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 (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 “Jump Securities with Auto-Callable Feature” due August 17, 2029, linked to the worst performer among the Dow Jones Industrial Average, Russell 2000 Index and State Street Technology Select Sector SPDR ETF. Each note has a $1,000 stated principal amount and issue price, with an aggregate principal of $1,817,000.
The notes may be automatically redeemed on August 24, 2027 for $1,245 per security if all three underliers are at or above their initial (100%) levels on the first determination date. If not called, at maturity holders receive principal plus an upside payment equal to 175% of the gain of the worst-performing underlier if all final levels exceed initial levels, only principal if each is above its 60% downside threshold, and a loss of 1% of principal for each 1% decline of the worst performer if any underlier finishes below its downside threshold, potentially reducing the payoff to zero.
The securities are unsecured obligations of Morgan Stanley Finance LLC, fully and unconditionally guaranteed by Morgan Stanley, and pay no interest. The estimated value on the pricing date is $967.80 per $1,000 note, reflecting embedded costs and issuer pricing. All payments are subject to Morgan Stanley’s credit risk, and the tax treatment is described as uncertain, with counsel viewing the notes as prepaid financial contracts and noting potential “constructive ownership” and Section 871(m) considerations.
MORGAN STANLEY (MS), via Morgan Stanley Finance LLC, is offering Enhanced Trigger Jump Securities linked to the SPDR® Gold Trust, fully and unconditionally guaranteed by Morgan Stanley. The notes are issued under its Series A Global Medium-Term Notes program with an aggregate principal amount of $680,000 at $1,000 per security.
The notes pay no interest and do not guarantee principal. At maturity on September 1, 2027, if the SPDR Gold Trust final level on the August 27, 2027 observation date is at or above the downside threshold of $341.258 (85% of the $401.48 initial level), investors receive $1,000 plus a fixed $110 upside payment (an 11% return), regardless of how much the underlier has risen. If the final level is below the downside threshold, repayment equals $1,000 multiplied by the performance factor (final level ÷ initial level), causing a 1% principal loss for each 1% decline, down to a possible zero payment.
The estimated value on the pricing date is $987.10 per security, below the issue price due to structuring and distribution costs. The notes are unsecured obligations subject to Morgan Stanley’s credit risk, may have limited or no secondary market liquidity, and carry complex U.S. tax and commodity-linked risks described in detail in the risk and tax sections.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering Buffered Jump Securities with an auto-call feature linked to the Global X Defense Tech ETF. The notes have a stated principal amount of $1,000 per security, total aggregate principal of $2,000,000, and mature on August 17, 2028, unless automatically redeemed earlier.
The notes are issued at $1,000 with an estimated value of $973.30 per security, include a 15% buffer (buffer level $60.189 vs. initial level $70.81), a 125% participation rate on upside, and a downside factor of 1.1765 beyond the buffer. If on the first determination date (August 27, 2027) the ETF closes at or above $70.81, the notes auto-call for an early redemption payment of $1,148.10 per security and terminate.
If not called, at maturity investors receive upside participation when the final level exceeds the initial level, return of principal if the final level stays at or above the buffer level, and a leveraged loss of 1.1765% for each 1% decline beyond the 15% buffer, with no minimum payment, so principal can be fully lost. The securities are unsecured obligations of Morgan Stanley Finance LLC, fully and unconditionally guaranteed by Morgan Stanley, and all payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley (MS), via Morgan Stanley Finance LLC, is issuing Buffered Performance Leveraged Upside Securities (Buffered PLUS) maturing on August 19, 2031, linked to the S&P 500® Futures Excess Return Index. The notes are issued in $1,000 denominations with an aggregate principal amount of $756,000 and pay no interest.
At maturity, investors receive $1,000 plus 188% of any index gain if the final level exceeds the initial level of 621.16. If the final level is between 70% and 100% of the initial level, investors receive principal only. Below the buffer level of 434.812, principal is reduced 1% for each 1% decline beyond the 30% buffer, subject to a minimum payment of 30% of principal. The securities are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley, with an estimated value on the pricing date of $973.90 per security.
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 $6,394,000 of Auto-Callable Trigger PLUS notes linked to the Nasdaq-100 Index®, due September 3, 2032, fully and unconditionally guaranteed by Morgan Stanley. The notes pay no interest and do not guarantee principal.
The securities may be auto-called on the first determination date, August 23, 2027, for an early redemption payment of $1,124 per $1,000 security if the index closes at or above the initial value of 30,046.14. If not called, at maturity investors receive $1,000 plus 125% of any index gain, par if the index is between 75% and 100% of the initial level, or a loss on a 1-for-1 basis below the downside threshold of 22,534.605, potentially losing their entire investment. The estimated value on the pricing date is $964 per security, below the $1,000 issue price, reflecting issuing, selling, structuring and hedging costs. All payments are subject to Morgan Stanley’s credit risk.
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 issuing S&P 500-linked Market-Linked Notes maturing on September 3, 2032, in an aggregate principal amount of $11,047,000 at $1,000 per note. The notes pay no interest and return at least the stated principal at maturity, subject to Morgan Stanley’s credit risk.
At maturity, holders receive $1,000 plus a supplemental amount equal to $1,000 × index percent change × 100%, capped so total payment cannot exceed $1,586.50 per note (158.65% of principal) and cannot be below $1,000. The initial S&P 500® Index value is 7,785.76, observed on August 14, 2026. The issue price includes selling, structuring and hedging costs, and the estimated value on the pricing date is $952.10 per note. The notes are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley, will not be listed on an exchange, and may trade at prices below issue. For U.S. tax purposes, Morgan Stanley intends to treat them as contingent payment debt instruments with a comparable yield of 5.1187% per annum, requiring annual accrual of taxable interest.
MORGAN STANLEY (MS) is offering Enhanced Trigger Jump Securities via Morgan Stanley Finance LLC, linked to the worst performing of the Nasdaq-100, Russell 2000 and S&P 500 indices. The notes are unsecured, principal-at-risk obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley.
Each security has a $1,000 stated principal amount and pays no interest. At maturity in September 2027, if the final level of each index is at or above 70% of its initial level, holders receive $1,000 plus a fixed upside payment of $114.50 (11.45%), regardless of how much the indices have risen. If any index closes below its 70% downside threshold, the payoff is $1,000 multiplied by the performance factor of the worst-performing index, creating a 1-for-1 loss beyond that level and potentially a total loss of principal.
The issue price is $1,000 per security, with an aggregate principal amount of $1,581,000; the issuer’s estimated value on the pricing date is $993.10
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is issuing principal-at-risk Enhanced Trigger Jump Securities linked to the Class A ordinary shares of On Holding AG. The notes are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley, and pay no periodic interest.
Each security has a $1,000 stated principal amount and issue price, with an aggregate principal amount of $500,000. The estimated value on the pricing date is $981.10 per security, reflecting issuance, selling, structuring and hedging costs borne by investors. At maturity on August 31, 2027, if the final share price is at or above the downside threshold level of $22.958 (75% of the $30.61 initial level), investors receive $1,000 plus a fixed upside payment of $240, regardless of how much the stock has risen within that range. If the final level is below the threshold, repayment is fully exposed to downside, with a 1% loss of principal for each 1% decline in the underlier and no minimum payment, so the entire investment can be lost.
All payments depend on Morgan Stanley’s credit. Liquidity may be limited; secondary market prices are expected to be below the issue price and influenced by Morgan Stanley’s credit spreads, market volatility and dealer bid/offer spreads. U.S. tax treatment is uncertain; the notes are intended to be treated as prepaid financial contracts that are “open transactions.”
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Callable Contingent Income Buffered Securities due August 29, 2031, linked to the worst performer of the Russell 2000® and S&P 500® indices, at $1,000 stated principal per security.
Investors may receive a 6.75% per annum contingent coupon, paid only if on each observation date both indices are at or above 70% of their initial levels. The notes are callable from August 31, 2027 onward based on a risk neutral valuation model that makes early redemption economically rational for the issuer, not automatically tied to index performance.
If not redeemed and both indices finish at or above an 85% buffer level, investors receive principal back (plus any final coupon). If either index finishes below its buffer, principal is reduced 1% for each 1% decline of the worst index beyond the 15% buffer, with a minimum payment of 15% of principal. The estimated value on the pricing date is approximately $946.30 per security, below the issue price, and all payments are subject to Morgan Stanley’s credit risk.
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 principal-at-risk Enhanced Buffered Jump Securities maturing September 9, 2027, linked to the S&P 500® Index. Each note has a $1,000 stated principal amount, pays no interest and is fully and unconditionally guaranteed by Morgan Stanley.
At maturity, if the S&P 500 final level is at or above the buffer level (90% of the initial level), holders receive $1,000 plus a fixed upside payment of at least $88.50 (8.85%). If the final level is below the buffer, principal is reduced by 1.1111% for each 1% decline beyond the 10% buffer, with no minimum repayment, so the entire investment can be lost.
The issue price is $1,000 per security, including up to $10 in placement fees, while the estimated value on the pricing date is approximately $986.30 per security. U.S. tax counsel views the notes as prepaid financial contracts treated as open transactions, but this treatment is uncertain and subject to potential future IRS or legislative changes.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Callable Contingent Income Securities due August 23, 2029, linked to the worst performer of the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index, fully and unconditionally guaranteed by Morgan Stanley.
The notes pay a 10.50% per annum contingent coupon (about $8.75 per $1,000 period) only if on each observation date all three indices are at or above their coupon barrier levels, set at 70% of their initial levels. If any index is below its barrier on an observation date, no coupon is paid for that period.
If not called and all final index levels are at or above downside thresholds of 60% of initial levels, investors receive principal back plus any final coupon; otherwise, repayment is reduced dollar-for-dollar with the decline of the worst-performing index and can fall to zero. Early redemption from May 25, 2027 onward depends on a risk neutral valuation model rather than index triggers. The estimated value on the pricing date is about $976.90 per $1,000 note, and all payments are subject to Morgan Stanley’s credit and complex, uncertain tax treatment.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering Dual Directional Trigger Jump Securities maturing on August 26, 2030, linked to the worst performer of the EURO STOXX 50® Index and the Russell 2000® Index. Each note has a stated principal of $1,000, pays no interest and is fully and unconditionally guaranteed by Morgan Stanley.
At maturity, investors receive $1,000 plus upside based on the worst-performing index if its final level is at or above its initial level, including a fixed $533 (53.30%) minimum upside when that index rises moderately. If the worst performer is below its initial level but at or above 75% of its initial level, investors get a positive “absolute return” up to an effective cap of 25%. If the worst performer finishes below 75% of its initial level, principal is reduced 1% for each 1% decline, with no minimum repayment, so the entire investment can be lost. The estimated value on the pricing date is about $954.90 per $1,000 note, reflecting structuring and hedging costs and Morgan Stanley’s funding rate.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is issuing principal-at-risk Buffered Jump Securities with an auto-call feature due September 6, 2029, linked to the worst performer of the Dow Jones Industrial Average, Russell 2000 Index and Invesco S&P 500 Equal Weight ETF.
The notes have a $1,000 stated principal amount and an estimated value on the pricing date of about $954.50 per note. They pay no interest. From the first determination date on September 3, 2027, the notes are automatically redeemed if all underliers are at or above their call thresholds, with scheduled early redemption payments corresponding to roughly 7.75% per annum, up to $1,213.125 per note.
If not called, and all underliers are at or above their call thresholds at final valuation, holders receive $1,232.50 per note. A 20% buffer applies: if any underlier finishes below its buffer level (80% of initial), repayment is reduced 1% for each 1% decline of the worst underlier beyond 20%, subject to a minimum payment of 20% of principal. All payments depend on Morgan Stanley’s credit.
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 “Enhanced Buffered Jump Securities” due September 10, 2027, linked to an equally weighted basket of seven semiconductor-related stocks. Each note has a $1,000 stated principal amount and pays no interest.
At maturity, if the basket’s final level is at or above the 80% buffer level, investors receive $1,000 plus an upside payment of at least $154.70 per note (at least 15.47% of principal), regardless of how far above the buffer the basket finishes. If the final level is 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 notes are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley, and all payments depend on Morgan Stanley’s and MSFL’s credit. The estimated value on the pricing date is approximately $983.80 per note, below the $1,000 issue price due to selling, structuring and hedging costs. Liquidity may be limited, and the U.S. federal income tax treatment is uncertain; counsel currently views them as prepaid financial contracts that are “open transactions.”
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 Callable Contingent Income Securities due September 5, 2031, linked to the worst performer of the Dow Jones Industrial Average, Nasdaq-100 Index and Russell 2000 Index. Each security has a stated principal of $1,000 and pays a 7.55% per annum contingent coupon only if, on each quarterly observation date, all three indices close at or above their coupon barrier levels, set at 65% of their initial levels.
The notes are callable in whole from September 7, 2027 onward if a risk neutral valuation model indicates early redemption is economically rational for the issuer; upon redemption, investors receive principal plus any due coupon and no further payments. At maturity, if not called and each index is at or above its 60% downside threshold level, investors receive principal (plus any final coupon). If any index finishes below its downside threshold, repayment is reduced 1% for every 1% decline of the worst-performing index, potentially to zero.
The securities 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 $942.90 per $1,000 security, reflecting issuing, selling, structuring and hedging costs and the issuer’s funding spread. The notes may have limited or no secondary market, involve complex U.S. tax treatment, and non-U.S. holders may face 30% withholding on coupons.
Morgan Stanley (MS), via Morgan Stanley Finance LLC, is offering Buffered Performance Leveraged Upside Securities (Buffered PLUS) maturing on September 5, 2031, linked to the S&P 500® Index. Each security has a stated principal amount and issue price of $1,000 and pays no interest.
At maturity, investors earn 125% of any index gain, capped at a maximum payment of $1,705.50 per security (170.55% of principal). Principal is fully returned if the index is flat or down but not below a 15% buffer (buffer level 85% of the initial index level). Below the buffer, investors lose 1% of principal for each 1% additional index decline, subject to a minimum payment of 15% of principal.
The securities are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley, so all payments depend on Morgan Stanley’s credit. The estimated value on the pricing date is about $976.20 per $1,000, reflecting issuance, structuring and hedging costs, and secondary-market liquidity may be limited. The U.S. federal income tax treatment is uncertain and may be affected by future IRS or legislative actions.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Callable Contingent Income Securities due August 31, 2029, linked to the worst performer of the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index and fully guaranteed by Morgan Stanley.
The notes have a stated principal of $1,000 per security and pay a contingent coupon at 12.35% per annum, but only for periods where on the relevant observation date the closing level of each index is at or above its coupon barrier, set at 75% of its initial level. The issuer may redeem the notes in whole on scheduled redemption dates, starting December 3, 2026, but only if a risk neutral valuation model indicates that early redemption is economically rational for the issuer.
If not called and on the final observation date each index is at or above its downside threshold of 60% of its initial level, investors receive principal plus any final 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 $979.20 per security, below the $1,000 issue price, reflecting fees and hedging costs. All payments are subject to Morgan Stanley’s credit risk.
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 Finance LLC is offering Autocallable Participation Notes linked to the VanEck Semiconductor ETF (SMH), with a $10 principal amount per unit, fully and unconditionally guaranteed by Morgan Stanley. The notes have a maturity of approximately three years if not called earlier.
About one year after pricing, the notes are automatically called if the ETF’s Observation Value is at least 100% of the Starting Value, paying a Call Payment of $11.40–$11.60 per unit (a 14%–16% Call Premium), after which no further payments are due. If not called, at maturity investors receive 1‑to‑1 exposure to gains above a Threshold Value of 80% of the Starting Value, but face 1‑to‑1 downside below this level, with up to 80% of principal at risk and no periodic interest or dividends.
The notes are unsecured obligations of MSFL, guaranteed by Morgan Stanley, exposing holders to the credit risk of both entities and to limited secondary market liquidity. The original issue price is $10, while the initial estimated value is approximately $9.701 per unit, reflecting embedded fees, hedging and Morgan Stanley’s internal funding rate.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering $5,000,000 of S&P 500®-linked principal at risk securities maturing on January 29, 2032. The notes pay no interest, are unsecured, and are fully and unconditionally guaranteed by Morgan Stanley.
The payoff depends on the average S&P 500® level over specified initial and final averaging periods. Investors can receive enhanced upside within defined ranges, up to a maximum payment of $1,823.80 per $1,000 note, but face leveraged losses if the index falls below a 86% lower strike, and full 1‑for‑1 downside beyond 72% of the initial average index value.
There is no minimum repayment, so investors may lose their entire investment. The issue price is $1,000 per note, while the estimated value on the pricing date is $982.50, reflecting structuring and hedging costs. All payments are subject to Morgan Stanley’s credit risk.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is issuing principal-at-risk structured notes linked to the Global X Copper Miners ETF, maturing August 10, 2028, with an aggregate principal amount of $3,567,000 and a stated principal amount of $1,000 per security. The notes are fully and unconditionally guaranteed by Morgan Stanley.
The securities may be automatically redeemed on August 26, 2027 for $1,201 per security if the ETF’s closing level on August 23, 2027 is at or above the initial level of $88.03. If not called and the final level on August 7, 2028 is at or above the initial level, holders receive $1,000 plus the greater of a fixed $402 upside payment or 100% of the ETF’s gain.
If the final level is below the initial level but at or above the buffer level of $61.621 (70% of initial), investors receive only principal. Below the buffer, losses accelerate at 1.4286% of principal for each 1% decline beyond the 30% buffer, with no minimum payment, so the investment can result in a total loss. The notes pay no interest, have an estimated value of $966.30 per $1,000 at pricing, and all payments depend on Morgan Stanley’s credit.
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 Callable Contingent Income Memory Securities due August 19, 2027, linked to the worst performer of three ETFs: XLE, XLU and SMH. Each security has a $1,000 stated principal amount and an aggregate issue size of $643,000.
The notes pay a contingent coupon at 16.70% per annum, only if on each observation date all three underliers close at or above their coupon barrier levels, set at 60% of their initial levels (XLE $36.636, XLU $26.424, SMH $353.472). Missed coupons may be paid later if a future observation meets the barriers, but can be lost entirely if barriers are never met.
Principal repayment is not guaranteed. If the notes are outstanding at maturity and any underlier’s final level is below its downside threshold (also 60% of initial), the payoff is reduced 1% for each 1% decline of the worst performer, potentially to $0. The issuer can redeem the notes early on set redemption dates starting February 19, 2027, but only if a risk neutral valuation model indicates it is economically rational for Morgan Stanley, after which no further payments occur. The estimated value on the pricing date is $993.20 per $1,000 note, reflecting issuance, structuring and hedging costs, and all payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering $600,000 of principal-at-risk Contingent Income Auto-Callable Securities due May 17, 2028, at $1,000 per security, fully and unconditionally guaranteed by Morgan Stanley.
The notes reference an equally weighted basket of five stocks (HPE, APP, ORCL, QCOM and HOOD) via a synthetic underlier with an initial level of 100. Investors may receive a 14.85% per annum contingent coupon on scheduled dates only if the underlier’s closing level on the related observation date is at or above the coupon barrier level of 70. The notes are automatically redeemed if, on any redemption determination date from November 12, 2026 onward, the underlier is at or above the call threshold level of 95, paying principal plus that period’s coupon.
If not called, at maturity investors receive principal back only if the final underlier level is at or above the downside threshold level of 60; otherwise, repayment is reduced one-for-one with the underlier’s decline, potentially to zero. The securities are unsecured obligations subject to Morgan Stanley’s credit risk. The issue price is $1,000, while the estimated value on the pricing date is $961.60 per security, reflecting embedded fees and structuring costs and potentially lower secondary-market values.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering $2,000,000 of Enhanced Trigger Jump Securities linked to On Holding AG Class A shares, fully and unconditionally guaranteed by Morgan Stanley. These are principal at risk structured notes that pay no interest and do not guarantee return of principal.
Each $1,000 security offers a fixed upside payment of $243.60 (24.36%) at maturity if the final share price on the August 25, 2027 observation date is at or above the downside threshold of $23.258 (75% of the $31.01 initial level). If the final level is below this threshold, investors lose 1% of principal for each 1% decline in the underlier, with no minimum payment, so the entire investment can be lost.
The issue price is $1,000 per security, including up to $10 in fees, while the estimated value on the pricing date is $979.20, reflecting issuance, selling, structuring and hedging costs and Morgan Stanley’s funding rate. The notes are unsecured obligations of MSFL, 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 Enhanced Trigger Jump Securities linked to the S&P 500® Index, issued under its medium-term note program. Each note has a $1,000 stated principal amount, an aggregate principal amount of $410,000, and matures on September 16, 2027. The securities pay no interest and are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley.
At maturity, if the S&P 500 final level is at or above the downside threshold of 6,198.80 (80% of the initial level of 7,748.50), investors receive $1,000 plus a fixed upside payment of $86.20 (an 8.62% return), regardless of how much the index has risen. If the final level is below the downside threshold, repayment is reduced 1% for each 1% index decline, with no minimum payment, so the entire principal can be lost.
The estimated value on the pricing date is $985.70 per security, below the $1,000 issue price because it includes issuing, selling, structuring and hedging costs, and uses Morgan Stanley’s proprietary valuation models. The notes are subject to Morgan Stanley’s credit risk, may have limited or no secondary market liquidity, and carry uncertain U.S. tax treatment, which counsel currently views as prepaid financial contracts treated as open transactions.
Morgan Stanley (MS), via Morgan Stanley Finance LLC, is offering principal-at-risk "Jump Securities" with an auto-call feature maturing on August 18, 2031, linked to the worst performer of the MSCI EAFE Index and the MSCI Emerging Markets Index.
Each note has a $1,000 stated principal amount and may be automatically redeemed on August 25, 2027 for $1,262.50 per note if both indices are at or above their call thresholds (100% of initial levels). If not called, at maturity investors receive upside exposure of 150% of the worst index’s gain if both indices finish above initial levels, full principal back if both remain at or above 70% of initial levels, and a 1-for-1 loss with the worst index if either falls below its downside threshold, potentially losing the entire investment.
The aggregate principal amount is $1,266,000. The estimated value on the pricing date is $961.20 per note, below the issue price, reflecting structuring and hedging costs. The notes pay no interest, are unsecured obligations of MSFL guaranteed by Morgan Stanley, and all payments are subject to Morgan Stanley’s credit risk.
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 Finance LLC is offering Trigger Absolute Return Step Securities, unsecured notes fully guaranteed by Morgan Stanley, linked to a weighted basket of five international equity indices (EURO STOXX 50, Nikkei 225, FTSE 100, Swiss Market Index and S&P/ASX 200). The term is approximately 5 years, with a $10.00 issue price per Security and an estimated value on the trade date of about $9.368 per Security.
At maturity, if the Final Basket Level is at or above the Step Barrier of 100, investors receive $10 plus $10 times the greater of the Basket Return or a fixed Step Return of 41.00%–46.00%. If the Final Basket Level is below the Step Barrier but at or above the Downside Threshold of 75, investors receive $10 plus $10 times the absolute value of the Basket Return (Contingent Absolute Return). If the Final Basket Level is below the Downside Threshold, repayment is $10 plus $10 times the Basket Return, exposing investors to loss of principal up to 100%.
The securities pay no interest, offer no dividends from the underlying indices and may have limited or no secondary market. All payments are subject to the credit risk of Morgan Stanley and MSFL, and early sale can result in losses even if the Basket is above the Downside Threshold.
Morgan Stanley (MS) is offering unsecured, unsubordinated market-linked notes via Morgan Stanley Finance LLC, fully and unconditionally guaranteed by Morgan Stanley. The notes, issued at $1,000 per Note with a term of approximately five years (maturing August 29, 2031), are linked to a weighted basket of international equity indices: EURO STOXX 50® 40%, Nikkei Stock Average 25%, FTSE® 100 17.5%, Swiss Market Index® 10% and S&P®/ASX 200 7.5%.
At maturity, if the Basket Return is positive, investors receive $1,000 plus $1,000 × Basket Return × a Participation Rate set on the trade date, expected between 106.00% and 116.00%. If the Basket Return is zero or negative, the payment is the $1,000 principal only; there are no periodic interest or dividend payments. The Initial Basket Level is 100.
The notes are principal-protected only at maturity and only subject to Morgan Stanley’s creditworthiness; they are not secured and will not be listed on any exchange, so liquidity may be limited. The estimated value on the trade date is approximately $937.90 per Note (within $55 of that estimate), below the issue price due to selling, structuring and hedging costs and the use of an internal funding rate. For U.S. tax purposes, Morgan Stanley intends to treat the notes as contingent payment debt instruments, which generally requires annual accrual of interest income based on a comparable yield.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Contingent Income Auto-Callable Securities due May 10, 2028, linked to an equally weighted basket of five stocks (HPE, AppLovin, Oracle, Qualcomm and United Airlines). The notes have a $1,000 stated principal amount and issue price per security, with an aggregate principal amount of $1,200,000, and are fully and unconditionally guaranteed by Morgan Stanley.
Investors may receive a 12.80% per annum contingent coupon, paid only if the basket closing level on an observation date is at or above the coupon barrier level of 70. The notes are automatically callable on scheduled redemption determination dates if the basket level is at or above the call threshold level of 95, in which case investors receive principal plus the applicable coupon and no further payments. If held to maturity and not called, investors receive principal back only if the final basket level is at or above the downside threshold level of 60; otherwise, repayment is reduced 1% for each 1% basket decline, down to zero. The estimated value on the pricing date is $964.50 per security, below the issue price, reflecting issuance, selling, structuring and hedging costs and Morgan Stanley’s pricing.
Morgan Stanley Finance LLC is offering Trigger PLUS structured notes fully and unconditionally guaranteed by Morgan Stanley, with a $1,000 stated principal amount per security and an aggregate principal amount of $250,000. The notes pay no interest and expose principal to market risk based on the worst performing of ASML Holding N.V. ordinary shares, Micron Technology, Inc. common stock and Taiwan Semiconductor Manufacturing Company Limited ADSs.
At maturity on August 17, 2028, if the final level of each underlier is above its initial level, holders receive principal plus a leveraged upside payment equal to 375% of the worst performer’s percentage gain. If any underlier is at or below its initial level but all remain at or above 70% of their initial levels, holders receive principal only. If any underlier falls below its downside threshold (70% of its initial level), repayment is reduced 1% for each 1% decline in the worst performer, with no minimum payment, so the amount can be zero.
The issue price is $1,000 per security, including costs; the issuer’s estimated value on the pricing date is $993 per security. All payments are subject to the credit risk of Morgan Stanley Finance LLC and Morgan Stanley, and secondary market liquidity and tax treatment are uncertain.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering $881,000 aggregate principal amount of Jump Securities with an auto-callable feature, issued at $1,000 per security and maturing on August 18, 2031. These unsecured, principal-at-risk notes are fully and unconditionally guaranteed by Morgan Stanley and pay no interest.
The return is based on the worst performing of three equity futures excess return indices (DJIAFP, NDXNQER, SPXFP). Securities may auto-redeem from August 17, 2027, with early redemption payments targeting about 30% per annum (e.g., $1,300 then $1,450). At maturity, if not called and all indices finish above initial levels, investors receive principal plus an upside amount with a 200% participation rate on the worst underlier’s gain.
If any final index level is at or below its initial but all stay at or above 69% of initial, only principal is repaid. If any index finishes below its downside threshold, repayment is reduced 1% for each 1% decline in the worst index, potentially to zero. The estimated value on the pricing date is $976.80 per security, and all payments are subject to Morgan Stanley’s credit risk.
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 principal-at-risk Digital S&P 500® Index-Linked Notes with a $1,000 face amount per note, linked to the S&P 500® Index and maturing in approximately 45 to 48 months.
At maturity, if the S&P 500 final level is at least 90% of its initial level, investors receive a fixed Maximum Settlement Amount expected between $1,333.70 and $1,391.50 per $1,000 note. If the index declines by more than 10%, repayment is $1,000 + $1,000 × index return, giving full downside exposure and potentially a total loss of principal.
The notes pay no interest, are unsecured obligations of Morgan Stanley Finance LLC guaranteed by Morgan Stanley, and will not be listed on any exchange. The estimated value on the trade date is about $957.40 per note, reflecting issuer costs and an internal funding rate. The public offering price is $1,000 per note, including a 3.09% sales commission.
Morgan Stanley (MS), via Morgan Stanley Finance LLC, is offering principal-at-risk Buffered Jump Securities with an auto-call feature maturing September 6, 2029, linked to the S&P 500® Futures Excess Return Index and fully and unconditionally guaranteed by Morgan Stanley.
Each security has a $1,000 stated principal and issue price, with an estimated value on the pricing date of approximately $983, reflecting issuing, selling, structuring and hedging costs borne by investors. The note may be automatically redeemed on September 10, 2027 for a fixed $1,147 per security if the index is at or above 100% of its initial level on the first determination date.
If not called, at maturity investors receive upside participation of 150% of any index appreciation above the initial level, return of principal if the index finish is between 85% and 100% of the initial level, and a buffered loss if the index ends below 85%, with losses of 1% per 1% decline beyond the 15% buffer, subject to a minimum payment of 15% of principal. The securities pay no interest, are unsecured obligations subject to Morgan Stanley’s credit risk, and involve complex market, liquidity, tax and conflict-of-interest risks outlined in the risk factors.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering unsecured market-linked notes due March 2, 2028, whose return depends on the Nasdaq-100 Index®. The notes pay no interest and repay the $1,000 stated principal amount per note at maturity, regardless of index performance.
If the index’s final level on the February 28, 2028 observation date is above its initial level, holders receive principal plus 100% of the index’s gain, capped at a maximum payment of $1,102 per note (110.20% of principal). If the final level is at or below the initial level, only principal is returned, so there is no upside but also no loss of principal at maturity. The notes will not be listed on an exchange, all payments are subject to Morgan Stanley’s and MSFL’s credit risk, the estimated value on the pricing date is approximately $983.80 per note, and secondary market prices are expected to be below the $1,000 issue price due to embedded issuance, structuring and hedging costs.
Morgan Stanley (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Contingent Income Memory Auto-Callable Securities due September 3, 2030, linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index and fully and unconditionally guaranteed by Morgan Stanley.
Each security has a $1,000 stated principal amount and pays a contingent coupon at 13.65% per annum only when the index closes at or above a 60% coupon barrier on the relevant observation date; missed coupons can be paid later if conditions are met. The notes are automatically redeemed at par plus applicable coupons if, on specified redemption determination dates starting February 26, 2027, the index is at or above 100% of its initial level. If held to maturity and not redeemed early, investors receive par only if the final index level is at or above a 60% downside threshold; otherwise the payoff is proportional to index performance and can be zero.
The securities are unsecured obligations of MSFL, subject to Morgan Stanley credit risk, are not insured by any governmental agency, and have an estimated value on the pricing date of approximately $937.40 per $1,000 security, reflecting issuance, selling, structuring and hedging costs. The underlying index is a leveraged, volatility-targeted, 4% decrement strategy index established on March 14, 2022, with a reported closing level of 1,392.44 on August 13, 2026.
MORGAN STANLEY (MS), via Morgan Stanley Finance LLC, is offering unsecured, auto-callable structured “Jump Notes” due August 29, 2030, fully and unconditionally guaranteed by Morgan Stanley. Each note has a $1,000 stated principal amount and pays no periodic interest.
The notes are linked to the worst performing of Berkshire Hathaway Class B, NVIDIA and Oracle common stocks. If on August 25, 2027 each stock is at or above its call threshold (100% of initial level), the notes are automatically redeemed for $1,360 per note, and no further payments occur. If not called, at maturity investors receive $1,000 plus an upside payment equal to 125% of the gain of the worst performing stock if all final levels exceed their initial levels; otherwise they receive only the $1,000 principal. The estimated value on the pricing date is approximately $968.50 per note. The notes are subject to Morgan Stanley’s credit risk, will not be listed on any exchange, may have limited secondary liquidity, and are expected to be treated as contingent payment debt instruments for U.S. tax purposes.
Morgan Stanley (MS), via its finance subsidiary Morgan Stanley Finance LLC, is offering principal-at-risk Contingent Income Memory Auto-Callable Securities maturing on August 21, 2031, linked to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index. Each security has a $1,000 stated principal amount and original issue price.
The notes pay a 15.75% per annum contingent coupon (with a memory feature) only when the underlier’s closing level on an observation date is at or above a coupon barrier equal to 70% of the initial level. Starting February 18, 2027, the notes are automatically redeemed if the underlier is at or above a call threshold equal to 100% of the initial level, returning principal plus the current and any previously unpaid contingent coupons.
If not called, at maturity investors receive principal back only if the final level is at or above a downside threshold equal to 60% of the initial level; otherwise, repayment is reduced in proportion to the underlier’s decline and can be zero. The estimated value on the pricing date is approximately $948.40 per security, below the issue price, reflecting structuring and hedging costs. All payments depend on Morgan Stanley’s credit, and the underlier embeds a 4.0% per annum decrement and volatility-targeting futures strategy that can use leverage and has limited live history.
MORGAN STANLEY (MS), through Morgan Stanley Finance LLC, is offering principal-at-risk Enhanced Buffered Jump Securities maturing February 25, 2028, linked to the worst performing of the State Street SPDR S&P 500 ETF Trust (SPY) and the State Street SPDR S&P MidCap 400 ETF Trust (MDY). Each security has a $1,000 stated principal amount, pays no interest and is fully and unconditionally guaranteed by Morgan Stanley.
At maturity, if the final level of each underlier is at or above 85% of its initial level, investors receive $1,000 plus a fixed upside payment of $118 (11.80%), regardless of how much the underliers have risen. If either underlier ends below its 85% buffer level, repayment is reduced 1% for each 1% decline of the worst-performing underlier beyond the 15% buffer, subject to a minimum payment of 15% of principal. The estimated value on the pricing date is approximately $979 per security, reflecting issuing, selling, structuring and hedging costs.
Returns depend only on the worst performer and the observation-date closing levels, not path or maturity-date levels. Investors face Morgan Stanley credit risk, potential illiquidity, complex and uncertain U.S. tax treatment (including potential “constructive ownership” and Section 871(m) considerations), and ETF- and mid-cap-specific market risks.