus an upside payment (100% participation, capped at $1,116 per note) if the underlier appreciates, or a reduced payment that loses 1% of principal for each 1% decline in the underlier, with a partial principal return amount of $950 (95%). Payments are unsecured and subject to Morgan Stanley's credit risk; the observation date is June 8, 2027 ("subject to postponement for non-trading days and certain market disruption events").
Morgan Stanley Finance LLC offers $2,131,000 of Variable Income Auto-Callable Notes due May 30, 2031. Each $1,000 note links to the worst-performing of Palantir (PLTR), Micron (MU) and Qualcomm (QCOM). The notes pay a variable coupon of 10.00% (higher) or 0.25% (lower) per annum on each coupon payment date depending on observation-date barriers, include automatic early redemption on specified dates, and return the stated principal at maturity if not redeemed earlier. The pricing date and strike date were May 27, 2026, original issue date May 29, 2026, final observation date May 27, 2031. The estimated value on the pricing date was $929.40 per note, and selected dealers receive a fixed sales commission of $45 per note.
Morgan Stanley Finance LLC is offering Structured Investments — Variable Income Auto-Callable Notes with an aggregate principal amount of $2,302,000 across notes with a stated principal amount of $1,000 per note. The notes pay a variable monthly coupon of either 10.50% (higher) or 0.25% (lower) depending on observation-date tests tied to the worst performing of four stocks. The notes may be automatically redeemed beginning on May 27, 2027 if all underliers meet call thresholds; maturity is May 30, 2031. Estimated value on the pricing date was $921.50 per note, and purchasers pay an issue price of $1,000 per note that includes selling and structuring costs.
Morgan Stanley Finance LLC priced variable income auto-callable notes linked to the worst performing of four stocks with a $1,000 stated principal amount per note and an aggregate principal amount of $238,000. The notes pay a variable coupon of either 10.00% (higher) or 0.25% (lower) per annum depending on each observation date, may be automatically redeemed beginning on May 27, 2027 if all underliers meet call thresholds, and mature on May 30, 2031.
The notes are unsecured obligations of MSFL with an unconditional guarantee by Morgan Stanley, are not listed, carry the issuer’s credit risk, and had an estimated value on the pricing date of $924.30 per note versus an issue price of $1,000 (agent commission $42.50 per note).
Morgan Stanley Finance LLC issues $1,348,000 of auto-callable notes due May 30, 2031. The notes pay a variable coupon that is either 12.10% (higher) or 0.25% (lower) per annum depending on monthly observation-date tests versus per-underlier coupon barrier levels. The notes reference four equities and pay based on the worst performing underlier; they are unsecured obligations of MSFL fully guaranteed by Morgan Stanley and carry the issuer’s credit risk. The original issue price is $1,000 per note, the aggregate principal amount offered is $1,348,000, and the issuer’s estimated value on pricing was $936.00 per note.
Morgan Stanley Finance LLC is offering Structured Investments — Market-Linked Notes due May 30, 2031 with an aggregate principal amount of $987,000. The notes are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley.
The notes have a stated principal amount of $1,000 per note, an issue price of $1,000, an estimated value on the pricing date of $932.70 per note, and a participation rate of 112% in upside above the initial level (initial level: 604.90). At maturity investors receive the stated principal plus the upside payment if the final level exceeds the initial level; otherwise they receive only the stated principal.
Morgan Stanley Finance LLC priced Principal-at-Risk notes linked to the common stock of Broadcom Inc. (underlier closing level on the strike date: $421.86). The securities are $1,000 each (aggregate $1,643,000), pay a contingent coupon at an annual rate of 15.25% on observation dates when the underlier equals or exceeds the coupon barrier, and may be automatically redeemed early if the underlier meets the call threshold on a redemption determination date. If not redeemed, maturity payment depends on the final level versus the downside threshold ($253.116, 60% of the initial level): if final level is below that threshold, principal is reduced proportionally (performance factor = final level / initial level), potentially to zero. Estimated value on the pricing date was $967.20 per security. All payments are subject to MSFL's and Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC priced contingent-income, memory auto-callable notes linked to NVIDIA Corporation common stock. The offering comprises an aggregate principal amount of $11,392,000 at a stated principal amount of $1,000 per security and an issue price of $1,000 per security. The securities are fully and unconditionally guaranteed by Morgan Stanley and are principal at risk. They pay a contingent coupon at an annual rate of 10.57% on each coupon payment date only if the closing level of the underlier meets the coupon barrier; unpaid coupons may be paid later only if future observation dates meet the coupon barrier. The initial level on the strike date was $212.60, the coupon barrier and downside threshold are $106.30 (50% of the initial level), and the call threshold is $212.60. The estimated value on the pricing date was $967.90 per security. Automatic early redemption, credit risk of the issuer/guarantor, potential loss of principal if final level is below the downside threshold, limited or no coupon payments, and uncertain U.S. federal tax treatment are disclosed as material features and risks.
Morgan Stanley Finance LLC priced a $287,000 aggregate offering of auto-callable structured Jump Notes due June 1, 2033, fully guaranteed by Morgan Stanley. Each note has a stated principal amount of $1,000 and an issue price of $1,000; the estimated value on the pricing date was $919.30 per note.
The notes reference the S&P U.S. Equity Momentum 40% VT 4% Decrement Index with an initial and call threshold level of 1,504.45. Automatic early redemption may occur on annual determination dates beginning May 26, 2027 for fixed early redemption payments that correspond to approximately 8.50% per annum. If not redeemed early, a final-level test on May 26, 2033 determines whether investors receive a positive fixed payment or only the stated principal at maturity.
Morgan Stanley Finance LLC priced market-linked notes: MSFL is issuing structured, non‑interest bearing notes linked to the S&P 500® Futures Excess Return Index with a stated principal amount of $1,000 per note and an aggregate principal amount of $1,135,000. The notes mature on May 31, 2030 with an observation date of May 28, 2030 and pay, at maturity, the stated principal plus 100% participation in positive index performance subject to a maximum payment of $1,587 per note. The initial index level is 604.90. The issue price is $1,000 per note and Morgan Stanley reports an estimated value on the pricing date of $945.80 per note. All payments are unsecured and subject to the issuer’s and guarantor’s credit risk.
Morgan Stanley Finance LLC priced a $1,042,000 offering of principal-at-risk, auto-callable notes tied to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. Each security has a $1,000 stated principal amount and was issued at $1,000 with an estimated value of $904.40 on the pricing date. The notes pay a contingent coupon of 9.55% per annum on observation dates when the underlier is at or above the coupon barrier (70% of the initial level) and can auto-redeem if the index closes at or above the call threshold (≈92% of initial). At maturity investors receive principal only if the final level is at or above the buffer (85% of initial); otherwise losses occur 1% per 1% decline beyond the 15% buffer, subject to a 15% minimum payment.
Morgan Stanley Finance LLC priced market-linked notes tied to the S&P 500® Futures Excess Return Index due May 30, 2031. Each note has a $1,000 stated principal amount, an issue price of $1,000 and a participation rate of 127% to determine any upside payment at maturity.
The notes pay no periodic interest; at maturity investors receive the stated principal plus the upside payment if the final index level exceeds the initial level of 604.90. All payments are subject to the issuer's and guarantor's credit risk, the notes are unsecured and will not be listed.
Morgan Stanley Finance LLC priced $472,000 of Principal at Risk auto-callable securities linked to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index. The securities have a stated principal amount of $1,000 per security, an issue price of $1,000, an estimated value on the pricing date of $908.70, and mature on May 30, 2031.
The notes pay a contingent coupon at an annual rate of 11.00% per annum only if the underlier's closing level on each observation date is at or above the coupon barrier (2,217.402, 60% of the initial level). The securities are automatically redeemed early if the underlier is at or above the call threshold (3,326.103, 90% of the initial level) on any redemption determination date. At maturity, if the final level is below the downside threshold (2,217.402, 60% of the initial level), payment equals principal × (final level / initial level) and could be significantly less than the stated principal, possibly zero. All payments are subject to issuer and guarantor credit risk; MS & Co. will receive fixed selling commissions of $41.50 per security.
Morgan Stanley Finance LLC issued a pricing supplement for Principal at Risk auto-callable securities linked to The Scotts Miracle-Gro Company common stock. The securities have a stated principal amount of $1,000 per security, an aggregate principal amount of $4,863,000, an estimated value on the pricing date of $955.90 and mature on June 1, 2029.
The notes pay a contingent coupon at an annual rate of 11.75% only if the underlier meets the coupon barrier on observation dates; they auto‑redeem if the underlier closes at or above $61.13 (the call threshold) on any redemption determination date. If not auto‑redeemed, principal at maturity depends on the final level versus the downside threshold of $30.565 (50% of the initial level), and investors can lose principal in direct proportion to the underlier’s decline.
The pricing supplement for Morgan Stanley Finance LLC offers Principal at Risk securities linked to the Class A common stock of CoreWeave, Inc. The offering aggregates to $750,000 with a stated principal amount of $1,000 per security and an issue price of $1,000. The notes pay a contingent coupon at an annual rate of 28.90% on observation dates when the closing level of the underlier meets or exceeds the coupon barrier of $62.562 (60% of the initial level). The securities are automatically redeemable if the closing level meets or exceeds the call threshold of $104.27 on redemption determination dates; otherwise payments at maturity depend on the final level and may result in full loss of principal if the final level is below the downside threshold of $62.562. All payments are unsecured and subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC priced Callable Jump Notes due May 30, 2031, fully guaranteed by Morgan Stanley. The notes have a $1,000 stated principal amount and were issued at $1,000 per note with an estimated value of $929.50 on the pricing date. The notes do not pay periodic interest and include a discretionary call feature beginning June 2, 2027: Morgan Stanley may redeem the notes on specified redemption dates if a risk‑neutral valuation model indicates redemption is economically rational. If not redeemed, maturity payment equals the stated principal plus an upside payment = $1,000 × 130% × underlier percent change, where the initial level is 604.90 and the observation date is May 27, 2031. Redemption payments are fixed amounts per schedule; early redemption ends further payments. All payments are subject to Morgan Stanley’s credit risk; the notes are unsecured and not exchange‑listed.
Morgan Stanley Finance LLC is offering $7,866,000 aggregate principal amount of buffered, auto-callable principal-at-risk notes due May 30, 2031, fully 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 S&P U.S. Equity Momentum 40% VT 4% Decrement Index with an initial/strike level of 1,503.18, a buffer level of 1,277.703 (85%) and automatic early-redemption observation dates beginning May 28, 2027. Early redemption payments escalate across scheduled determination dates (first listed: $1,180 on #1) and a payment at maturity of $1,900 if the final level is at or above the call threshold. Investors face principal loss if the final level is below the buffer, subject to a 15% minimum payment.
The issuer, Morgan Stanley Finance LLC, priced a series of principal‑at‑risk Structured Investments—Buffered Jump Securities—based on the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. The securities were issued at a $1,000 stated principal amount per security and aggregate principal of $1,977,000, with an estimated value on the pricing date of $903.00 per security.
The notes include an automatic early‑redemption feature beginning on the first determination date of May 28, 2027 and fixed early redemption payments that imply approximately 19.50% per annum if triggered. If not redeemed, maturity occurs on May 30, 2031 with payoff mechanics: full positive fixed payment if the final level is at or above the call threshold (1,503.18), return of principal if the final level is at or above the buffer (1,277.703), or loss of principal beyond the 15% buffer (with a 15% minimum payment) if the final level is below the buffer.
Morgan Stanley Finance LLC priced auto-callable structured notes linked to the worst-performing of the EURO STOXX 50® Index and the Russell 2000® Index with a stated principal amount of $1,000 per security and an aggregate principal amount of $4,185,000.
The notes pay no interest, carry principal-at-risk exposure if the worst-performing underlier falls below its 70% downside threshold, and include automatic early redemption opportunities that deliver fixed early redemption payments if both underliers meet their 100% call thresholds on a determination date. All payments are subject to MSFL’s credit risk and guaranteed by Morgan Stanley.
Morgan Stanley Finance LLC priced contingent income auto-callable securities based on Amazon.com, Inc. common stock. The notes have a $1,000 stated principal amount, an aggregate principal amount of $1,550,000 and a 10.00% annual contingent coupon payable only if the underlier meets observation-date barriers. The securities mature on June 1, 2029 with a final observation date of May 29, 2029. Automatic early redemption may occur on specified observation/redemption determination dates if the closing level of the underlier is at or above the call threshold of $271.85 (100% of the initial level). If not redeemed and the final level is below the downside threshold of $190.295 (70% of initial), payment at maturity is reduced pro rata by the performance factor and may be significantly less than principal.
Morgan Stanley Finance LLC priced callable Jump Notes linked to the worst performing of the Russell 2000® and the S&P 500®. The notes have a $1,000 stated principal amount, an original issue price of $1,000 and an estimated value of $942.50 on the pricing date. They mature on May 30, 2031 and may be called beginning June 2, 2027 if a risk neutral valuation model indicates redemption is economically rational. Redemption payments are fixed by date and increase over time, starting at $1,100.00 per note on June 2, 2027. At maturity, if neither underlier is at or below its initial level, investors receive principal plus an upside payment equal to 100% participation in the worst performing underlier; if either underlier is equal to or below its initial level, investors receive only principal. All payments are subject to the issuer’s credit risk and the notes are unsecured and unlisted.
Morgan Stanley Finance LLC priced Buffered Jump Securities due May 30, 2031, linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. The issue is $1,000 per security ($4,622,000 aggregate) with an estimated value of $904.40 on the pricing date. The notes feature automatic early redemption beginning May 27, 2027 if the underlier closes at or above the call threshold level (1,504.45) on a determination date, with scheduled early redemption payments that escalate and a final buffer of 85% (buffer level 1,278.783). If not called, maturity payments depend on the final index level: full fixed positive return if at-or-above the call threshold, return of principal if at-or-above the buffer, or principal reduced proportionally for declines beyond the buffer (subject to a 15% minimum payment). All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley and subject to issuer credit risk.
Morgan Stanley Finance LLC is offering $1,095,000 aggregate principal of callable contingent income securities (principal at risk) with a $1,000 stated principal amount per security. The securities pay a contingent coupon of 11.15% per annum on applicable coupon dates only if the closing level of each underlier meets its coupon barrier on the related observation date, are callable beginning March 3, 2027 based on a risk neutral valuation model determination, and mature on November 30, 2028. Payment at maturity depends on the worst performing underlier: if every underlier's final level is at or above its downside threshold, investors receive principal; if any underlier is below its downside threshold, the maturity payment equals the stated principal multiplied by the worst performing underlier’s performance factor, producing proportional principal loss (which could be total). All payments are unsecured and subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is offering structured, principal‑at‑risk notes due November 29, 2029 that are fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and the aggregate issuance is $1,104,000. Payout depends on the Russell 2000® Index performance measured on the observation date. If the final level is at or above the buffer level (85% of the initial level) holders receive the stated principal plus a fixed $291 upside payment (29.10%). If the final level is below the buffer level, holders lose 1% of principal for each 1% decline beyond the 15% buffer, subject to a minimum payment of 15% of principal. The securities pay no interest, have an estimated value on the pricing date of $957.90 per security, and include agent commissions of $30.50 per security. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering $446,000 aggregate principal of market-linked notes due May 29, 2031, fully and unconditionally guaranteed by Morgan Stanley. The notes pay no interest and return the stated principal at maturity; if the EURO STOXX 50® final level exceeds the initial level (6,064.15), holders receive the stated principal plus an upside payment equal to the appreciation times a 106.50% participation rate. The issue price is $1,000 per note, the estimated value on the pricing date was $934.80 per note, and selected dealers receive a $40 commission per note.
The notes are unsecured obligations of the issuer and expose investors to issuer credit risk, limited secondary-market liquidity, and taxation as contingent payment debt instruments (comparable yield 4.9072%). Payment at maturity depends solely on the closing level of the EURO STOXX 50® on the observation date; the notes are not listed on any exchange.
Morgan Stanley Finance LLC offers Structured Investments — Enhanced Buffered Jump Securities linked to the S&P 500® Index. The pricing supplement sets a $1,000 stated principal amount per security and an aggregate principal amount of $14,253,000. The securities mature on December 1, 2027 and pay no interest; repayment at maturity depends on the closing level of the S&P 500 on the observation date (November 26, 2027.
If the final level is ≥ the buffer level (85% of the initial level), holders receive the stated principal plus a fixed upside payment of $119.50 per security. If the final level is below the buffer, holders incur a loss of 1.1765% of principal for each 1% decline beyond the 15% buffer; there is no minimum payment and investors could lose their entire investment. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering $550,000 in market‑linked notes due November 26, 2027 that are fully and unconditionally guaranteed by Morgan Stanley. Each note has a $1,000 stated principal amount, an issue price of $1,000 and an estimated value on the pricing date of $989.
Payments at maturity depend on the worst performing of the Dow Jones Industrial Average and the S&P 500® Index. Investors receive principal at maturity if either underlier is at or below its strike level; if the worst performing underlier is above its initial level, holders receive the stated principal plus 100% participation in that underlier’s appreciation, capped at a maximum payment of $1,127.50 per note. All payments are subject to issuer credit risk, the notes pay no interest and are not listed for trading.
Morgan Stanley Finance LLC priced Principal at Risk Auto-Callable Securities due May 30, 2031. Each note has a stated principal amount of $1,000 and an issue price of $1,000. The securities pay a contingent coupon (annual rate 10.15%) only if each underlier meets its coupon barrier on observation dates and may be automatically redeemed early if all underliers meet their call thresholds on a redemption determination date.
The notes are linked to the worst performing of four underliers (Alphabet Class C, Microsoft, Nasdaq-100 and S&P 500), do not guarantee principal, and expose investors to credit risk of Morgan Stanley and potential full loss of principal if the worst performing underlier falls below its downside threshold at maturity.
Morgan Stanley Finance LLC is offering principal-at-risk auto-callable notes tied to the worst performing of the Dow Jones Industrial Average and the State Street SPDR S&P Regional Banking ETF. The securities are issued at $1,000 per security with aggregate principal of $100,000 and mature on March 2, 2028.
The notes pay a contingent coupon at an annual rate of 9.00% on each coupon date only if both underliers meet their coupon barrier levels on the related observation dates; unpaid coupons may be paid later only if conditions are met. If not auto‑redeemed, redemption at maturity returns principal only if each underlier is at or above its downside threshold (70% of initial levels); otherwise payment equals the stated principal multiplied by the worst performing underlier’s performance factor, which can result in a substantial loss of principal.
Morgan Stanley Finance LLC priced $3,011,000 of Principal at Risk securities, guaranteed by Morgan Stanley. The notes pay a fixed coupon of 7.00% per annum, mature on May 30, 2031 and can be automatically redeemed beginning on May 26, 2027. The securities reference the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index, do not participate in upside of the underlier, and provide a 15% buffer (buffer level 1,278.783 of initial level 1,504.45) before principal loss; minimum payment at maturity is 15% of principal. Issue price was $1,000 per security (estimated value on pricing date: $919.30), with agent commission of $41 per security.
Morgan Stanley Finance LLC is offering principal-at-risk notes tied to Amazon.com, Inc. common stock that pay a fixed annual coupon of 10.08% and mature on June 2, 2027. The securities are issued at $1,000 per security with an aggregate principal amount of $2,110,000 and an estimated value on the pricing date of $985.70. If the closing level of the underlier on the observation date is at or above the downside threshold ($185.703, 70% of the initial level), holders receive principal at maturity; if it is below that threshold, repayment is the stated principal multiplied by the performance factor (final level / initial level), exposing holders to possible loss of principal, potentially to zero. All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC offers Principal at Risk structured notes totaling $475,000 under a pricing supplement for Dual Directional Trigger Jump Securities due May 30, 2031, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an issue price of $1,000 per security; estimated value on the pricing date was $938.10 per security. Payment at maturity depends on the S&P 500® Futures Excess Return Index: investors receive principal plus an upside feature if the final level is at or above the initial level (initial level 604.90), a capped positive return if the final level declines but remains at or above a 70% downside threshold (423.43), or a pro rata loss of principal below that threshold (1% loss per 1% index decline). The securities pay no interest, are unsecured obligations of MSFL, and expose holders to issuer credit risk and potential total loss of principal.
Morgan Stanley Finance LLC issues Structured Investments — Buffered Jump Securities with an aggregate principal amount of $4,000,000, fully and unconditionally guaranteed by Morgan Stanley. The notes have a stated principal amount of $1,000 per security and a fixed upside payment of $118.50 (11.85% of principal) at maturity if the final level of the S&P 500® Index is greater than or equal to the initial level. These principal-at-risk securities provide a 10% built-in buffer (buffer level = 90% of the initial level) before investors incur proportional losses beyond the buffer. The initial level is 7,519.12; the buffer level is 6,767.208. The observation date is June 22, 2027 and the maturity date is June 24, 2027. Payments are subject to the issuer’s and guarantor’s credit risk and the securities do not pay interest; a minimum payment at maturity is 10% of principal.
Morgan Stanley Finance LLC is offering Buffered PLUS principal-at-risk notes linked to the S&P 500® Index with a $1,000 stated principal amount per security and an aggregate principal amount of $100,000. The securities mature on May 30, 2031 and provide 125% leveraged upside subject to a 156% maximum payment and a 10% downside buffer. If the index is at or above the buffer on the observation date, holders receive principal; if below the buffer, holders lose 1% of principal for each 1% decline beyond the 10% buffer, subject to a 10% minimum payment.
Morgan Stanley Finance LLC is offering structured, principal‑at‑risk notes linked to the EURO STOXX 50® Index with a $1,000 stated principal per security and an aggregate offering of $3,514,000. The notes can auto‑call on the first determination date (June 2, 2027) if the index closing level is at or above the call threshold (6,064.15), producing an early redemption payment of $1,100 per security. If not called, maturity is May 29, 2031; payout at maturity depends on index performance with a 200% participation rate for appreciation, a downside threshold at 50% of the initial level (3,032.075), and full exposure to losses below that threshold. The estimated value on the pricing date was $952.30 per security; the securities are unsecured obligations of MSFL and are guaranteed by Morgan Stanley, and all payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is offering Principal at Risk securities due June 1, 2029 linked to the worst performing of the iShares® Silver Trust (SLV) and the SPDR® Gold Trust (GLD). Each security has a stated principal amount of $1,000 and an upside payment of $670 (67% of principal) if both underliers finish at or above their 70% downside thresholds on the observation date. If the final level of either underlier is below its downside threshold, holders lose 1% of principal for each 1% decline in the worst performing underlier; there is no minimum payment and the securities could pay zero at maturity. The offering aggregates $1,650,000; the issue price per security is $1,000 and the estimated value on the pricing date is $972.00. All payments are subject to Morgan Stanley Finance LLC and Morgan Stanley credit risk, and MS & Co. acts as agent and calculation agent.
Morgan Stanley Finance LLC priced $598,000 of Structured Jump Notes linked to the Morgan Stanley Amplitude Index, fully guaranteed by Morgan Stanley. The notes have a $1,000 stated principal per note, no periodic interest, a participation rate of 100% and an automatic early redemption feature beginning on May 26, 2027 with fixed early redemption payments that imply approximately 10.50% per annum. At maturity on June 1, 2033, holders receive principal plus any upside if the final index level exceeds the initial level (initial level: 207.78); otherwise they receive only principal. All payments are subject to the issuers and guarantors credit risk. The estimated value on the pricing date was $903.10 per note; the issue price was $1,000 per note (agents commission $42.50 per note).
Morgan Stanley Finance LLC offers Principal at Risk Contingent Income Auto-Callable Securities due December 1, 2027, fully and unconditionally guaranteed by Morgan Stanley. The offering is linked to the worst performing of the Dow Jones Industrial Average (INDU) and the State Street® Energy Select Sector SPDR® ETF (XLE) and has a stated principal amount of $1,000 per security.
The securities pay a contingent coupon of 9.25% per annum only if on each observation date both underliers are at or above their coupon barrier levels (75% of initial levels). Automatic early redemption may occur on specified dates if both underliers meet call thresholds (100% of initial levels). At maturity, if either underlier is below its downside threshold (75% of initial level), holders suffer a proportional loss tied to the worst performing underlier; principal could be significantly reduced or zero. All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC is offering $408,000 aggregate principal of structured, market-linked notes due May 30, 2031, fully and unconditionally guaranteed by Morgan Stanley. The notes reference the S&P 500® Futures Excess Return Index, have a 144% participation rate in upside and return the stated principal at maturity if the final level is equal to or below the initial level.
The notes were issued at $1,000 per note (estimated value on the pricing date: $971.50), have an initial level of 604.90 (strike date May 26, 2026), an observation date of May 27, 2031 and are unsecured obligations of MSFL with payments subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC priced contingent income auto-callable notes tied to Chewy, Inc. Class A common stock. The notes have a $1,000 stated principal amount, $1,000 issue price and aggregate principal of $650,000. They pay a contingent coupon at an annual rate of 15.90% on observation dates only if Chewy's closing level is at or above the $12.714 coupon barrier (60% of the initial level). The notes are auto‑callable if Chewy's closing level is at or above $21.19 (the call threshold) on any redemption determination date, in which case investors receive principal plus any payable coupons. If not auto‑redeemed, maturity payment returns principal only if the final level is at or above the downside threshold of $12.714 (60%); if below, repayment equals the stated principal multiplied by final/initial level, exposing investors to full downside. All payments are subject to issuer and guarantor credit risk and the securities do not guarantee principal or regular interest.
Morgan Stanley Finance LLC is offering Trigger PLUS notes due May 31, 2030, fully guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and returns are linked to the worst performing of the Russell 2000® and S&P 500® indices. At maturity investors either receive principal plus a 130% leveraged upside if the worst performing underlier is up, full principal if the worst performing underlier is down but remains at or above 75% of its initial level, or suffer a pro rata loss if the worst performing underlier declines below that threshold. All payments are subject to Morgan Stanley's credit risk; the securities pay no interest and have no guaranteed minimum payment.
Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable securities due May 31, 2030 that are fully and unconditionally guaranteed by Morgan Stanley. The securities have a stated principal amount of $1,000 per security and an aggregate principal amount of $330,000.
The securities are linked to the worst performing of the S&P 500, Nasdaq-100 and Dow Jones Industrial indices, carry a 150% participation rate for upside at maturity, and feature automatic early redemption opportunities beginning with the first determination date on May 28, 2027. The securities do not pay interest, expose investors to issuer credit risk and can result in a total loss of principal if the worst performing underlier falls below its downside threshold (70% of its initial level).
Morgan Stanley Finance LLC is offering Principal at Risk, contingent income auto-callable securities linked to NVIDIA Corporation common stock with a stated principal of $1,000 per security and aggregate principal of $3,590,000. The securities pay a contingent coupon at an annual rate of 14.50% only if the underlier meets the coupon barrier on observation dates and are automatically redeemed if the underlier meets the call threshold on any redemption determination date. The initial level (strike) was $214.86 and the coupon barrier and downside threshold are $128.916 (60% of initial level). If not auto‑redeemed, maturity is July 1, 2027; if the final level is below the downside threshold, payment at maturity equals principal multiplied by the performance factor and could be significantly less than, or equal to zero, reflecting full principal risk. All payments are subject to the issuer’s and guarantor’s credit risk.
Morgan Stanley Finance LLC is offering principal-at-risk structured notes—Buffered Jump Securities with an auto-callable feature tied to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. The terms state a $1,000 stated principal per security, aggregate principal of $2,660,000, an estimated value on the pricing date of $902.30, a 15% buffer and a final maturity of May 30, 2031. Automatic early redemption can occur on scheduled determination dates beginning May 27, 2027 if the underlier is at or above the call threshold (1,354.005). If not auto-redeemed, the maturity payoff is determined by the final level relative to the buffer and initial level (initial level 1,504.45); downside beyond the buffer reduces principal 1% per 1% decline, subject to a 15% minimum payment.
Morgan Stanley Finance LLC priced a primary offering of $25,834,000 in Buffered Digital Basket-Linked Notes due August 25, 2028, fully and unconditionally guaranteed by Morgan Stanley. The notes have a $1,000 face amount and return at maturity depends on a weighted basket of five international equity indices with an Initial Basket Level of 100, a Buffer Level of 90 and a Threshold Settlement Amount of $1,253.30 per $1,000 Face Amount. If the Final Basket Level is at or above 100 you may receive at least the Threshold Settlement Amount or the return linked to the basket; if the Final Basket Level is below 90 you will suffer a proportional loss, potentially losing your entire investment. The trade date was May 27, 2026, Original Issue Date June 1, 2026, Determination Date August 23, 2028 and Stated Maturity Date August 25, 2028.
Morgan Stanley Finance LLC is offering structured, principal-at-risk notes due May 30, 2031 that are fully guaranteed by Morgan Stanley. The securities have a stated principal amount of $1,000 per security and aggregate principal amount of $1,228,000. They pay a contingent coupon of 9.50% per annum only when the closing level of the S&P U.S. Equity Momentum 40% VT 4% Decrement Index is at or above the coupon barrier on specified observation dates, feature automatic early redemption if the index meets a 90% call threshold on a redemption determination date, and provide a buffer amount of 15% with a minimum payment at maturity equal to 15% of principal. All payments are subject to the issuer's and guarantor’s credit risk, and the estimated value on the pricing date was $902.60 per security.