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 (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Callable Contingent Income Securities due July 27, 2028, linked to the worst performer of the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index. Each security has a stated principal amount of $1,000 and an original issue price of $1,000.
Investors may receive a 10.40% per annum contingent coupon on scheduled coupon dates, but only if on each observation date all three indices are at or above their respective coupon barrier levels, set at 70% of initial index levels. If not, no coupon is paid for that period. The notes are callable in whole, starting August 27, 2027, if a risk neutral valuation model indicates redemption is economically rational for Morgan Stanley. If not called, and at maturity every index is at or above its downside threshold (also 70% of initial level), investors receive principal back plus any final contingent coupon; if any index is below its downside threshold, repayment is reduced 1% for each 1% decline of the worst-performing index, potentially to zero. The estimated value on the pricing date is approximately $980.80 per security, and all payments are subject to the credit risk of Morgan Stanley.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Jump Securities with an auto-call feature due September 4, 2031, linked to the worst performer of the EURO STOXX 50, Nasdaq-100 and S&P 500 indices. Each note has a $1,000 stated principal amount and is fully and unconditionally guaranteed by Morgan Stanley.
The notes may be automatically redeemed on annual determination dates starting September 3, 2027 if each index is at or above its call threshold (initial level), paying an early redemption amount corresponding to about 12.50%–13.50% per annum. If held to maturity and all indices are at or above their call thresholds, investors receive $1,625–$1,675 per security; if any index is below its call threshold but all are at or above 70% of initial, investors receive only principal. If any index finishes below 70% of its initial level, repayment is reduced 1% for every 1% decline of the worst-performing index, potentially to zero.
The estimated value on the pricing date is approximately $943.10 per $1,000 security, reflecting issuance, selling, structuring and hedging costs. The notes pay no interest, offer no participation in index appreciation, are unsecured obligations subject to Morgan Stanley’s credit risk, and may have limited or no secondary market liquidity.
Morgan Stanley (MS), via Morgan Stanley Finance LLC, is offering Contingent Income Memory Buffered Auto-Callable Securities due September 16, 2031, linked to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index. Each note has a $1,000 stated principal amount and issue price of $1,000, with an estimated value on the pricing date of about $923.20 per security, reflecting issuance, selling, structuring and hedging costs borne by investors.
The notes pay a contingent coupon at 9.60% per annum, only if on an observation date the underlier closes at or above a coupon barrier equal to 70% of the initial level; missed coupons may be paid later (“memory”) if a future observation meets the barrier. The notes are automatically callable quarterly from December 11, 2026 if the underlier is at or above a call threshold equal to 100% of the initial level, returning principal plus due and unpaid coupons. At maturity, if not called and the final underlier level is at or above a buffer level equal to 85% of the initial level, investors receive full principal (plus any payable coupons). If the final level is below the buffer, principal is reduced 1% for each 1% decline beyond the 15% buffer, but not below a minimum payment of 15% of principal, meaning investors could lose a significant portion of their investment.
The underlier is a rules-based, volatility-targeting index with 4.0% per annum daily decrement, leverage and intraday rebalancing, and was established on August 30, 2024, so pre‑2024 performance is hypothetical and back-tested. All payments depend on the credit of Morgan Stanley Finance LLC and Morgan Stanley, the notes are unsecured and not bank deposits or FDIC insured, secondary market liquidity may be limited, and U.S. tax treatment is uncertain.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Jump Securities with an auto-call feature due September 2, 2031, linked to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index and fully and unconditionally guaranteed by Morgan Stanley.
The securities are issued at $1,000 per note, with an estimated value of about $938.30, and pay no interest. They auto-redeem on September 3, 2027 for $1,265 per security if the index is at or above 90% of its initial level on the first determination date. If held to maturity and not called, investors receive principal plus a 335% participation in any index gain, full principal back if the index is between 50% and 100% of its initial level, and a 1-for-1 loss below 50% of the initial level, potentially losing the entire investment.
The underlier is a leveraged, volatility-targeting futures index with a 4% per annum decrement and limited live history, relying heavily on hypothetical back-tested data, and all payments are subject to Morgan Stanley’s credit risk.
MORGAN STANLEY (MS), via Morgan Stanley Finance LLC, is offering principal-at-risk Callable Contingent Income Securities due June 6, 2028, linked to the worst performer among the Nasdaq-100 Technology Sector Index, Russell 2000 Index and S&P 500 Index, and fully and unconditionally guaranteed by Morgan Stanley.
Investors may receive an annual 11.00% contingent coupon, paid only if on each observation date all three indices close at or above their respective coupon barrier levels, set at 70% of each index’s initial level. If any index is below its barrier on an observation date, no coupon is paid for that period.
Starting March 4, 2027, the notes are callable in whole on scheduled redemption dates only if a risk neutral valuation model indicates early redemption is economically rational for Morgan Stanley. At maturity, if not called and every index is at or above its downside threshold level, set at 60% of its initial level, investors receive principal back (plus any final coupon). If any index finishes below its downside threshold, principal is reduced 1% for each 1% decline of the worst-performing index, potentially to zero. The estimated value on the pricing date is approximately $980.40 per $1,000 security, reflecting issuance, structuring and hedging costs and Morgan Stanley’s funding rate.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering callable contingent income securities due June 2, 2031, linked to the worst performer of the Russell 2000 Index, S&P 500 Index and State Street Technology Select Sector SPDR ETF. Each security has a $1,000 principal amount and pays a 12.00% per annum contingent coupon only if, on each observation date, all three underliers are at or above 70% of their initial levels.
If the notes are not redeemed and, on the final observation date, all underliers are at or above 60% of their initial levels, investors receive $1,000 plus any final contingent coupon; otherwise, repayment is reduced in proportion to the worst underlier and can fall to zero. The issuer may redeem the notes early, starting March 3, 2027, based on a risk neutral valuation model. The estimated value on the pricing date is approximately $976.70 per security, below the $1,000 issue price, reflecting issuance, structuring and hedging costs and issuer economics. All payments are subject to the credit risk of Morgan Stanley Finance LLC and Morgan Stanley.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Enhanced Trigger Jump Securities due October 7, 2027, linked to the worst performance of the Russell 2000 Index and the S&P 500 Index. Each security has a $1,000 stated principal amount and pays no interest. If, on the October 4, 2027 observation date, the final level of each index is at or above 70% of its initial level, holders receive $1,000 plus a fixed $98 upside payment (a 9.80% return), regardless of how much the indices have risen. If either index closes below 70% of its initial level, the maturity payment is $1,000 multiplied by the performance factor of the worst-performing index, resulting in a 1% loss of principal for each 1% decline in that index and potentially a zero return of principal. The notes are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley, with an estimated value on the pricing date of approximately $990.20 per security, and are subject to Morgan Stanley’s credit risk and limited secondary-market liquidity.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering Trigger PLUS structured notes due September 23, 2031, linked to the S&P 500® Futures Excess Return Index. The notes pay no interest and do not guarantee return of principal.
At maturity, if the index is above its initial level, investors receive the $1,000 principal plus 210% of the index gain. If the index is at or below the initial level but at or above 50% of the initial level, investors receive only principal. Below this downside threshold, repayment is reduced 1% for each 1% index decline, with no minimum, so the investment can be fully lost.
The notes are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley, and all payments are subject to Morgan Stanley’s credit risk. The estimated value on the pricing date is approximately $976.70 per $1,000 note due to issuance, structuring and hedging costs. Liquidity may be limited, and U.S. tax treatment is described as uncertain, with a prepaid financial contract approach considered reasonable but not binding on the IRS.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Callable Contingent Income Securities due August 29, 2029, linked to the worst performer of the Dow Jones Industrial Average, Nasdaq-100® Technology Sector Index and Russell 2000® Index. Each security has a $1,000 stated principal amount and pays an annual 11.40% contingent coupon only when all three indices are at or above 70% of their initial levels on the relevant observation date.
The notes are callable at the issuer’s option on scheduled redemption dates starting November 30, 2026, but only if a risk neutral valuation model indicates early redemption is economically rational for Morgan Stanley. If not called, and all indices finish at or above 60% of their initial levels, investors receive principal back (plus any final coupon). If any index ends below 60%, repayment is reduced 1% for each 1% decline of the worst-performing index, potentially to zero. The estimated value on the pricing date is $979.20 per security, below the $1,000 issue price, reflecting issuance, structuring and hedging costs borne by investors.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Trigger PLUS securities linked to the worst performer of the Dow Jones Industrial Average℠ and the S&P 500® Index, maturing on August 29, 2031. Each note has a stated principal of $1,000 and pays no interest.
At maturity, if both indices finish above their initial levels, holders receive $1,000 plus a leveraged upside payment based on at least 128% of the appreciation of the worst-performing index. If either index is at or below its initial level but both remain at or above 70% of their initial levels, investors receive only the $1,000 principal. If either index ends below 70% of its initial level, repayment is reduced 1% for each 1% decline of the worst performer, with no minimum, so principal could be fully lost.
The securities are unsecured obligations of Morgan Stanley Finance LLC, fully and unconditionally guaranteed by Morgan Stanley, and all payments depend on Morgan Stanley’s credit. The estimated value on the pricing date is approximately $956.30 per $1,000 note, reflecting issuance, selling, structuring and hedging costs and the issuer’s funding spread. The notes are intended for investors who can tolerate full loss of principal, accept exposure to a single observation date, and understand the complex tax and liquidity risks.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk structured notes linked to the worst performer of the Nasdaq-100® Technology Sector Index and the S&P 500® Index. Each security has a $1,000 stated principal amount, prices at $1,000, and matures on October 6, 2027, subject to automatic early redemption.
The notes pay a contingent coupon at 10.70% per annum, only if on each observation date both indices close at or above their respective coupon barrier levels, set at 80% of initial level. The same 80% level also serves as the downside threshold; if at maturity either index is below its downside threshold, the repayment of principal is reduced 1% for each 1% decline of the worst-performing index, potentially to zero. Automatic early redemption can occur quarterly from March 1, 2027 if both indices are at or above their 100% call threshold levels, paying principal plus the coupon for that period.
The notes are unsecured obligations of Morgan Stanley Finance LLC, fully and unconditionally guaranteed by Morgan Stanley, and all payments are subject to their credit risk. The estimated value on the pricing date is approximately $969 per security, reflecting embedded issuance, selling, structuring and hedging costs. U.S. federal income tax treatment is uncertain; the issuer expects to treat the notes as prepaid financial contracts with associated coupons.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk structured notes linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index, maturing August 28, 2031, at an issue price of $1,000 per security and an estimated value on the pricing date of approximately $909.60.
The notes pay a contingent coupon at 9.15% per annum, only if the index is at or above a coupon barrier set at 60% of the initial level on each observation date; missed coupons can be paid later if the barrier is met. The notes are auto-callable quarterly from August 2027 if the index is at or above 90% of the initial level, returning principal plus due coupons.
If not called, and at maturity the index is at or above a buffer level of 85% of the initial level, investors receive full principal plus any contingent coupon; below that, principal is reduced 1% for each 1% decline beyond the 15% buffer, subject to a minimum payment of 15% of principal. All payments depend on Morgan Stanley’s credit. The index level was 1,397.92 on August 14, 2026.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Contingent Income Auto-Callable Securities due September 5, 2031, linked to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index and fully guaranteed by Morgan Stanley.
The notes pay a 15.10% per annum contingent coupon only if, on each observation date, the index is at or above a coupon barrier equal to 70% of the initial level. They are automatically redeemed at par plus the coupon if, on any redemption determination date from February 26, 2027 onward, the index is at or above the call threshold set at 100% of the initial level.
If not called, at maturity investors receive par only if the final index level is at or above a downside threshold equal to 60% of the initial level; otherwise, the payoff is fully exposed to index declines (1% loss of principal per 1% index drop), and can be zero. The issue price is $1,000 per security and the estimated value on the pricing date is approximately $904.60, reflecting embedded costs. The underlier is a relatively new, rules-based, leveraged futures index with a 4.0% per annum decrement and limited live history, adding strategy and model risk, and all payments depend on Morgan Stanley’s credit.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering $7,141,900 of Trigger Autocallable Contingent Yield Notes linked to the S&P 500 Index, maturing on August 16, 2029 and fully guaranteed by Morgan Stanley. Each note has a $10 principal amount and pays a quarterly Contingent Coupon of $0.21375 (an annual rate of 8.55%) only if the S&P 500 closing level on the Observation Date is at or above the Coupon Barrier of 5,839.32, which is 75% of the Initial Level of 7,785.76.
Beginning February 16, 2027, the notes are automatically called if the index is at or above the Initial Level on an Observation Date, in which case investors receive principal plus the applicable coupon and the product terminates. If not called and, at final valuation, the index is at or above the Downside Threshold (also 5,839.32), investors receive principal plus the final coupon; otherwise, repayment is $10 × (1 + Underlying Return), exposing investors to the full downside of the index and potentially a total loss of principal. The notes are unsecured obligations subject to Morgan Stanley’s credit risk, have an estimated value of $9.93 per $10 note on the trade date, and are intended for investors who understand equity-linked, principal-at-risk structures and can tolerate no coupons and significant loss of capital.
Morgan Stanley, via Morgan Stanley Finance LLC, is offering market-linked, principal-at-risk securities (symbol MS) tied to an unequally weighted basket of five foreign equity indices, maturing on August 17, 2029 and fully and unconditionally guaranteed by Morgan Stanley.
Each $1,000 security pays no interest and may be auto‑called on August 19, 2027 for a fixed call payment of $1,104 (10.40%) if the basket is at or above its starting level. If not called, at maturity holders receive: $1,000 plus 150% of any basket gain; $1,000 if the basket is down up to 10%; or $1,000 plus basket return plus a 10% buffer if the basket has fallen more than 10%, implying up to a 90% loss of principal.
The basket weights are EURO STOXX 50 (40%), Nikkei 225 (25%), FTSE 100 (17.5%), Swiss Market Index (10%) and S&P/ASX 200 (7.5%). Public offering size is $1,000,000 (1,000 notes) at $1,000 each; estimated value on the pricing date is $959.70 per security, reflecting embedded costs and hedging.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering Buffered Performance Leveraged Upside Securities ("Buffered PLUS") linked to an equally weighted basket of ten U.S. and international stocks, under its Series A global medium‑term note program. The notes have a stated principal amount of $1,000 each, aggregate principal of $1,371,000, price at par, and mature on March 3, 2028, with a valuation date of February 29, 2028. They pay no coupons and are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley, with all payments subject to Morgan Stanley’s credit risk.
The basket is equally weighted (10% each) across ten stocks, including Amazon, NVIDIA, Northrop Grumman, Linde and SpaceX (SPCX). At maturity, investors receive $1,000 plus 150% of the basket’s positive percentage change, capped at a maximum payment of $1,271.50 (127.15% of principal). If the basket declines by up to the 10% buffer, repayment is at par; below that, losses are 1% for each 1% drop beyond 10%, with a minimum payment of $100, implying up to 90% principal loss. The estimated value on the pricing date is $931.20 per note, below issue price, reflecting structuring and hedging costs and a dealer discount of $25 per note. The notes will not be listed on any securities exchange, and secondary liquidity depends on Morgan Stanley & Co. making a market.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
Morgan Stanley (MS), via Morgan Stanley Finance LLC, is offering principal-at-risk “Buffered Jump Securities with Auto-Callable Feature and Downside Factor” due August 17, 2028, linked to the Global X Copper Miners ETF. Each note has a $1,000 stated principal amount, issue price $1,000 and aggregate principal of $4,494,000, fully and unconditionally guaranteed by Morgan Stanley.
The note auto-calls on September 2, 2027 if the ETF’s closing level on August 30, 2027 is at least the initial level of $85.70, paying a fixed $1,210 per security. If not called, at maturity investors receive: (i) principal plus the greater of a fixed $420 “upside payment” or 100% of ETF appreciation if the final level is at least the initial level; (ii) principal only if the final level is between the 70% buffer level of $59.99 and the initial level; or (iii) a reduced amount reflecting a 1.4286% loss for each 1% decline below the 30% buffer, with no minimum payment, if the final level is below the buffer.
The estimated value on the pricing date is $971.70 per security, below the issue price due to embedded costs. Payments depend on Morgan Stanley’s credit and are not FDIC insured. The ETF’s concentration in copper miners introduces sector and commodity-related volatility risks.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering $2,000,000 of Fixed Income Auto-Callable Securities due August 17, 2029, linked to the S&P U.S. Equity Momentum 40% VT 4% Decrement Index. Each security has a $1,000 principal amount and pays a fixed coupon at 9.00% per annum, with monthly payments.
The notes may be automatically redeemed on scheduled dates if the index closes at or above the call threshold level of 1,397.92. If not redeemed and, on the August 14, 2029 observation date, the index is at or above the downside threshold of 838.752, investors receive full principal plus the final coupon; if below, principal is reduced in full proportion to the index decline and can fall to zero. The estimated value on the pricing date is $936.10 per security, below the $1,000 issue price, reflecting structuring and distribution costs and issuer economics. All payments are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley, and are subject to their credit risk.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is issuing Enhanced Buffered Jump Securities linked to the S&P 500® Index with an aggregate principal amount of $14,195,000. Each security has a stated principal amount and issue price of $1,000 and matures on September 1, 2027, with no interim interest payments and no principal guarantee.
At maturity, if the S&P 500® final level is at or above the 90% buffer level of 7,007.184, holders receive $1,000 plus a fixed upside payment of $93.10 per security. If the final level is below the buffer, investors lose 1.1111% of principal for every 1% decline beyond the 10% buffer, with no minimum repayment. The initial index level is 7,785.76. The estimated value on the pricing date is $985.20 per security, reflecting issuance, structuring and hedging costs, and all payments depend on the credit of Morgan Stanley Finance LLC and its Morgan Stanley guarantee.
Morgan Stanley (MS), via Morgan Stanley Finance LLC, is offering Buffered Performance Leveraged Upside Securities (Buffered PLUS) due August 19, 2031, linked to the worst performing of the Dow Jones Industrial Average and the S&P 500 Index. Each security has a $1,000 stated principal amount and pays no interest.
At maturity, if both indices finish above their initial levels, holders receive principal plus 114.75% of the index gain of the worst performer. If either index is at or below its initial level but both remain at or above 85% of their initial levels, holders receive only principal. If either index finishes below its 85% buffer level, principal is reduced 1% for each 1% decline of the worst performer beyond the 15% buffer, subject to a minimum repayment of 15% of principal.
The initial index levels are 53,732.41 for the Dow and 7,785.76 for the S&P 500. The aggregate principal amount is $1,225,000. The estimated value on the pricing date is $947.90 per security, below the $1,000 issue price, reflecting structuring and hedging costs and the issuer’s funding level. Investors face principal, market, liquidity, tax and issuer credit risk, and the note is an unsecured obligation guaranteed by Morgan Stanley.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering $600,000 of principal at risk Jump Securities with Auto-Callable Feature linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index, maturing August 19, 2031. The notes are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley.
The notes auto-call quarterly from August 17, 2027 if the index is at or above the call threshold of 1,397.92, paying an increasing early redemption amount (starting at $1,212.50 per $1,000, up to $2,044.79) and then terminating. If held to maturity and the final index level is at or above the call threshold, investors receive $2,062.50 per $1,000. If the final level is below the call threshold but at or above the downside threshold of 698.96 (50% of initial), investors receive only principal. Below the downside threshold, payoff is $1,000 multiplied by index performance, exposing investors to full downside, potentially to zero.
The issue price is $1,000 per note, with an estimated value of $905.60 on the pricing date, reflecting embedded costs and hedging. The notes pay no interest, do not participate in index upside beyond the fixed payouts, are subject to Morgan Stanley’s credit risk, and may have limited or no secondary market liquidity.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering fixed-income auto-callable structured securities linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index, fully and unconditionally guaranteed by Morgan Stanley, with a stated principal amount of $1,000 per security and an aggregate principal amount of $1,050,000.
The notes pay a fixed coupon at 8.35% per annum, with monthly coupon payments, and can be automatically redeemed starting August 16, 2027 if the index closes at or above the call threshold level of 1,397.92 (100% of the initial level). If called, investors receive principal plus the applicable coupon and no further payments. If held to August 19, 2031 and the final index level is at or above the downside threshold level of 838.752 (60% of the initial level), investors receive full principal plus the final coupon.
If the final level is below the downside threshold, principal is reduced 1% for each 1% decline in the index, down to zero, though the final coupon is still paid. The securities are unsecured, subject to Morgan Stanley’s credit risk, and the estimated value on the pricing date is $919.10 per security, reflecting embedded costs and dealer compensation.
Morgan Stanley (MS), via Morgan Stanley Finance LLC, is issuing Performance Leveraged Upside Securities (PLUS) linked to an equally weighted basket of ten U.S. and international stocks, with a total offering size of $368,000 and an original issue price of $1,000 per PLUS. The notes mature on September 13, 2027, pay no interest and are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley.
The basket starts at a value of 100 and includes 10% weightings in Amazon, Coherent, Corning, Linde, MP Materials, Northrop Grumman, NVIDIA, RBC Bearings, Rocket Lab and SpaceX (SPCX). At maturity, if the basket has risen, investors receive principal plus 150% of the basket’s gain, capped at a maximum payment of $1,288.75 per PLUS (128.875% of principal). If the basket is flat, repayment equals principal; if it has fallen, repayment equals principal times the basket performance factor, producing a 1:1 loss with no downside protection and the possibility of losing the entire investment.
The PLUS will not be listed on any exchange, and liquidity will rely mainly on Morgan Stanley & Co. LLC making a market, which it is not obligated to do. The estimated value on the pricing date is $933.70 per PLUS, below the issue price, reflecting structuring, distribution, and hedging costs and the issuer’s funding spread. Returns also depend on Morgan Stanley’s credit; a default could result in partial or total loss. The tax treatment is uncertain, with counsel viewing the notes as prepaid financial contracts, but the IRS could challenge this characterization.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is issuing auto-callable structured “Jump Notes” due August 18, 2033 with an aggregate stated principal of $188,000, each note at $1,000 and fully and unconditionally guaranteed by Morgan Stanley.
The notes pay no interest and return at least the stated principal at maturity, subject to Morgan Stanley’s credit. They are linked to the Morgan Stanley Amplitude Index, with an initial level of 207.48 and a call threshold of 209.555 (101% of the initial level). From the first determination date on August 16, 2027, the notes auto-redeem if the index closes at or above the call threshold, paying fixed amounts that step up from $1,110 in 2027 to $1,660 in 2032 per $1,000 note (about 11% per annum), after which no further payments are made.
If not redeemed early and the final index level on August 15, 2033 is above the initial level, investors receive $1,000 plus 100% of index appreciation; otherwise they receive $1,000 only. The notes are unsecured, will not be listed, carry an estimated value of $893.20 per note on the pricing date, and include selling commissions of $45 per note paid to Morgan Stanley & Co. LLC and selected dealers.
Morgan Stanley (MS), via Morgan Stanley Finance LLC, is offering principal-at-risk Jump Securities with an auto-call feature maturing on August 19, 2031, linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. The notes have a $1,000 stated principal amount and an aggregate offering of $500,000, issued at 100% and fully guaranteed by Morgan Stanley.
The notes do not pay interest and do not guarantee return of principal. If on any of 48 determination dates the index is at or above the call threshold level of 1,258.128 (90% of the initial level), the notes auto-call for a fixed early redemption payment that increases over time, from $1,160 on the first date to $1,786.667 on the 48th. If held to maturity without early redemption, investors receive $1,800 per note if the final index level is at or above the call threshold, only principal if it is between the call threshold and the downside threshold of 698.96 (50% of the initial level), and a linear loss (final/initial) below that, potentially losing the entire investment.
The initial index level is 1,397.92. The estimated value on the pricing date is $904.40 per note, below issue price due to embedded costs and dealer compensation; selling dealers receive $36.25 per note. Key risks include full principal loss possibility, issuer and guarantor credit risk, limited and partially simulated index history, a 4% per annum decrement on the index, potential illiquidity, and uncertain U.S. tax treatment.
Morgan Stanley (MS), via Morgan Stanley Finance LLC, is issuing $1,100,000 of Contingent Income Memory Auto-Callable Securities due February 17, 2028, linked to the iShares Semiconductor ETF. These are unsecured, principal-at-risk notes fully and unconditionally guaranteed by Morgan Stanley.
Each security has a $1,000 stated principal amount and pays a 13.45% per annum contingent coupon only if the ETF’s closing level on an observation date is at or above the coupon barrier level of $275.21 (50% of the initial level). Missed coupons can be “remembered” and paid later if a future observation meets the barrier.
The notes are automatically redeemed if, on specified redemption determination dates starting February 16, 2027, the ETF closes at or above the call threshold of $550.42 (100% of the initial level), paying principal plus the current and any unpaid coupons. At maturity, if not auto-called and the final level is at or above $275.21, investors receive principal plus any due coupons; otherwise they lose 1% of principal for each 1% decline in the ETF, potentially losing their entire investment. The issue price is $1,000, while the estimated value on the pricing date is $975.80, reflecting embedded costs and issuer economics. All payments are subject to Morgan Stanley’s credit risk and the notes are not bank deposits or FDIC insured.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk, auto-callable “Jump Securities” maturing August 17, 2029, in an aggregate principal amount of $975,000 at $1,000 per security. The notes are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley, and pay no coupons.
Returns depend on the worst performing of three ETFs: iShares MSCI EAFE (EFA), iShares U.S. Medical Devices (IHI) and State Street Utilities Select Sector SPDR (XLU). If on a determination date each ETF is at or above its call threshold (100% of its initial level), the notes are automatically redeemed for fixed amounts corresponding to about 17% per annum, starting at $1,170 and rising to $1,425. If held to maturity with all ETFs at or above their call thresholds, investors receive $1,510 per security.
If at maturity any ETF is below its call threshold but all are at or above the downside thresholds (65% of initial), investors receive only principal. If any ETF is below its downside threshold, repayment is reduced 1% for each 1% decline of the worst ETF, potentially to $0. The estimated value on the pricing date is $972.60 per security, below issue price, and investors face issuer credit risk, limited liquidity, and uncertain U.S. tax treatment.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering S&P 500®-linked Enhanced Buffered Jump Securities due September 1, 2027, with a stated principal amount of $1,000 per security and aggregate principal of $21,642,000. The notes pay no interest and are fully and unconditionally guaranteed by Morgan Stanley but are principal at risk.
At maturity, if the S&P 500® final level is at or above the buffer level of 6,617.896 (85% of the 7,785.76 initial level), investors receive $1,000 plus a fixed upside payment of $78.90 per security (7.89%), regardless of how much the index has risen. If the final level is below the buffer level, investors lose 1.1765% of principal for each 1% decline beyond the 15% buffer, with no minimum repayment and the potential for a total loss of principal.
The issue price is $1,000 per security, including up to $10 in placement fees, while the issuer’s estimated value on the pricing date is $984.30, reflecting embedded costs and Morgan Stanley’s pricing models. The securities are unsecured obligations subject to Morgan Stanley’s credit risk, may have limited or no secondary market liquidity, and carry complex and uncertain U.S. federal income tax treatment.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is issuing Trigger Performance Leveraged Upside Securities (Trigger PLUS) linked to the EURO STOXX 50® Index, maturing on September 3, 2032, with an aggregate principal amount of $52,744,000.
Each note has a $1,000 stated principal amount, no coupons, and offers 193.30% leveraged upside on any index gains. If the final index value is between the initial level of 6,539.59 and the trigger level of 4,904.693 (75% of initial), investors receive principal back. If the final index value is below the trigger, repayment is proportional to index performance and can fall to zero. The notes are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley, with an estimated value at pricing of $951.20 per note and no stock-exchange listing.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY, through Morgan Stanley Finance LLC, is offering $683,000 aggregate principal amount of Jump Securities with an auto-call feature linked to the Russell 2000® Index, maturing August 19, 2031. Each security has a $1,000 stated principal amount and issue price, with an estimated value of $963.10 on the pricing date, reflecting embedded issuance, selling, structuring and hedging costs.
The notes are principal-at-risk, pay no interest and are fully and unconditionally guaranteed by Morgan Stanley, but are unsecured and subject to the issuer’s and guarantor’s credit risk. On the first determination date (August 23, 2027), if the index closing level is at or above the call threshold of 3,068.415 (100% of the initial level), the notes are automatically redeemed for a fixed $1,128.50 per security and no further payments are made.
If not called, at maturity investors receive: the stated principal plus an upside payment of 125% of any index gain; par only if the final level is at or below the initial level but at or above the downside threshold of 2,301.311 (75% of initial); or a loss of 1% of principal for each 1% index decline if below the threshold, via a performance factor, which can reduce the payment to zero. The securities are not bank deposits or FDIC insured, may have limited or no secondary market liquidity, and carry uncertain U.S. tax treatment described as prepaid financial contracts treated as open transactions.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering $325,000 of Contingent Income Memory Auto-Callable Securities, issued at $1,000 per note and due August 17, 2029. These principal-at-risk notes are linked to the worst performing of Upstart, NVIDIA and Super Micro Computer common stocks.
Investors may receive a 25.45% per annum contingent coupon, but only if on an observation date each stock closes at or above its coupon barrier, set at 50% of its initial level; missed coupons can be paid later if barriers are again met. Notes are automatically redeemed, with principal plus due coupons, if all three stocks are at or above their 100% call thresholds on specified redemption determination dates from August 2027. At maturity, if not called and any stock finishes below its 50% downside threshold and all are below initial, repayment is reduced 1% for each 1% decline of the worst underlier, potentially to zero. The estimated value on the pricing date is $929.40 per note, below the $1,000 issue price, and all payments depend on Morgan Stanley’s credit.
MORGAN STANLEY (MS), via Morgan Stanley Finance LLC, is issuing Trigger PLUS structured notes linked to the S&P 500® Futures Excess Return Index, fully and unconditionally guaranteed by Morgan Stanley. The notes have a $1,000 stated principal amount and an aggregate principal of $6,800,000, maturing on August 19, 2031, and pay no interest.
At maturity, if the index final level is above the initial level of 621.16, holders receive principal plus a leveraged upside using a 235.50% leverage factor. If the final level is at or below the initial level but at or above the downside threshold of 434.812 (70% of the initial level), investors receive only principal. Below the threshold, repayment is principal multiplied by the performance factor (final level/initial level), resulting in a 1% loss of principal for each 1% index decline, with no minimum payment and potential total loss.
The issue price is $1,000 per note, while the estimated value on the pricing date is $978.10, reflecting issuance, structuring and hedging costs. Morgan Stanley & Co. LLC acts as agent, receiving $11.25 per security in fees, with proceeds to the issuer of $988.75 per note. All payments are subject to the credit risk of Morgan Stanley Finance LLC and Morgan Stanley.
MORGAN STANLEY (MS), via Morgan Stanley Finance LLC, is offering callable contingent income structured notes maturing November 18, 2027, with an aggregate principal amount of $300,000 and a stated principal of $1,000 per security. The notes are fully and unconditionally guaranteed by Morgan Stanley but are principal-at-risk and unsecured.
Coupons are contingent: investors receive a coupon at an annual rate of 13.00% only if, on each observation date, the Dow Jones Industrial Average, Russell 2000 Index and State Street Technology Select Sector SPDR ETF are all at or above their coupon barrier levels, each set at 75% of its initial level. The same 75% levels function as downside thresholds at maturity; if any underlier finishes below its threshold and the notes have not been called, repayment is reduced in proportion to the decline of the worst-performing underlier and can fall to zero.
The notes are callable in whole, but not in part, on specified redemption dates starting November 19, 2026, based on a risk neutral valuation model that compares the economics of redeeming versus not redeeming from Morgan Stanley’s perspective. The estimated value on the pricing date is $975.50 per security, below the $1,000 issue price, reflecting issuance, structuring and hedging costs. All payments depend on Morgan Stanley’s and MSFL’s credit.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (symbol: MS) is the issuer of record for a Form 424B2 filing submitted to the SEC.
MORGAN STANLEY (MS), via Morgan Stanley Finance LLC, is offering Contingent Income Memory Buffered Auto-Callable Securities linked to the iShares Semiconductor ETF. Each security has a $1,000 stated principal amount, with a total offering size of $500,000, and is fully and unconditionally guaranteed by Morgan Stanley.
The notes pay a contingent coupon at an annual rate of 23.60%, but only if on each observation date the ETF’s closing level is at or above the coupon barrier of $440.592 (80% of the initial level). Missed coupons can be paid later (“memory” feature) if a future observation meets the barrier. The notes are automatically redeemed if on any redemption determination date the ETF is at or above the call threshold of $550.74 (100% of the initial level), returning principal plus the applicable coupon(s).
If not called early, at maturity investors receive full principal only if the final ETF level is at or above the buffer level of $440.592. Below this, principal loss is amplified at 1.25% for each 1% decline beyond the 20% buffer, with no minimum payment, so the investment can result in a total loss. The estimated value on the pricing date is $984.10 per $1,000 note, reflecting embedded fees and hedging costs. All payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering Enhanced Buffered Jump Securities due September 2, 2027, linked to an equally weighted basket of seven semiconductor-related stocks. The notes are unsecured, pay no interest, and are fully and unconditionally guaranteed by Morgan Stanley.
Each $1,000 security offers a fixed upside payment of $169.40 (16.94%) if the final basket level on the August 30, 2027 observation date is at or above the 80 buffer level (80% of the initial level 100). If the final level falls below the buffer, investors lose 1.25% of principal for every 1% decline beyond the 20% buffer, with no minimum repayment and potential loss of the entire investment. The aggregate principal amount is $5,000,000, issue price is $1,000 per security, and the estimated value on the pricing date is $987.10, reflecting issuance, structuring and hedging costs. All payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley (MS), via Morgan Stanley Finance LLC, is offering structured “Buffered Jump Securities” linked to an eight-stock basket, fully and unconditionally guaranteed by Morgan Stanley. Each note has a $1,000 stated principal amount, with an aggregate issuance of $3.923 million.
The notes can be automatically redeemed on September 2, 2027 if the basket level on August 30, 2027 is at or above 100% of the initial level, paying a fixed $1,238 per note and then terminating. If held to August 17, 2028, investors receive upside equal to 125% of any basket appreciation; if the basket finishes between 85% and 100% of the initial level, only principal is returned.
If the final basket level is below 85% of the initial level, investors lose 1.1765% of principal for each 1% decline beyond the 15% buffer, with no minimum payment, so the entire investment can be lost. The notes pay no interest, are unsecured obligations subject to Morgan Stanley’s credit risk, and their estimated value at pricing is $977 per $1,000 note, reflecting embedded costs.