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 structured, principal-at-risk notes linked to the S&P 500® Index with a 15% buffer and a 1.1765 downside factor, maturing on June 3, 2027.
Each security has a stated principal amount of $1,000, an estimated value on the pricing date of approximately $985, and a fixed upside payment of at least $76.90 (7.69%). Observation date is May 28, 2027; pricing/strike date is May 15, 2026 and original issue date is May 20, 2026. The securities pay no interest, do not guarantee return of principal, and could result in a total loss of principal if the final level is below the buffer amount.
Morgan Stanley Finance LLC is offering Principal at Risk auto-callable securities tied to the common stock of Philip Morris International Inc. The securities are $1,000 each, aggregate $140,000, with an original issue date of May 13, 2026 and maturity on June 11, 2027.
The notes pay a contingent coupon at an annual rate of 13.95% on each coupon date only if the underlier's closing level on the related observation date is at or above the coupon barrier of $131.662 (approximately 77% of the initial level). The securities will auto‑redeem early if the closing level on a redemption determination date is at or above the call threshold of $170.99 (the initial level); the first redemption determination date is November 9, 2026.
If not redeemed, at maturity investors receive principal if the final level is at or above the downside threshold ($131.662); if the final level is below that threshold, payment equals principal × (final level / initial level), so investors can lose a substantial portion or all principal. All payments are subject to Morgan Stanley's credit risk. The estimated value on the pricing date was $985.80 per security.
Morgan Stanley Finance LLC is offering structured, principal-at-risk notes—"Buffered Jump Securities"—due June 25, 2029, fully and unconditionally guaranteed by Morgan Stanley. The securities have a stated principal amount of $1,000 per security, an automatic early redemption payment of $1,100 if both underliers meet their call thresholds on the first determination date, and a participation rate of 250% for upside at maturity. The notes reference the worst performing of the Dow Jones Industrial Average and the S&P 500, include a 10% buffer and a 10% minimum payment at maturity, and are subject to issuer credit risk, limited liquidity and uncertain U.S. federal income tax treatment. Key dates include a strike and pricing date of May 20, 2026, original issue date of May 26, 2026 and first determination date of May 27, 2027. The estimated value on the pricing date is approximately $982.70 per security.
Morgan Stanley Finance LLC (guaranteed by Morgan Stanley) is offering Principal at Risk structured notes called Buffered Jump Securities with Auto-Callable Feature linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. The offering is for $1,000 per security with an aggregate principal amount of $2,659,000. The securities may be automatically redeemed on specified determination dates beginning May 11, 2027 for fixed early redemption payments that imply approximately a 19.50% per annum return. If not called, maturity occurs on May 13, 2031 with payoff mechanics: $1,975.00 if the final level is at or above the call threshold, return of principal if the final level is at or above the buffer level, and a pro rata principal loss beyond the 15% buffer down to a minimum payment of 15% of principal. All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC priced $1,858,000 of structured Buffered Participation Securities due May 13, 2031, fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount, an estimated value on the pricing date of $957.10, a 20% buffer, a 100% participation rate and a maximum payment at maturity of $1,800 per security.
The payout depends on a calculated basket performance factor across three basket components (EFA ETF, S&P 500® Futures Excess Return Index, Russell 2000® Index) with dynamic weightings (60%/30%/10% by relative performance). Payments at maturity can return principal plus upside capped at the maximum, return only principal if losses do not exceed the buffer, or reduce principal dollar-for-dollar for losses beyond the buffer, subject to a minimum payment of 20% of principal. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC is offering principal-at-risk, Contingent Income Memory Buffered Auto-Callable Securities linked to Broadcom Inc. The securities have a $1,000 stated principal amount, a pricing/strike date of May 15, 2026, an original issue date of May 20, 2026, and mature on June 3, 2027. The securities pay a contingent coupon (annual rate of at least 20.56% as described) only if the closing level of the underlier meets the coupon barrier (set at 75% of the initial level) on observation dates. The securities feature automatic early redemption on specified determination dates beginning August 28, 2026, a buffer of 25% and a downside factor of 1.3333, so that if the final level is below the buffer investors lose 1.3333% of principal for each 1% decline beyond the buffer. Estimated value on the pricing date is approximately $984.80 per security; agent commission is $10 per security. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering principal-at-risk structured securities due July 2, 2027, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an upside payment of $86.50 ( 8.65% ) if both underliers finish at or above their downside thresholds.
The securities are linked to the worst performing of the Dow Jones Industrial Average and the S&P 500 with an observation date of June 29, 2027. If the final level of either underlier is below its downside threshold (70% of its initial level), payment equals the stated principal times the performance factor of the worst performing underlier, and could be significantly less than the stated principal or zero. The estimated value on the pricing date is approximately $988.70 per security.
Morgan Stanley Finance LLC is offering Principal at Risk securities due June 11, 2027 backed by Morgan Stanley. The offering is for $1,050,000 aggregate principal at a $1,000 stated principal amount per security. Investors receive $114 upside payment (11.40%) at maturity only if the worst performing of the Nasdaq-100, Russell 2000 and S&P 500 is at or above its 70% downside threshold on the observation date. If the worst performing underlier falls below its downside threshold, payment equals principal times that underlier's performance factor, exposing investors to full loss of principal; there is no interest and no minimum payment. All payments are subject to Morgan Stanley credit risk and the estimated value on pricing date was $988.80 per security.
The Preliminary Pricing Supplement describes a structured note offering: Buffered PLUS with Downside Factor linked to the S&P 500® Index, issued by Morgan Stanley Finance LLC and guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and matures on June 16, 2027. The notes provide 150% leveraged upside subject to a $1,138 maximum payment per note and a 10% downside buffer (buffer level 6,671.556). If the final index level is below the buffer, investors lose 1.1111% of principal for each 1% decline beyond the buffer and may lose their entire principal. The estimated value on the pricing date is approximately $987.80 per security. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering Buffered PLUS securities due June 22, 2029, unsecured notes fully and unconditionally guaranteed by Morgan Stanley that provide leveraged upside tied to the worst performing of the Dow Jones Industrial Average and the S&P 500.
The securities have a $1,000 stated principal amount and an issue price of $1,000. The leverage factor is 119.55%, the buffer is 20% (buffer level = 80% of initial level), the minimum payment at maturity is 20% of principal, the observation date is June 18, 2029 and maturity is June 22, 2029. The estimated value on the pricing date was approximately $985.80 per security. The securities pay no interest and expose holders to issuer credit risk and full downside beyond the buffer.
Morgan Stanley Finance LLC is offering Structured Investments — Enhanced Buffered Jump Securities linked to the S&P 500® Index, fully and unconditionally guaranteed by Morgan Stanley. The securities have a stated principal of $1,000 per security, an estimated value on the pricing date of $984.70, an upside payment of at least $90.50 (9.05%) and a buffer equal to 10% of the initial index level. If the final level is below the buffer, investors lose 1.1111% of principal for each 1% decline beyond the buffer; there is no minimum payment at maturity. Commissions of up to $10 per security reduce issuer proceeds to $990 per security.
Morgan Stanley Finance LLC is offering Principal at Risk notes due May 20, 2031, fully guaranteed by Morgan Stanley, linked to the S&P U.S. Equity Momentum 40% VT 4% Decrement Index. The stated principal amount is $1,000 per security and the original issue price is $1,000. The securities pay a contingent coupon at an annual rate of 10.25% only if the underlier meets the coupon barrier on observation dates. An automatic early redemption feature may return principal plus any payable contingent coupon if the underlier meets the call threshold on a redemption determination date. If not redeemed, maturity payment depends on the final level relative to an 85% buffer level; losses apply 1% per 1% decline beyond the buffer, subject to a 15% minimum payment. Estimated value on the pricing date was approximately $901.60 per security. All payments are subject to issuer and guarantor credit risk. Timing, aggregate offering size and dealer commissions are not provided in the excerpt.
Morgan Stanley Finance LLC priced $8,630,000 of leveraged buffered S&P 500® Index-linked notes due October 22, 2027, fully and unconditionally guaranteed by Morgan Stanley. Each $1,000 Face Amount note has a 200% Upside Participation Rate, a 5.00% downside buffer (95.00% Buffer Level) and a $1,186.40 Maximum Settlement Amount. The Initial Underlier Level is 7,398.93 (trade date May 8, 2026); the Determination Date is October 20, 2027 and the Stated Maturity Date is October 22, 2027. The estimated value on the trade date is $984.50 per note and the offering price is $1,000 per note; agent commissions equal $10.70 per note.
Morgan Stanley Finance LLC is offering $2,577,000 in aggregate Face Amount of Capped Leveraged Buffered Basket-Linked Notes due July 9, 2027, fully and unconditionally guaranteed by Morgan Stanley. The notes return at maturity is linked to a five-index weighted basket (EURO STOXX 50, TOPIX, FTSE 100, SMI, S&P/ASX 200) measured from the trade date May 8, 2026 to the determination date July 7, 2027. Key economics include a 230% Upside Participation Rate, a cap at 107.30% of the initial basket level (Maximum Settlement Amount $1,167.90 per $1,000 face amount) and a 12.50% buffer that protects losses up to that decline; below the buffer investors incur proportional losses and could lose their entire principal.
Morgan Stanley Finance LLC is offering Capped Leveraged S&P 500® Index-Linked Notes due in roughly 13–15 months, fully and unconditionally guaranteed by Morgan Stanley. Each note has a Face Amount of $1,000 and an estimated Trade Date value of $982.30. The notes pay no interest; maturity payment depends on the S&P 500® Index performance from the Trade Date to the Determination Date and is capped.
If the Final Underlier Level exceeds the Initial Underlier Level, investors receive $1,000 plus 125% of the Underlier Return subject to a Maximum Settlement Amount expected between $1,174.125 and $1,204.25 per $1,000 face. If the Final Underlier Level is at or below the Initial Underlier Level, the Cash Settlement Amount falls proportionately and could result in a total loss of principal. All payments are subject to issuer credit risk; the notes are unsecured, not listed, and have limited secondary market liquidity.
Morgan Stanley Finance LLC offers Principal-at-Risk auto-callable securities due May 30, 2031 that are fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and an original issue price of $1,000.
The notes pay a contingent coupon at an annual rate of 10.25% on coupon payment dates only if the underlier's closing level meets the coupon barrier (70% of initial level). The securities can be automatically redeemed early if the underlier equals or exceeds the call threshold (100% of initial level) on a redemption determination date. At maturity, if not redeemed, investors receive principal only if the final level is ≥ the buffer level (85% of initial level); otherwise the payout equals $1,000 × (performance factor + 15%) subject to a 15% minimum payment at maturity. The underlier is the S&P U.S. Equity Momentum 40% VT 4% Decrement Index. Estimated value on the pricing date was approximately $901.60 per security.
The issuer, Morgan Stanley Finance LLC, priced a $1,000,000 offering of principal‑at‑risk, contingent income auto‑callable securities linked to CVS Health Corporation common stock. Each security has a stated principal of $1,000, an estimated value at issuance of $976.60, and a maturity date of June 10, 2027. The notes pay an 11.60% per annum contingent coupon only if the underlier meets the coupon barrier on each observation date, are subject to automatic early redemption if the underlier meets the call threshold on specified redemption determination dates, and expose investors to full principal loss if the final level is below the downside threshold.
Morgan Stanley Finance LLC is offering structured, principal-at-risk notes fully and unconditionally guaranteed by Morgan Stanley with an aggregate principal amount of $4,649,000. Each security has a stated principal amount of $1,000 and an original issue price of $1,000.
The securities are linked to the worst performing of the Dow Jones Industrial Average, the Nasdaq-100 and the Russell 2000. Key terms: pricing and strike date May 7, 2026, original issue date May 12, 2026, first determination date May 14, 2027, final determination date June 7, 2029 and maturity date June 12, 2029. The early redemption payment is $1,235 and the participation rate is 200%.
Payments depend on the worst performing underlier: automatic early redemption occurs if each underlier meets its call threshold on the first determination date; otherwise maturity payoffs range from the stated principal plus an upside payment to a reduced principal tied to the worst-performing underlier, potentially resulting in a total loss. All payments are subject to Morgan Stanley's credit risk. The estimated value on the pricing date is $984.70 per security.
Morgan Stanley Finance LLC is offering Principal at Risk structured notes linked to the common stock of Netflix, Inc. The offering consists of 893 securities at a stated principal amount of $1,000 per security (aggregate principal amount $893,000), issued May 12, 2026, maturing June 10, 2027.
The notes pay a contingent coupon at an annual rate of 12.50% only when the closing level of the Netflix stock on each observation date is at or above the coupon barrier of $57.363 (approximately 65% of the initial level). The notes are auto-callable on specified redemption determination dates if the closing level meets or exceeds the call threshold of $88.25 (the initial level); otherwise holders face downside exposure at maturity, receiving the stated principal multiplied by the performance factor (final level / initial level). All payments are subject to MSFL/Morgan Stanley credit risk.
Morgan Stanley Finance LLC priced a series of principal-at-risk notes — Buffered PLUS — linked to the Russell 2000® Index with a $1,000 stated principal per security and an aggregate principal amount of $1,460,000. The securities mature on May 12, 2032 and provide 125% upside participation (leverage factor 125%) up to a $1,830 maximum payment per security, include a 20% buffer (buffer level ~80% of the initial level) and a minimum payment of 20% of principal. Payments at maturity depend solely on the closing level of the underlier on the observation date May 7, 2032, and investors bear full issuer credit risk and potential loss beyond the buffer.
Morgan Stanley Finance LLC priced contingent-income, memory auto-callable principal-at-risk securities with a stated principal amount of $1,000 per security and an aggregate principal amount of $2,465,000. The securities reference the S&P® 500 Futures 40% Intraday 4% Decrement VT Index, pay a contingent coupon at an annual rate of 11.75% on observation dates when the underlier closes at or above a coupon barrier level, and are automatically redeemable if the underlier closes at or above the call threshold on any redemption determination date.
If not redeemed, at maturity investors receive principal only if the final level is at or above the downside threshold; otherwise maturity payment equals the stated principal multiplied by the performance factor and could be significantly less or zero. The initial level on the strike date was 3,389.93, the coupon barrier is 70% of initial level (2,372.951), the downside threshold is 60% (2,033.958), and the estimated value on the pricing date was $906.20 per security. All payments are subject to issuer and guarantor credit risk and the securities do not pay regular interest or participate in upside of the underlier.
Morgan Stanley Finance LLC offers Capped Leveraged Basket-Linked Notes due August 9, 2027, guaranteed by Morgan Stanley, linked to a weighted basket of five international indices with a 300% Upside Participation Rate and a Cap Level of 107.65%.
Each $1,000 Face Amount pays at maturity either (a) up to a Maximum Settlement Amount of $1,229.50 if the Final Basket Level ≥ Cap Level, (b) $1,000 plus 300%×Basket Return if Final Basket Level > Initial but < Cap, or (c) $1,000 plus the Basket Return if Final ≤ Initial (principal at risk). Trade Date: May 11, 2026; Strike Date: May 8, 2026; Determination Date: August 5, 2027.
Morgan Stanley Finance LLC priced auto-callable principal-at-risk securities linked to the common stock of UnitedHealth Group Incorporated with a face amount of $1,000 per security and a maturity date of May 17, 2027. The contingent coupon rate is 10.50% per annum, payable monthly if the stock closing price on each monthly calculation day is at or above the coupon threshold price of $258.818 (70% of the starting price). The securities carry downside exposure if the ending price is below the downside threshold ($258.818), and may be automatically called beginning after a six-month non-call period if the stock closing price is at or above the starting price ($369.74) on a calculation day. The estimated value on the pricing date was $975.70 per security. Agent commissions and proceeds per security are shown on the cover page.
Morgan Stanley Finance LLC priced contingent-income, auto-callable principal-at-risk notes linked to Alphabet Inc. Class A common stock. Each security has a stated principal amount of $1,000 and an issue price of $1,000. The notes pay a contingent coupon at an annual rate of 15.20% on observation dates if the closing level of the underlier meets the coupon barrier. The notes are automatically redeemed early if the underlier reaches the call threshold on a redemption determination date; if not redeemed, maturity payoff depends on the final level versus the downside threshold (approximately 75% of the initial level). All payments are unsecured and subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is offering Principal at Risk Structured Investments (Enhanced Trigger Jump Securities) linked to ServiceNow, Inc. common stock with a stated principal amount of $1,000 per security and an aggregate principal amount of $550,000. The securities mature on November 12, 2027 and pay no interest.
At maturity investors receive the stated principal plus a fixed upside payment if the arithmetic-average final level on specified averaging dates is at or above the downside threshold. If the final level is below the downside threshold, the payment equals the stated principal multiplied by the performance factor and could be significantly less or zero. All payments are subject to the issuer’s and guarantor’s credit risk.
Morgan Stanley Finance LLC prices a retail offering of Principal-at-Risk Auto-Callable Securities linked to General Electric Company common stock with an aggregate principal amount of $3,884,000. The notes pay a contingent coupon at an annual rate of 11.20%, are automatically redeemable on specified observation dates if the underlier meets the call threshold, and return principal at maturity only if the final level is at or above the downside threshold; otherwise principal is reduced pro rata by the underlier's decline.
The securities have a stated principal amount of $1,000 per security, an estimated value on the pricing date of $971.60, a pricing/strike date of May 7, 2026, an original issue date of May 12, 2026, and a maturity date of November 12, 2027. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC is offering Principal at Risk securities linked to Alphabet Inc. Class A common stock with a stated principal amount of $1,000 per security and an aggregate principal amount of $3,063,000. The securities pay a contingent coupon at an annual rate of 10.52% only when the underlier meets the coupon barrier on observation dates, feature automatic early redemption if the underlier meets the call threshold on specified redemption determination dates, and expose investors to full downside below the downside threshold of $258.694 (approximately 65% of the initial level). The estimated value on the pricing date was $973.20 per security; original issue price is $1,000 per security, including a $15 agent commission. All payments are subject to issuer and guarantor credit risk; holders do not participate in any appreciation of the underlier and may lose some or all principal.
The Pricing Supplement details an offering of Principal at Risk structured notes by Morgan Stanley Finance LLC, fully guaranteed by Morgan Stanley, with a stated principal of $1,000 per security and aggregate principal of $1,235,000. The securities reference the S&P 500® Futures Excess Return Index, have an initial/strike level of 590.94, a participation rate of 150%, an early redemption payment of $1,126.50 if the underlier meets the call threshold on the first determination date, and a maturity date of June 6, 2029. The first determination date for automatic early redemption is May 10, 2027, and the downside threshold is 60% of the initial level (354.564), exposing holders to full downside below that level. The estimated value on the pricing date was $976.80 per security. All payments are subject to issuer credit risk; these securities do not pay interest and can result in loss of principal.
Morgan Stanley Finance LLC priced $2,857,000 of leveraged buffered S&P 500® Index‑Linked Notes due June 23, 2027, offered at $1,000 per $1,000 face amount. The notes provide 130% upside participation capped at $1,170.30 per $1,000 and a 10.00% downside buffer; losses occur if the index declines more than 10.00% from the initial level. The trade date was May 7, 2026, the original issue date May 12, 2026, and the determination date is June 21, 2027.
Morgan Stanley Finance LLC is offering contingent income, principal-at-risk securities with a stated principal amount of $1,000 per security and a contingent annual coupon of 10.20%. The securities reference the S&P U.S. Equity Momentum 40% VT 4% Decrement Index, can auto-redeem on specified observation dates, and mature on May 20, 2031. If the final level is below the buffer level (85% of initial), principal is reduced pro rata beyond the buffer, subject to a 15% minimum payment. The estimated value on the pricing date was approximately $901.60. All payments are subject to MSFL’s credit risk and the securities do not pay regular interest; unpaid contingent coupons may be paid later only if future observation dates meet the coupon barrier (70% of initial).
Morgan Stanley Finance LLC offers $1,013,000 of Principal at Risk participation securities due May 12, 2031, fully and unconditionally guaranteed by Morgan Stanley. The securities reference the S&P 500® Index, pay no interest, and return at maturity is linked to the index closing level on the observation date.
Payment is threefold: (1) if the final level > initial level, holders receive principal plus up to a 100% upside participation capped at $2,260 per security; (2) if final level declines but is >= the 70% downside threshold, holders receive principal plus a positive payment tied to the absolute decline; (3) if final level < the downside threshold, holders lose principal proportionally (1% loss per 1% index decline). All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC priced structured notes fully guaranteed by Morgan Stanley that pay based on the worst performing of the Russell 2000®, S&P 500® and the State Street® Utilities Select Sector SPDR® ETF. The offering totals $6,790,000 in aggregate principal, at a $1,000 stated principal amount per security and an issue price of $1,000 per security.
The securities mature on August 12, 2027 with the observation date on August 9, 2027. If the worst performing underlier is at or above its 80% buffer level at observation, each security pays the stated principal plus a fixed $132 upside payment (13.20%). If the worst performing underlier is below its buffer level, losses are applied at a 1.25 downside factor beyond the 20% buffer and could result in substantial or total loss of principal. All payments are subject to Morgan Stanley’s credit risk. The estimated value on the pricing date was $987.40 per security.
Morgan Stanley Finance LLC priced Principal-at-Risk securities tied to Netflix, Inc. (NFLX) with an 11.50% contingent annual coupon. Each security has a $1,000 stated principal amount and was issued at $1,000; aggregate principal is $4,670,000. The securities pay coupons only if the underlier meets a coupon barrier of $60.893 on observation dates and may auto-redeem if the underlier is at or above the call threshold of $88.25 on redemption determination dates.
If not redeemed, maturity pays the $1,000 principal only if the final level is at or above the downside threshold of $60.893; otherwise payment equals principal multiplied by final level/initial level, exposing investors to full downside loss. Estimated value on the pricing date was $969.60 per security and all payments are subject to Morgan Stanley credit risk.
The filing prices $55,000,000 of Morgan Stanley Finance LLC Fixed Rate Callable Notes due July 13, 2027, issued at $1,000 per note with an estimated value of $995.00 per note on the pricing date. Interest accrues from May 13, 2026 at 4.050% per annum, paid quarterly.
The notes are callable quarterly beginning November 13, 2026 if a risk neutral valuation model determination (using prevailing market inputs and Morgan Stanley’s pricing-date credit spreads) indicates redemption is economically rational; redemption pays 100% of principal plus accrued interest. All payments are subject to issuer credit risk.
Morgan Stanley Finance LLC priced a preliminary pricing supplement for Buffered Participation Securities, fully and unconditionally guaranteed by Morgan Stanley, with a stated principal amount of $1,000 per security. The securities have a participation rate of 100%, a maximum payment at maturity of $1,650 per security (165% of principal), a buffer amount of 10% (buffer level 90), and a minimum payment at maturity of 10% of principal. Key dates: Strike Date: May 29, 2026, Original Issue Date: June 3, 2026, Observation Date: June 29, 2029 (subject to postponement), and Maturity Date: July 5, 2029. The document states an estimated value on the pricing date of approximately $949.90 per security. These are principal-at-risk notes linked to a four-stock equal-weighted basket (META, AMZN, GOOGL, NVDA); payments depend solely on the closing final level on the observation date and are subject to Morgan Stanley credit risk and the product’s limits and fees.
Morgan Stanley Finance LLC is offering structured, principal-at-risk notes due May 28, 2030, fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal and an annual contingent coupon of 9.45% payable only if each referenced underlier meets its coupon barrier on an observation date. The securities are linked to the worst performing of the EURO STOXX 50, the Nasdaq-100 Technology Sector and the Russell 2000. Coupon barrier levels equal 80% of each underlier’s initial level; downside thresholds equal 70% of each initial level. If any underlier is below its downside threshold at maturity, payment at maturity equals $1,000 multiplied by the performance factor of the worst performing underlier, and could be significantly less than, or equal to, zero. Estimated value on the pricing date was approximately $964.50 per security.
Morgan Stanley Finance LLC is offering principal-protected, market-linked notes tied to the Morgan Stanley Amplitude Index with a $1,000 stated principal amount per note. The notes pay no interest, have a 400% participation rate in any appreciation of the Index and return the stated principal at maturity if the Index is flat or down. Key dates include a strike/pricing date of May 26, 2026, an original issue date of May 29, 2026, an observation date of May 29, 2029 (subject to postponement) and a maturity date of June 1, 2029. The issuer is MSFL and payments are fully and unconditionally guaranteed by Morgan Stanley. All payments are subject to the issuer/guarantor credit risk; the document discloses an estimated value on the pricing date of approximately $921.50 per note and that the notes will not be listed on any exchange.
Morgan Stanley Finance LLC is offering structured principal‑at‑risk notes linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. Each security has a $1,000 stated principal amount, a fixed coupon of 7.00% per annum, an original issue price of $1,000 and an estimated value on the pricing date of approximately $919.60. The securities mature on May 30, 2031 with an observation date of May 27, 2031 and pay monthly coupons. They feature automatic early redemption if the underlier closes at or above the call threshold (100% of the initial level) on a redemption determination date. At maturity, if the final level is below the buffer level (85% of the initial level), principal is reduced proportionally beyond the 15% buffer, subject to a minimum payment at maturity of 15% of stated principal. All payments are subject to the issuer and guarantor credit risk.
Morgan Stanley Finance LLC priced a series of principal-at-risk notes linked to the Nasdaq-100 Index due June 11, 2027. Each security has a stated principal amount of $1,000 and an estimated value on the pricing date of approximately $981.80. Payment at maturity depends on the final level of the Nasdaq-100 on the observation date: investors receive the stated principal plus an upside payment if the index is higher (100% participation, capped at a maximum upside payment of at least $1,171.50 per security); if the index falls but remains at or above a buffer of 90% of the initial level, investors receive the stated principal plus a positive return equal to the absolute decline (100% participation) effectively capped at 10%; if the index closes below the buffer, investors lose 1.1111% of principal for every 1% decline beyond the buffer and could lose their entire investment. All payments are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley; payouts are subject to the issuer’s and guarantor’s credit risk.
Morgan Stanley Finance LLC is offering structured Jump Notes due May 20, 2031, fully guaranteed by Morgan Stanley. The notes have a $1,000 stated principal amount per note, a participation rate of 100% and an automatic early redemption feature on the first determination date of May 18, 2027. If the closing level of the S&P 500® Futures Excess Return Index on that date is at or above the call threshold (100% of the initial level), the notes will be automatically redeemed for an early redemption payment of $1,107.50 per note. If not redeemed early, at maturity investors receive the stated principal plus any upside payment only if the final level exceeds the initial level; otherwise they receive the stated principal. All payments are subject to Morgan Stanley's credit risk. The issuer estimates the notes' value on the pricing date at approximately $935.50 per note.
Morgan Stanley Finance LLC priced Principal-at-Risk auto-callable notes due May 22, 2031 linked to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index. Each security has a $1,000 stated principal amount, an initial estimated value of approximately $948.40, a 350% participation rate and a single early redemption observation on May 21, 2027 (call threshold = 100% of the initial level) for an early redemption payment of $1,250 per security.
The notes do not pay interest, are unsecured obligations of MSFL and are unconditionally guaranteed by Morgan Stanley. At maturity, investors receive either the stated principal plus upside (if final level > initial), the stated principal (if final level ≥ 50% of initial), or a loss pro rata to the index decline (if final level < 50% of initial). All payments are subject to issuer credit risk and complex tax treatment.
Morgan Stanley Finance LLC (guaranteed by Morgan Stanley) is offering preliminary pricing for contingent income auto-callable securities linked to NVIDIA Corporation with a stated principal amount of $1,000 per security. The securities pay a contingent coupon of 14.50% per annum on observation dates only if the closing level of the underlier is at or above a coupon barrier (set at 60% of the initial level). The notes may be automatically redeemed early if the closing level on a redemption determination date is at or above the call threshold (set at 100% of the initial level), in which case holders receive principal plus the contingent coupon for the related period. If the securities are not called and the final level at maturity is below the downside threshold (set at 60% of the initial level), payment at maturity will equal the stated principal multiplied by the performance factor and could be significantly less than principal or zero. The pricing/strike date is May 26, 2026, original issue date May 29, 2026, final observation date June 28, 2027, and maturity date July 1, 2027. The estimated value on the pricing date is approximately $984.70 per security. All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC is offering Principal at Risk Structured Investments — Enhanced Trigger Jump Securities linked to the worst performing of the Russell 2000® and the S&P 500®, with a $1,000 stated principal amount per security.
The securities mature on July 2, 2027 with an observation date of June 29, 2027. If each underlier’s final level is at or above its 70% downside threshold, investors receive the stated principal plus an $101 upside payment (10.10%). If the worst performing underlier is below its 70% threshold, the payment equals the stated principal multiplied by that underlier’s performance factor, and could be significantly less or zero. All payments are subject to Morgan Stanley’s credit risk. The estimated value on the pricing date was approximately $988.40 per security.
Morgan Stanley Finance LLC is offering principal‑at‑risk notes due December 2, 2027, fully guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and a contingent annual coupon of 7.20% payable only if each of the three underliers meets its coupon barrier on an observation date. If the final level of any underlier is below its downside threshold (each set at 60% of its initial level), investors will suffer a loss equal to the percentage decline of the worst performing underlier; the payment at maturity could be significantly less than principal or zero. The estimated value on the pricing date was approximately $982.40. Observation dates run monthly from June 29, 2026 through November 29, 2027.
Morgan Stanley Finance LLC offers principal-at-risk contingent income securities due December 2, 2027, fully and unconditionally guaranteed by Morgan Stanley. The securities are linked to the worst performing of the S&P 500®, Dow Jones Industrial Average and Russell 2000® and pay a contingent coupon of 8.90% per annum only if each underlier is at or above a 70% coupon barrier on each observation date. At maturity investors receive the stated principal amount per security ($1,000) only if each underlier is at or above its 70% downside threshold on the final observation date; otherwise payment equals the stated principal multiplied by the performance factor of the worst performing underlier, potentially resulting in a significant loss of principal or a zero payout. The original issue price is $1,000 and the estimated value on the pricing date is approximately $982.00. All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC is offering contingent income auto-callable securities linked to Micron Technology, Inc. Each security has a stated principal amount of $1,000, an original issue price of $1,000 and an estimated value on the pricing date of approximately $950.50. The securities pay a contingent coupon at an annual rate of 27.50% only if the underlier meets the coupon barrier on observation dates. They may be automatically redeemed early if the underlier meets the call threshold on specified redemption determination dates. At maturity, if the final level is below the downside threshold (set at 50% of the initial level), investors suffer pro rata principal loss; if the final level is at or above that threshold, investors receive principal. All payments are subject to Morgan Stanley and MSFL credit risk.
Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable notes due May 30, 2031 that are fully guaranteed by Morgan Stanley and reference the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. The securities have a stated principal amount of $1,000 per security, a contingent coupon at an annual rate of 8.50%, and an estimated value on the pricing date of approximately $901.50.
The notes pay contingent coupons only if the underlier's closing level meets the coupon barrier (60% of the initial level) on observation dates, are subject to automatic early redemption if the underlier equals or exceeds a call threshold (95% of the initial level) on redemption determination dates, and provide a 15% buffer (losses beyond the buffer reduce principal 1% per 1% decline), with a 15% minimum payment at maturity. All payments are subject to Morgan Stanley's credit risk; the issuer estimates the securities' model-based value is below the offering price due to issuance costs.
The offering describes Principal at Risk securities issued by Morgan Stanley Finance LLC and fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount, automatic early‑redemption opportunities beginning on May 27, 2027, and maturity on May 30, 2031. If not called, investors may receive $1,625.00 at maturity when the final level is at or above the call threshold; otherwise payouts depend on the final level relative to a 15% buffer, with a minimum payment of 15% of principal. Estimated value on the pricing date is about $902.10 per security. All payments are subject to Morgan Stanley’s credit risk and the securities do not pay interest.
The issuer, Morgan Stanley Finance LLC, is offering Principal at Risk notes due May 30, 2031 that are fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and a contingent coupon of 8.75% per annum payable only if the underlier meets the coupon barrier on observation dates. The notes feature an automatic early redemption if the underlier equals or exceeds a call threshold (90% of the initial level) on a redemption determination date. At maturity, holders receive principal if the final level is at or above the buffer level (80% of the initial level); if below, the payment equals the stated principal multiplied by (performance factor + buffer amount) subject to a 20% minimum payment at maturity. The estimated value on the pricing date was approximately $904.10 per security.
Morgan Stanley Finance LLC is offering structured, principal‑at‑risk notes that are fully guaranteed by Morgan Stanley and reference the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. Each security has a $1,000 stated principal amount and may auto‑redeem on scheduled determination dates beginning May 27, 2027. If not auto‑redeemed, maturity is May 30, 2031. The securities feature a 15% buffer (buffer level = 85% of initial level) and a minimum payment at maturity equal to 15% of principal. Early redemption payments range from $1,175.00 on the first determination to increasing fixed amounts (final early redemption examples up to $1,860.42 shown). Estimated value on the pricing date is approximately $904.30 per security; all payments are subject to issuer credit risk.