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 priced Principal at Risk notes (offering size $540,000) due November 2, 2027, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount, an upside payment of $128.50 (12.85%) if the worst performing underlier finishes at or above its 60% downside threshold, and otherwise pays the stated principal multiplied by the worst performing underlier’s performance factor. The securities reference the XLE Fund, Nasdaq-100 Index and Russell 2000 Index, have an estimated value of $967.30 on the pricing date, include an agent commission of $18.75 per security, and are unsecured obligations subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC is offering Trigger PLUS principal‑at‑risk securities due May 30, 2031 that reference the S&P 500® Futures Excess Return Index. Each security has a stated principal amount of $1,000. At maturity investors may receive the stated principal plus a leveraged upside payment if the final level exceeds the initial level, receive only the stated principal if the final level is between the downside threshold and the initial level, or suffer losses pro rata if the final level is below the downside threshold (which is 70% of the initial level), potentially losing the entire investment. The actual leverage factor will be set on the pricing date and is stated as 190% to 195% in this preliminary pricing supplement. The document discloses an estimated value on the pricing date of approximately $933.00 per security and that all payments are subject to MSFL’s and Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC offers structured, principal-at-risk auto-callable securities due June 3, 2030 linked to the worst performing of the S&P 500, Nasdaq-100 and Dow Jones Industrial indices.
Each security has a stated principal amount of $1,000, an estimated value on the pricing date of approximately $972.60, a 150% participation rate for upside, a downside threshold at 70% of initial levels, and automatic early-redemption opportunities with fixed early redemption payments on specified determination dates.
Morgan Stanley Finance LLC priced a Preliminary Pricing Supplement for Buffered PLUS principal-at-risk securities due May 30, 2031, linked to the worst performing of the Russell 2000® and S&P 500® indices. Each security has a stated principal amount of $1,000, a buffer amount of 20%, a minimum payment at maturity of 20% of principal, and a leveraged upside with a leverage factor to be set between 115% and 120%.
The securities pay no interest, are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley. Payments depend solely on the closing levels of the underliers on the observation date and are subject to Morgan Stanley credit risk, potential market disruption postponements and model-based estimated value (approximately $937.30 on the pricing date).
Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable securities due May 30, 2031, fully guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and an original issue price of $1,000. The securities can be automatically redeemed on the first determination date, June 8, 2027, for an early redemption payment of $1,200 to $1,210 per security if each underlier is at or above its call threshold (100% of initial level). If not auto-redeemed, maturity payoffs depend on the worst performing underlier: investors may receive the stated principal plus an upside payment (participation rate 150%) if all final levels exceed initial levels, the stated principal if all final levels are at or above downside thresholds (70% of initial level), or a reduced principal tied to the worst performing underlier (potentially zero) if any underlier falls below its downside threshold. The securities are unsecured obligations of MSFL, carry issuer credit risk, and have an estimated value on the pricing date of approximately $942.50 per security.
Morgan Stanley Finance LLC is offering principal-at-risk, contingent income auto-callable securities with a stated principal amount of $1,000 per security. The notes pay an annual contingent coupon (to be set on the pricing date, indicated between 8.25% and 9.25%) only if both underliers meet coupon barriers on observation dates, are automatically redeemed if both underliers meet call thresholds on specified redemption determination dates, and return principal at maturity only if both underliers finish above the downside thresholds; otherwise holders suffer a loss tied to the worst-performing underlier. The securities are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley and carry issuer credit risk. Key dates: strike/pricing May 26, 2026, original issue May 29, 2026, final observation August 26, 2027, maturity August 31, 2027. The estimated value on the pricing date is approximately $955.70 per security.
Morgan Stanley Finance LLC issues a Trigger PLUS structured note offering linked to the worst performing of the Nasdaq-100 Index, Nasdaq-100 Technology Sector and the VanEck Semiconductor ETF. The securities have a stated principal amount of $1,000 per security and aggregate principal amount of $1,247,000. The notes mature on May 1, 2031 with an observation date of April 28, 2031. At maturity holders receive either the stated principal plus a leveraged upside payment (leverage factor 163%) if the worst performing underlier finishes above its initial level, the stated principal if the worst performing underlier finishes at or above its 80% downside threshold level, or a principal loss equal to the percentage decline of the worst performing underlier if it finishes below its downside threshold (no minimum payment). All payments are subject to issuer and guarantor credit risk; the estimated value on the pricing date was $918.90 per security.
Morgan Stanley Finance LLC is offering Trigger PLUS notes due May 31, 2030, unsecured and fully guaranteed by Morgan Stanley, linked to the worst performing of the Russell 2000® and S&P 500® indices. Each security has a stated principal amount of $1,000 and pays no interest.
At maturity the payout depends on the worst performing underlier: investors receive the stated principal plus a leveraged upside payment if that underlier is above its initial level; receive only principal if the worst underlier is between its initial level and a downside threshold of 75% of its initial level; and lose 1% of principal for every 1% decline below the downside threshold (payment could be zero). The leverage factor will be set on the pricing date at between 130% and 135%. All payments are subject to the issuer’s and guarantor’s credit risk. The estimated value on the pricing date is approximately $938.30 per security.
Morgan Stanley Finance LLC priced a $480,000 offering of Principal at Risk structured notes due May 1, 2031 with a $1,000 stated principal amount per security. The notes pay a contingent coupon of 12.15% per annum only when the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index closes at or above the coupon barrier (70% of the initial level) on observation dates. The notes feature an automatic early redemption if the underlier meets the call threshold (the initial level) on specified redemption determination dates and return principal at maturity only if the final level is at or above the buffer level (85% of the initial level); otherwise principal is reduced 1% per 1% decline beyond the 15% buffer, subject to a 15% minimum payment. Initial level is 1,272.38; estimated value on the pricing date was $942.90. All payments are unsecured and subject to Morgan Stanley's credit risk; sales are to fee-based advisory accounts via MS & Co.
Morgan Stanley offers structured Trigger PLUS securities due May 30, 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 an estimated value on the pricing date of approximately $937.40.
At maturity the payout is determined by the worst performing underlier: investors receive principal plus a leveraged upside if that underlier appreciates, principal only if the worst underlier remains at or above a 70% downside threshold, or a proportional loss (up to a total loss) if the worst underlier closes below the threshold. All payments are subject to issuer credit risk and the securities do not pay interest.
Morgan Stanley Finance LLC priced principal‑at‑risk, auto‑callable structured notes linked to the worst performing of the Dow Jones Industrial Average, S&P 500® and Russell 2000®. Each security has a stated principal amount of $1,000, a 150% participation rate for upside, automatic early‑redemption opportunities and a downside threshold at 70% of each initial level. The securities do not pay interest, expose investors to issuer credit risk, and may return less than principal (potentially zero) if the worst performing underlier falls below its downside threshold on the observation date. Automatic early redemption begins on the first determination date of June 1, 2027, and maturity is June 3, 2030. The estimated value on the pricing date was approximately $973.20 per security.
Morgan Stanley Finance LLC priced market-linked notes tied to the EURO STOXX 50® Index with a June 3, 2030 maturity. Each note has a $1,000 stated principal amount and pays no periodic interest; at maturity investors receive principal plus an upside payment if the index final level exceeds the initial level. The participation rate will be set on the pricing date within the disclosed range of 107.75% to 112.75%. The estimated value on the pricing date was approximately $972.80 per note. Payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley and are subject to the issuer’s credit risk.
Morgan Stanley Finance LLC (guaranteed by Morgan Stanley) is offering structured, principal-at-risk notes—Contingent Income Memory Auto-Callable Securities—linked to the worst performing of the Dow Jones Industrial Average and the State Street SPDR S&P Regional Banking ETF. The securities have a $1,000 stated principal amount, a contingent coupon targeted at 11.00% to 12.00% per annum (actual rate set on the pricing date) and automatic early redemption features tied to specified observation and redemption determination dates. If neither underlier meets downside thresholds at maturity, principal may be reduced pro rata to the worst performing underlier; contingent coupons are paid only when both underliers meet coupon barriers on observation dates. All payments are subject to issuer and guarantor credit risk; estimated value on the pricing date is approximately $975.60 per security.
Morgan Stanley Finance LLC priced contingent income, memory, auto-callable securities due March 2, 2028, fully and unconditionally guaranteed by Morgan Stanley. The notes have a stated principal amount of $1,000 per security, an estimated value on the pricing date of approximately $960.30, and an actual contingent coupon to be set on the pricing date in the range of 9.00% to 10.00% per annum. Coupons are paid only if both underliers meet their coupon barrier levels on observation dates; automatic early redemption occurs if both underliers meet call thresholds on a redemption determination date. At maturity, if the worst performing underlier is below its downside threshold, principal is reduced pro rata and could be zero. All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC is offering contingent income auto-callable notes due September 2, 2027, fully guaranteed by Morgan Stanley, with a stated principal amount of $1,000 per security. The securities pay a contingent coupon only if both underlying indices meet barrier levels on observation dates and may auto‑redeem early if call thresholds are met. At maturity, if the worst performing underlier is below its 75% downside threshold, investors suffer a loss equal to that underlier’s percentage decline; if both underliers are at or above their downside thresholds, investors receive principal. All payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC priced Principal at Risk notes linked to the worst performing of the Russell 2000 and S&P 500. The offering is $9,360,000 in aggregate at a stated principal amount of $1,000 per security and an issue price of $1,000. The securities mature on June 3, 2027 and pay no interest. If, on the observation date (May 28, 2027, subject to postponement), the final level of each underlier is at or above its downside threshold (65% of the initial level), holders receive the stated principal plus an upside payment of $91 (9.10%). If the final level of either underlier is below its downside threshold, payment equals the stated principal multiplied by the worst performing underlier’s performance factor, which could result in a significant loss or zero return. All payments are subject to MSFL and Morgan Stanley credit risk.
Morgan Stanley Finance LLC offers principal-at-risk, auto-callable structured securities linked to the worst performing of the Russell 2000® and S&P 500® indices with a stated principal amount of $1,000 per security. The securities may automatically redeem on the first determination date for a fixed early redemption payment or else pay at maturity on June 3, 2030 based on the final levels of the underliers and a 150% participation rate for upside. If the worst performing underlier falls below its downside threshold (70% of its initial level), investors lose 1% of principal for each 1% decline in that underlier; the payment at maturity could be significantly less than principal or zero. All payments are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley; payments remain subject to Morgan Stanley’s credit risk. The document notes an estimated value on the pricing date of approximately $976.90 and that the issue price of $1,000 includes issuing, structuring and hedging costs borne by investors.
The filing is a preliminary pricing supplement for Morgan Stanley Finance LLC notes called Dual Directional Trigger PLUS due May 31, 2030, fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an estimated value on the pricing date of approximately $932.20. Payments at maturity depend on the performance of the worst performing of the Nasdaq-100 Technology Sector Index and the Russell 2000 Index, with a leveraged upside (leverage factor to be set on the pricing date between 122%–137%), a 50% absolute return participation feature if the worst underlier remains above its 70% downside threshold, and full downside exposure if the worst underlier falls below that threshold. The notes pay no interest, are principal‑at‑risk, and are subject to Morgan Stanley’s credit risk and the calculation agent’s discretion.
Morgan Stanley Finance LLC is offering Principal‑at‑Risk contingent‑coupon auto‑callable notes linked to General Electric Company common stock. Each security has a stated principal amount of $1,000, an issue price of $1,000 and an estimated value on the pricing date of approximately $977.30. The notes pay a contingent coupon only when the underlier meets the coupon barrier on observation dates and can be automatically redeemed early if the underlier meets the call threshold on specified redemption determination dates. At maturity, if not auto‑redeemed, investors either receive principal (if the final level is at or above the downside threshold) or a reduced cash payment equal to the performance factor multiplied by principal, exposing investors to potential loss of principal. All payments are subject to Morgan Stanley and MSFL credit risk; offering terms reference product, tax supplement and prospectus documentation.
Morgan Stanley Finance LLC offers Principal at Risk Contingent Income Auto-Callable Securities due December 1, 2027, fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal and an issue price of $1,000. The notes pay a contingent coupon (actual rate set on the pricing date, indicated range 9.25%–10.25%), are auto-callable on set observation/redemption dates, and link payoff to the worst performing of the Dow Jones Industrial Average (INDU) and the State Street Energy Select Sector SPDR ETF (XLE). If either underlier closes below downside thresholds at maturity, principal is reduced pro rata to the worst performing underlier; investors do not participate in upside. Estimated value on the pricing date is approximately $965.10 per security.
Morgan Stanley Finance LLC priced Principal-at-Risk auto-callable securities linked to the worst performing of the EURO STOXX 50®, Russell 2000® and S&P 500®, fully guaranteed by Morgan Stanley. Each note has a $1,000 stated principal amount, a 150% participation rate and an automatic early redemption feature on the first determination date of June 8, 2027.
If not auto‑redeemed, maturity is May 30, 2031. Payments at maturity depend on the worst performing underlier: investors either receive principal plus an upside payment, return of principal, or an amount reduced pro rata if the worst underlier falls below its 70% downside threshold, potentially resulting in total loss. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC is offering Principal at Risk Buffered Jump Securities linked to the worst performing of Broadcom Inc., Micron Technology, and NVIDIA Corporation, fully guaranteed by Morgan Stanley. The securities have a $1,000 stated principal amount, an aggregate principal of $3,336,000, an original issue date of May 1, 2026 and mature on June 6, 2029. They pay no regular interest and include an automatic early redemption on the first determination date (May 5, 2027) if each underlier meets its call threshold, producing an early redemption payment of $1,800 per security. At maturity investors may receive the stated principal plus an upside payment (participation rate 350% of the worst performing underlier’s gain), the stated principal, or a reduced payment reflecting losses beyond a 21% buffer (minimum payment 21% of principal). All payments are subject to Morgan Stanley’s credit risk and tax treatment is uncertain.
Morgan Stanley Finance LLC priced auto-callable principal-at-risk notes linked to the worst performing of the EURO STOXX 50®, Russell 2000® and S&P 500®, with a $1,000 stated principal per security and maturity on June 3, 2030. The notes pay no regular interest and may be automatically redeemed on June 11, 2027 if each underlier meets its call threshold on the first determination date (June 8, 2027). If not redeemed, payoff at maturity depends on the worst performing underlier: full principal plus an upside payment if all final levels exceed initial levels; full principal if all final levels remain ≥70% of initial levels; otherwise principal is reduced proportionately to the worst performing underlier and could be zero. The participation rate is 150%. Estimated value on the pricing date was approximately $975.40 per security. All payments are unsecured and guaranteed by Morgan Stanley and subject to the issuer's credit risk.
Morgan Stanley Finance LLC priced a preliminary offering of principal-at-risk, auto-callable securities backed by Morgan Stanley, linked to the worst performing of the Russell 2000® and S&P 500® indices. The securities have a $1,000 stated principal amount per security, an original issue price of $1,000, an estimated value on the pricing date of approximately $948.30, a maturity date of May 31, 2030 and a first determination date for early redemption of June 8, 2027.
The notes pay no periodic interest, carry a 150% participation rate on upside if the final level of each underlier is above its initial level, and are subject to a downside threshold of 70% of the initial level. If the worst performing underlier falls below that threshold at maturity, investors lose 1% of principal for each 1% decline in that underlier; payments may be significantly less than principal or zero. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering buffered jump, auto-callable principal-at-risk notes due May 31, 2030, fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an original issue price of $1,000. The notes are linked to the worst performing of the Nasdaq-100 Technology Sector, the Russell 2000 and the S&P 500. A 20% buffer protects against losses up to 20% of the worst performing underlier; losses beyond that reduce principal dollar-for-dollar. The notes can auto-redeem on the first determination date for a fixed early redemption payment. Payments are subject to Morgan Stanley’s credit risk and the securities do not pay periodic interest.
Morgan Stanley Finance LLC offers Principal at Risk structured notes with an auto-callable feature linked to the worst performing of the Nasdaq-100 Technology Sector, Russell 2000, and S&P 500. Each security has a $1,000 stated principal amount and does not pay interest. The securities may be automatically redeemed on the first determination date (June 8, 2027) if each underlier meets its call threshold, producing an early redemption payment in the stated range. If not called, payoff at maturity (June 3, 2030) depends on the worst performing underlier: investors may receive principal plus an upside payment (150% participation) if all underliers finish above initial levels, receive only principal if all finish at or above 70% of initial levels, or suffer losses pro rata to the worst underlier (possible total loss).
Morgan Stanley Finance LLC priced a $22,550,000 offering of Trigger PLUS principal-at-risk securities fully and unconditionally guaranteed by Morgan Stanley. The notes pay no interest, mature on May 3, 2032, and reference a six-index basket with an observation date of April 28, 2032.
The securities return the $1,000 stated principal plus a 130% leverage factor on any appreciation of the underlier. If the final level is below the downside threshold of 75, investors lose 1% of principal for each 1% decline; there is no minimum payment. Issue price is $1,000 (estimated value on the pricing date: $960.80), agent commission $30 per security, and proceeds to issuer $970 per security.
Morgan Stanley Finance LLC is offering Principal at Risk Structured Investments—Enhanced Trigger Jump Securities due June 3, 2031 linked to the worst performing of the Dow Jones Industrial, Nasdaq-100 and Russell 2000 indices. Each security has a stated principal amount of $1,000 and an estimated value on the pricing date of approximately $964.90. At maturity investors either receive principal plus the greater of the worst-underlier percent change or an upside payment, or suffer losses if any underlier falls below its 70% downside threshold; there is no guaranteed return of principal and payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC offers market-linked notes tied to the EURO STOXX 50® Index, fully and unconditionally guaranteed by Morgan Stanley. Each note has a stated principal amount of $1,000 per note, does not pay interest, and will pay at maturity either the stated principal or the stated principal plus an upside payment if the underlier’s final level exceeds the initial level. The upside payment equals the stated principal amount multiplied by a participation rate (to be set on the pricing date between 106.50% and 116.50%) and the underlier percent change. The notes mature on May 29, 2031 with an observation date of May 26, 2031. All payments are subject to Morgan Stanley’s credit risk; notes are unsecured, not exchange listed, and may have limited secondary liquidity.
Morgan Stanley Finance LLC priced market-linked notes — Structured Investments due May 30, 2031, fully guaranteed by Morgan Stanley. Each note has a $1,000 stated principal amount and pays no periodic interest.
At maturity investors receive principal plus an upside payment if the S&P 500® Futures Excess Return Index final level exceeds the initial level; the upside equals stated principal × participation rate × underlier percent change. The participation rate will be set on the pricing date between 112% and 117%. The estimated value on the pricing date was approximately $941.00 per note.
Morgan Stanley Finance LLC offers Structured Investments — Buffered Jump Securities with an auto-call feature, fully guaranteed by Morgan Stanley.
Each security has a stated principal amount of $1,000 and an estimated value on the pricing date of approximately $972.40. The notes pay no interest, carry principal-at-risk protection with a 20% buffer, a 150% participation rate in the upside of the worst-performing underlier, a minimum payment at maturity of 20% of principal, an automatic early redemption test on June 8, 2027 and final maturity on June 3, 2030. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC priced market-linked notes due May 31, 2030, fully guaranteed by Morgan Stanley, linked to the S&P 500® Futures Excess Return Index. Each note has a $1,000 stated principal amount and pays no interest. At maturity investors receive principal and an upside payment equal to 100% participation in the underlier’s appreciation, capped at a maximum payment that will be set on the pricing date (illustrated as $1,587 to $1,637 per note). The estimated value on the pricing date is approximately $953.60 per note; the issue price is $1,000, which reflects issuance and hedging costs borne by investors. All payments are subject to Morgan Stanley’s credit risk and the notes will not be listed on any exchange.
Morgan Stanley Finance LLC is offering Buffered PLUS principal-at-risk securities due June 3, 2030. Each security has a stated principal amount of $1,000 and is linked to the worst performing of the Russell 2000® and S&P 500® indices. The payment at maturity depends on the worst performing underlier: investors receive the stated principal plus a leveraged upside if that underlier appreciates, the stated principal if the worst performing underlier finishes no worse than the 20% buffer, or a reduced amount (losing 1% per 1% decline beyond the buffer) subject to a 20% minimum payment. The leverage factor will be determined on the pricing date and is expected to be between 125% and 130%. All payments are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley and are subject to Morgan Stanley credit risk. Estimated value on the pricing date is approximately $971.20 per security, reflecting issuance, structuring and hedging costs included in the $1,000 issue price.
Morgan Stanley Finance LLC priced Principal at Risk structured notes linked to the S&P 500® Futures Excess Return Index with a $1,000 stated principal amount per security. The notes mature on May 30, 2031 and pay no interest. At maturity investors receive either (a) principal plus the greater of the underlier percent change or an upside payment (expected $507.50 to $527.50 per security), (b) a positive absolute-return payment if the final level is between the downside threshold (70% of the initial level) and the initial level, or (c) a loss of principal pro rata if the final level is below the downside threshold. The estimated value on the pricing date was approximately $937.20, reflecting issuance, structuring and hedging costs borne by investors. All payments are subject to Morgan Stanley Finance LLC credit risk and guaranteed by Morgan Stanley. Timing references: strike/pricing date May 26, 2026, issue date May 29, 2026, observation date May 27, 2031.
Morgan Stanley Finance LLC is offering Trigger PLUS principal-at-risk securities linked to the S&P 500® Futures Excess Return Index with a stated principal amount of $1,000 per security. The securities mature on June 3, 2031 and pay no interest. If the final index level on the observation date is above the initial level, holders receive principal plus a leveraged upside payment using a leverage factor to be set on the pricing date (disclosed range: 210%–215%). If the final level is between the initial level and a downside threshold (70% of the initial level), holders receive only principal. If the final level is below the downside threshold, holders incur losses equal to the percentage decline in the underlier, with no minimum payment and the possibility of losing the entire investment. Payments are unsecured obligations of MSFL and are fully guaranteed by Morgan Stanley; all payments are subject to Morgan Stanley’s credit risk. The estimated value on the pricing date was approximately $959.50 per security. The aggregate offering amount is not specified in the excerpt.
Morgan Stanley Finance LLC is offering Trigger PLUS principal‑at‑risk securities due June 3, 2030 linked to the worst performing of the Russell 2000® and the S&P 500®. Each security has a $1,000 stated principal amount and an issue price of $1,000. Payment at maturity depends solely on closing levels on the observation date May 29, 2030. If the final level of each underlier is above its initial level, investors receive principal plus a leveraged upside equal to the leverage factor times the appreciation of the worst performing underlier; the leverage factor will be set between 147% and 157%. If the worst performing underlier is at or above its downside threshold of 75% of its initial level, investors receive the stated principal amount. If the worst performing underlier is below that threshold, investors incur losses equal to the percentage decline of that underlier, potentially losing all principal. The preliminary estimated value on the pricing date is approximately $966.90 per security. All payments are subject to issuer and guarantor credit risk and the securities are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley.
Morgan Stanley Finance LLC is offering Dual Directional Buffered PLUS notes due May 30, 2031, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal and is linked to the worst performing of the Dow Jones Industrial Average, Nasdaq-100 and Russell 2000.
At maturity the payoff depends on the worst performing underlier: upside participation with a leverage factor determined on the pricing date (stated range 136%–151%), an absolute‑return participation feature if declines remain within a 20% buffer, and, if the worst underlier falls below the buffer, pro rata principal loss. The securities pay no interest, have an estimated value on the pricing date of approximately $930.80 and a minimum payment at maturity equal to 20% of principal.
Morgan Stanley Finance LLC is offering Trigger PLUS principal-at-risk notes due June 3, 2030, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an estimated value on the pricing date of approximately $959.60. Payoff depends on the worst performing of the Nasdaq-100 Technology Sector, Russell 2000 and S&P 500: investors receive leveraged upside if the worst underlier finishes above its initial level, principal if the worst underlier finishes between its initial level and a 70% downside threshold, or a prorated loss tied to the worst underlier if it finishes below that threshold. The leverage factor will be set on the pricing date (stated range 170%–175%). All payments are subject to issuer and guarantor credit risk, there is no guaranteed interest, and there may be limited secondary-market liquidity.
Morgan Stanley Finance LLC is offering Dual Directional Buffered PLUS notes due May 29, 2031, linked to the EURO STOXX 50® Index. The stated principal amount and issue price are $1,000 per security; the estimated value on the pricing date is approximately $930.90. At maturity the payout depends on the final index level: (1) if the final level > initial level, holders receive principal plus a leveraged upside (leverage factor set on pricing date between 144% and 159%); (2) if final level ≤ initial but ≥ the 85% buffer level, holders receive principal plus a positive return based on the absolute underlier return (100% participation) capped effectively at 15%; (3) if final level < buffer level, holders lose principal beyond the 15% buffer, with a minimum payment at maturity of 15% of principal. All payments are unsecured and guaranteed by Morgan Stanley and are subject to the issuer’s credit risk. This pricing supplement references the product, index, tax supplements and prospectus for full terms.
Morgan Stanley Finance LLC priced Dual Directional Buffered Participation Securities due May 30, 2031, principal-at-risk notes linked to the S&P 500® Index and fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an estimated value on the pricing date of approximately $937.00.
Payments at maturity depend on the index closing on the observation date: investors receive upside participation (100%) subject to a capped maximum payment of $1,585 to $1,605, a buffered absolute-return feature for declines down to 85% of the initial level, and a minimum payment of 15% of principal. All payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC priced a Trigger PLUS principal-at-risk note due June 3, 2031, fully guaranteed by Morgan Stanley. The securities have a stated principal amount of $1,000 per security, an estimated value on the pricing date of approximately $956, and are linked to the worst performing of the Nasdaq-100, Russell 2000 and S&P 500 indices.
Holders receive either principal plus a leveraged upside payment (400% leverage) capped at a $1,800–$1,850 maximum, return of principal if the worst underlier is no worse than 70% of its initial level, or a pro rata loss equal to the percent decline of the worst underlier if it falls below the 70% threshold. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC priced a structured, market-linked note offering: $500,000 aggregate principal of five-year notes due May 2, 2031, fully and unconditionally guaranteed by Morgan Stanley. Each note has a $1,000 stated principal amount and was issued at $1,000 per note with an estimated value of $943.60 on the pricing date.
The notes pay no interest and return at maturity either the stated principal or the stated principal plus an upside payment equal to the stated principal × 135% participation rate × the percent change of the worst performing underlier (STOXX Europe 600 and EURO STOXX 50). Payments are subject to Morgan Stanley’s credit risk, the notes are unsecured, and they will not be listed on an exchange.
Morgan Stanley Finance LLC offers Dual Directional Trigger PLUS securities due May 30, 2031, linked to the S&P 500® Futures Excess Return Index with a stated principal amount of $1,000 per security. The securities pay no interest and are fully guaranteed by Morgan Stanley. The payment at maturity depends on the index closing level on the observation date: if the final level is higher than the initial level, holders receive principal plus a leveraged upside (leverage factor to be set on the pricing date, disclosed as 159%–174%); if the final level is flat or down but ≥ the downside threshold (set at 60% of the initial level), holders receive principal plus an absolute-return payment based on a 50% participation rate (capped effectively at 20% under the stated terms); if the final level is below the downside threshold, holders suffer principal losses at a 1:1 rate and could lose their entire investment. All payments are subject to issuer and guarantor credit risk. The estimated value on the pricing date was approximately $931.60 per security.
The Dual Directional Trigger PLUS notes are unsecured, principal‑at‑risk securities issued by Morgan Stanley Finance LLC and fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and matures on May 30, 2031. Payout at maturity is determined solely by the worst performing of the Dow Jones Industrial Average, Russell 2000® and S&P 500®.
If every underlier is above its initial level, holders receive principal plus a leveraged upside. If the worst performing underlier is below its initial level but at or above its downside threshold (60% of initial), holders receive principal plus a capped positive return tied to the absolute decline (50% participation). If any underlier is below its downside threshold, holders lose 1% of principal for every 1% decline in that underlier; the payment could be significantly less than principal or zero. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering market-linked notes tied to the EURO STOXX 50® Index with a stated principal amount of $1,000 per note and a maturity date of June 3, 2031. The notes pay no interest; at maturity investors receive the stated principal plus an upside payment only if the final level exceeds the initial level. The participation rate will be set on the pricing date and is disclosed in the range 123% to 133%. The estimated value on the pricing date is approximately $967.00 per note. All payments are subject to Morgan Stanley and MSFL credit risk; the notes are unsecured and will not be listed.
Morgan Stanley Finance LLC priced a structured note offering of Dual Directional Buffered PLUS securities due November 2, 2027, fully guaranteed by Morgan Stanley. The securities link to the worst performing of the Russell 2000® and the S&P 500® indices, offer a 109.50% leverage factor on upside and a 10% buffer on declines, and have a $1,000 stated principal amount per security. The offering size is $1,448,000 aggregate principal, with an original issue price of $1,000 and an estimated value on the pricing date of $970.10. Payments at maturity depend solely on closing levels on the observation date, subject to a 10% minimum payment and full credit risk of the issuer/guarantor.
Morgan Stanley Finance LLC priced market-linked notes tied to the S&P 500 Futures Excess Return Index with a $1,000 stated principal per note. The notes mature on June 3, 2031 with an observation date of May 29, 2031 and pay no interest. At maturity, if the final index level exceeds the initial level, investors receive the stated principal plus an upside payment equal to the appreciation multiplied by a participation rate (to be set on the pricing date between 130.50% and 134.50%). If the final level is equal to or less than the initial level, investors receive only the stated principal. The estimated value on the pricing date was approximately $965.60 per note; the issue price is $1,000 per note. All payments are subject to issuer credit risk and the notes are unsecured and unlisted.
Morgan Stanley Finance LLC priced principal-at-risk notes linked to the S&P 500® Futures Excess Return Index due June 3, 2031. Each $1,000 security may pay an upside or absolute-return-based positive payoff if the index remains above a 70% downside threshold on the observation date of May 29, 2031; if the index finishes below that threshold investors lose 1% of principal for each 1% decline, potentially losing their entire investment. The estimated value on the pricing date was approximately $965.80 per security and all payments are subject to Morgan Stanley credit risk.
Morgan Stanley offers a priced supplement for Dual Directional Buffered PLUS notes due June 3, 2031, linked to the worst performing of the EURO STOXX 50® and the S&P 500®. Each note has a $1,000 stated principal and does not pay interest.
At maturity the payout is based on the worst performing underlier: a leveraged upside if the worst underlier appreciates, a capped positive return if the worst underlier declines but stays above a 20% buffer, and pro rata principal loss beyond the buffer subject to a 20% minimum payment. Payments are unsecured obligations of Morgan Stanley Finance LLC and are unconditionally guaranteed by Morgan Stanley; all payments remain subject to issuer credit risk.
Morgan Stanley Finance LLC is offering Trigger PLUS principal-at-risk securities due June 3, 2031, fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000, no periodic interest, and pays a leveraged upside if the worst performing underlier finishes above its strike.
Payment at maturity is determined by the worst performing of the Dow Jones Industrial Average and the S&P 500® Index on the observation date May 29, 2031. A downside threshold is set at 75% of the initial level; if either underlier is below that threshold, investors suffer a dollar-for-dollar loss based on that worst performing underlier. The leverage factor will be set on the pricing date between 143% and 158%. The estimated value on the pricing date is approximately $965.70 per security.