Morgan Stanley 424B Filings

Morgan Stanley Finance LLC is offering Buffered PLUS due December 3, 2027, unsecured principal-at-risk notes fully and unconditionally guaranteed by Morgan Stanley. Each Buffered PLUS has a $1,000 stated principal amount, a 150% leverage factor, a 10% buffer, a minimum payment of $100 and a maximum payment of $1,241.50. The pricing date was May 15, 2026 and the original issue date is May 20, 2026. Estimated value on the pricing date was approximately $924.90 per Buffered PLUS. Payments at maturity depend solely on the final basket value on the valuation date and are subject to issuer credit risk.

Morgan Stanley Finance LLC priced $554,000 of Structured Investments Jump Notes due May 2, 2033, fully and unconditionally guaranteed by Morgan Stanley. Each note has a $1,000 stated principal amount, an estimated value of $926.30 on the pricing date and an agent commission of $46 per note.

The notes reference the S&P U.S. Equity Momentum 40% VT 4% Decrement Index, pay no interest, and feature automatic early redemption if the closing level of the underlier on a determination date is greater than or equal to the call threshold level of 1,306.82. Participation is 100% of positive index performance; early redemption payments correspond to approximately 9.00% per annum on specified determination dates. At maturity, if the final level exceeds the initial level, investors receive principal plus the upside payment; otherwise they receive only principal. All payments are subject to the issuers and guarantors credit risk.

Morgan Stanley Finance LLC is offering $1,930,000 aggregate principal of Contingent Income Auto-Callable Securities due May 1, 2031, fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and an issue price of $1,000.

These principal-at-risk notes reference the Dow Jones Industrial Average, the Nasdaq-100 Index and the Russell 2000 Index, pay a contingent coupon at an annual rate of 9.00% only when all underliers meet coupon barrier levels on observation dates, are subject to automatic early redemption on specified redemption determination dates, and repay principal at maturity only if final levels meet downside thresholds; otherwise payment equals the stated principal multiplied by the performance factor of the worst performing underlier. Estimated value on the pricing date was $962.30.

Morgan Stanley Finance LLC priced April 27, 2026 structured notes—Enhanced Buffered Jump Securities—due May 12, 2027, issued at $1,000 per security with $1,000,000 aggregate stated principal. The notes are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley.

The securities pay no interest. If the S&P 500® Index final level on the observation date is at or above the buffer level (90% of the initial level), holders receive the $1,000 stated principal plus an $88 upside payment (8.80%). If the final level is below the buffer level, investors lose 1.1111% of principal for each 1% decline beyond the 10% buffer; there is no minimum payment and principal may be lost in full. Estimated value on the pricing date was $984.00 per security.

Morgan Stanley Finance LLC priced Principal at Risk Buffered Jump Securities due May 2, 2029, linked to the worst performing of the S&P 500, Nasdaq-100 Technology Sector and Russell 2000. The issue size is $241,000 aggregate at a $1,000 stated principal per security and an estimated value of $955.90 on the pricing date. The notes feature an automatic early redemption on the first determination date (April 29, 2027) for an early redemption payment of $1,125 if each underlier is at or above its call threshold. If not redeemed, maturity payoffs depend on the worst performing underlier, with a 20% buffer, a 150% participation rate for upside, and a minimum payment equal to 20% of principal. All payments are unsecured and guaranteed by Morgan Stanley and are subject to the issuer's credit risk.

Morgan Stanley Finance LLC priced principal-at-risk, auto-callable securities with $197,000 aggregate principal tied to the S&P500 Futures 40% Intraday 4% Decrement VT Index. Each security has a $1,000 stated principal, an estimated value of $902.90 on the pricing date, an issue date of April 30, 2026 and a maturity date of May 1, 2031. The notes pay no interest, can auto-redeem on periodic determination dates for fixed early redemption payments (approximately 16.00% per annum), and expose investors to full downside below a downside threshold of 1,876.782 (60% of the initial level). All payments are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley.

Morgan Stanley Finance LLC offers Buffered PLUS notes due May 1, 2031, linked to the worst performing of the Russell 2000 and S&P 500 and fully and unconditionally guaranteed by Morgan Stanley. The securities have a $1,000 stated principal amount per security and an aggregate principal amount of $268,000. At maturity investors may receive principal plus a leveraged upside payment (leverage factor 113%) if the worst performing underlier finishes above its initial level; if the worst performing underlier finishes below an 80% buffer level investors incur losses pro rata subject to a 20% minimum payment. All payments are subject to the issuer’s and guarantor’s credit risk.

Morgan Stanley Finance LLC issues Structured Investments Enhanced Buffered Jump Securities due November 1, 2029, fully guaranteed by Morgan Stanley. The offering totals $1,294,000 at a stated principal of $1,000 per security. Each security pays no interest, offers a fixed $268 upside payment (26.80%) if the S&P 5004 final level on the observation date is at or above a buffer level (~85% of the initial level), and protects only the first 15% of index declines. If the final level is below the buffer, investors lose 1% for each 1% decline beyond the buffer, subject to a minimum payment of 15% of principal. All payments are subject to issuer and guarantor credit risk; the estimated value on the pricing date was $968.50 per security and selling commissions of $30.50 per security apply.

Morgan Stanley Finance LLC priced structured, principal-at-risk securities linked to the S&P 500® Index. The offering consists of 24,334 securities with a stated principal amount of $1,000 per security (aggregate $24,334,000), original issue price $1,000 and an estimated value of $980.70 on the pricing date. The notes mature on May 13, 2027, pay a fixed upside payment of $109 (10.90%) if the final level is at or above the 90% buffer level, and expose investors to a 1.1111 downside factor beyond the 10% buffer. Payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley.

Morgan Stanley Finance LLC priced $1,031,000 aggregate principal of Dual Directional Buffered Jump Securities with an auto-callable feature, each with a $1,000 stated principal amount. The notes are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley, and are linked to the worst performing of Microsoft, Alphabet (Class C) and NVIDIA.

The securities pay no regular interest, may be automatically redeemed on the first determination date for an $1,390 early redemption payment, and at maturity provide either (a) principal plus upside (up to an effective 30% cap) if underliers appreciate, (b) a capped positive return if declines remain inside a 30% buffer, or (c) a pro rata principal loss beyond the buffer subject to a 30% minimum payment at maturity. All payments are subject to Morgan Stanley's credit risk.

Morgan Stanley Finance LLC is offering $23,892,000 aggregate principal of structured notes tied to the S&P 500® Index with a stated principal of $1,000 per security.

The notes mature on May 13, 2027 with an observation date of May 10, 2027. If the final level is at or above the buffer level, holders receive the stated principal plus a fixed $77.50 upside payment. If the final level is below the buffer level (20% below the initial level of 7,173.91), holders lose 1.25% of principal for every 1% decline beyond the buffer; there is no minimum payment and full loss of principal is possible. The estimated value on the pricing date was $981.60 per security and the issue price was $1,000 per security (agent commission $10 per security).

Morgan Stanley Finance LLC is offering principal-at-risk structured notes due May 13, 2031, fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and links returns to an allocated three-component basket (EFA ETF, S&P 500® Futures Excess Return Index, Russell 2000® Index). The notes feature a 20% buffer, a 100% participation rate and a maximum payment at maturity of $1,800 per security. Payments depend on the basket performance factor measured on the observation date and are subject to Morgan Stanley's credit risk, possible substantial principal loss, and tax uncertainty.

Morgan Stanley Finance LLC is offering Partial Principal at Risk Notes linked to the SPDR® Gold Trust (GLD). The notes have a stated principal of $1,000 per note, a partial principal return amount of 95% and a maximum payment at maturity of at least $1,116 per note. The strike and pricing dates are May 26, 2026, the observation date is June 8, 2027 and the maturity date is June 11, 2027. Payments at maturity depend solely on the closing level of the underlier on the observation date; upside is subject to a participation rate of 100% and capped by the stated maximum. Notes pay no interest, are unsecured, fully guaranteed by Morgan Stanley, and are subject to issuer credit risk and limited secondary-market liquidity.

Morgan Stanley Finance LLC priced Principal at Risk structured notes linked to the S&P 500® Index with a stated principal amount of $1,000 per security and an aggregate offering of $4,400,000. The notes mature on November 1, 2027 and provide three possible payoff paths: (1) if the final level is above the initial level of 7,173.91, investors receive principal plus 100% participation in upside capped at $1,170 per security; (2) if the final level is between the initial level and the buffer level of 6,097.824 (85% of the initial level), investors receive principal plus a positive return equal to the absolute decline (100% participation) effectively capped at 15%; (3) if the final level is below the buffer level, losses occur dollar‑for‑dollar beyond the 15% buffer, subject to a minimum payment of 15% of principal. The estimated value on the pricing date was $993.00 per security and the securities do not pay interest; all payments are subject to Morgan Stanley's credit risk.

Morgan Stanley Finance LLC priced $1,847,000 of Trigger PLUS notes due May 1, 2031. Each note has a $1,000 stated principal amount and pays at maturity either the stated principal or the stated principal plus a 185% leveraged upside on the S&P 500® Futures Excess Return Index, depending on the index level on the observation date. If the final level is below 70% of the initial level (initial level 578.34; downside threshold 404.838), holders lose 1% of principal for each 1% decline and could lose their entire investment. The original issue price is $1,000 and the estimated value on the pricing date was $929.70; selected dealers receive a $40 commission per security.

Morgan Stanley Finance LLC is offering Principal at Risk notes fully guaranteed by Morgan Stanley with an aggregate principal amount of $2,485,000 and an original issue price of $1,000 per security. The securities mature on May 2, 2029 and pay a contingent coupon of 8.85% per annum on each coupon payment date only if the closing level of each underlier is at or above its coupon barrier on the applicable observation date. The securities are linked to the worst performing of the Nasdaq-100, Russell 2000 and S&P 500 indices, have automatic early redemption if all underliers are at or above their call thresholds on a redemption determination date, and expose investors to full principal loss if the final level of the worst performing underlier is below its downside threshold (each downside threshold = 70% of initial level). The estimated value on the pricing date was $966.80 per security and the agent received a fixed commission of $27.50 per security.

Morgan Stanley Finance LLC priced a structured note offering: Contingent Income Memory Auto-Callable Principal at Risk Securities due May 1, 2031 linked to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index.

The notes have a stated principal of $1,000 per security, aggregate principal of $100,000, an issue price of $1,000 and an estimated value on the pricing date of $893.80. They pay a contingent coupon at an annual rate of 9.00% on observation dates if the underlier meets the coupon barrier (50% of initial). Automatic early redemption occurs if the underlier is at or above the call threshold (initial level). At maturity, investors receive principal only if the final level is at or above the downside threshold (50% of initial); otherwise payment equals principal multiplied by final/initial level, exposing investors to full downside to zero. All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley and remain subject to issuer credit risk.

Morgan Stanley Finance LLC priced a Principal-at-Risk note series guaranteed by Morgan Stanley. The securities are $1,000 stated principal per security, $100,000 aggregate, issued at $1,000 with an estimated value of $953.40. They track the S&P 500® Futures Excess Return Index, have an observation date of April 28, 2031 and mature on May 1, 2031. If the final level is at or above the initial level (initial level 578.34), holders receive the $1,000 principal plus a fixed upside payment of $562.50 (56.25%). If the final level is below the initial level but ≥ the downside threshold (404.838, 70% of initial), holders receive principal plus a positive return based on the absolute decline (capped effectively at 30%). If the final level is below the downside threshold, holders suffer proportional losses (1% loss for each 1% decline) and could lose their entire investment. All payments are subject to Morgan Stanley credit risk; secondary market liquidity and tax treatment are uncertain.

Morgan Stanley Finance LLC priced principal-at-risk, auto-callable structured notes fully guaranteed by Morgan Stanley. The offering is $100,000 aggregate in $1,000 per security denominations at an issue price $1,000 (estimated value on the pricing date: $940.20). The securities are linked to the worst performing of the S&P 500, Nasdaq-100 Technology Sector and Russell 2000 indices, mature on May 1, 2031, and are subject to automatic early redemption if all underliers meet their call thresholds on the first determination date (April 29, 2027). The participation rate is 150% for upside if all underliers finish above initial levels; downside protection is limited — the downside threshold is 70% of initial levels and investors lose 1% of principal for each 1% decline in the worst performing underlier. All payments are subject to Morgan Stanley and MSFL credit risk.

Morgan Stanley Finance LLC priced Principal at Risk notes linked to the Russell 2000® Index. The offering totals $496,000 aggregate and is issued at $1,000 per security with a stated principal of $1,000 each. The securities mature on November 1, 2029 and reference an observation date of October 29, 2029.

Key economic terms: a fixed upside payment of $298.50 per security (29.85%), a buffer amount of 15% (buffer level 2,369.961), and a minimum payment at maturity equal to 15% of principal. If the final level is below the buffer level, investors lose 1% for each 1% decline beyond the buffer. Estimated value on the pricing date was $967.60 per security and the agent commission was $30.50 per security.

Morgan Stanley Finance LLC priced buffered jump securities (Principal at Risk) linked to the worst performing of the VanEckreg; Gold Miners ETF (GDX) and the State Streetreg; SPDRreg; S&Preg; Metals & Mining ETF (XME). The securities have a $1,000 stated principal amount, an issue price of $1,000 and aggregate principal of $277,000. They offer an automatic early redemption feature with scheduled determination dates beginning October 27, 2026 and fixed early redemption payments corresponding to approximately 9.00% per annum. The buffer amount is 15%; if the final level of the worst performing underlier is below its buffer, investors lose 1% for each 1% decline beyond the buffer, subject to a 15% minimum payment at maturity. Final determination date is January 29, 2029 with maturity on February 1, 2029. All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley and are subject to issuer credit risk.

Morgan Stanley Finance LLC is offering structured, principal-at-risk notes due August 12, 2027 that are fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and is linked to the worst performing of the Russell 2000, S&P 500 and XLU ETF.

The securities pay a fixed $132 upside payment (13.20%) at maturity if the worst performing underlier is >= its 80% buffer level. If the worst performing underlier falls below the buffer, investors lose 1.25% of principal for every 1% decline beyond the 20% buffer; there is no minimum payment and investors may lose their entire investment.

Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable notes tied to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index, with a stated principal amount of $1,000 per security. The securities mature on May 15, 2031 and may be automatically redeemed on scheduled determination dates beginning May 13, 2027 if the underlier meets a call threshold equal to 90% of the initial level. Early redemption payments escalate, reflecting an approximate 15.00% per annum return schedule; the payment at maturity can be $1,750 if the final level is at or above the call threshold, return the principal if the final level is above the 50% downside threshold, or decline pro rata below that threshold. All payments are unsecured and guaranteed by Morgan Stanley and subject to the issuer’s credit risk. The pricing date and strike date are both May 12, 2026; the estimated value on the pricing date was approximately $899.20 per security.

Morgan Stanley Finance LLC offers structured, principal-at-risk notes—Contingent Income Memory Buffered Auto-Callable Securities due May 1, 2031—backed by a full guarantee of Morgan Stanley. The offering size is $637,000 aggregate principal at an issue price of $1,000 per security.

The notes pay a contingent annual coupon of 8.25% on observation dates when the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index closing level is at or above the coupon barrier (60% of the initial level). The securities are subject to automatic early redemption if the index meets the call threshold (100% of the initial level) on a redemption determination date. At maturity, if the final level is below the buffer level (80% of the initial level), principal is reduced based on index performance beyond the 20% buffer, with a minimum payment of 20% of principal. All payments are subject to issuer and guarantor credit risk.

Morgan Stanley Finance LLC is offering $2,106,000 principal of structured notes due May 1, 2031—Contingent Income Memory Buffered Auto-Callable Securities linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index, fully guaranteed by Morgan Stanley.

The notes have a stated principal of $1,000 each, an annual contingent coupon of 11.50% paid only when the underlier meets the coupon barrier on observation dates, an automatic early‑redemption feature beginning with the first redemption determination date on April 27, 2027, an 85% buffer (buffer amount 15%) and a minimum payment at maturity of 15% of principal.

Morgan Stanley Finance LLC priced a series of structured notes called Trigger PLUS, due May 8, 2031, fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and is linked to the worst performing of the EURO STOXX 50® Index and the iShares MSCI EAFE ETF. The securities pay no interest; at maturity they either (a) return principal plus a 193% leverage payment if the worst performing underlier appreciates, (b) return principal if the worst performing underlier is between its initial level and a 70% downside threshold, or (c) return principal multiplied by the performance factor of the worst performing underlier if that underlier falls below the downside threshold, producing potential loss of principal, including total loss. All payments are subject to Morgan Stanley's credit risk. The pricing-date estimated value was approximately $952.00 per security.

Morgan Stanley Finance LLC is offering Buffered PLUS principal-at-risk notes due December 1, 2027, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount. The notes provide 150% leverage on positive S&P 500® performance up to a $1,164 cap (116.40%), a 15% downside buffer, and a 15% minimum payment at maturity. The estimated value on the pricing date is approximately $986.20 per security. Aggregate principal amount is not specified in this preliminary pricing supplement.

Morgan Stanley Finance LLC priced Trigger PLUS notes — unsecured, principal‑at‑risk securities fully guaranteed by Morgan Stanley with an aggregate principal amount of $2,797,000 and a stated principal amount of $1,000 per security. The notes mature on May 1, 2031 and are linked to the worst performing of the Dow Jones Industrial Average and the S&P 500. If the final level of the worst performing underlier is above its initial level, holders receive the stated principal plus a 131% leverage on that underlier’s appreciation. If the worst performing underlier is at or above 70% of its initial level at observation, holders receive only principal. If the worst performing underlier is below 70% of its initial level, holders lose 1% of principal for each 1% decline in that underlier; the payment could be significantly less than principal or zero. The estimated value on the pricing date was $958.30 per security; agents receive a $35 commission per security. All payments are subject to Morgan Stanley’s credit risk.

Morgan Stanley Finance LLC priced a contingent income auto-callable principal-at-risk note program fully guaranteed by Morgan Stanley, offering securities with a $1,000 stated principal amount per security and an aggregate principal amount of $3,012,000. The securities pay a contingent coupon only if each underlying index meets its coupon barrier on observation dates, are subject to automatic early redemption if all underliers meet call thresholds on a redemption determination date, and at maturity repay principal only if each underlier is at or above its downside threshold; otherwise payoff equals the stated principal multiplied by the worst-performing underlier's performance factor, potentially resulting in a total loss of principal. The notes reference the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index, carry an estimated value on pricing of $965.50 per security, and include an annual contingent coupon rate of 10.50%. All payments are subject to Morgan Stanley's credit risk and the securities do not provide regular interest or participation in underlier appreciation.

Morgan Stanley Finance LLC priced Dual Directional Buffered PLUS notes due May 2, 2031, linked to the EURO STOXX 50® Index. The securities have a stated principal of $1,000 per security, an aggregate principal amount of $968,000, an issue price of $1,000 and an estimated value on the pricing date of $935.80.

Key economic terms: leverage factor 146%, absolute return participation rate 100%, buffer amount 15%, and a minimum payment at maturity of 15% of stated principal. Payments depend on the closing level of the underlier on the observation date; holders bear issuer credit risk.

Morgan Stanley Finance LLC priced buffered, auto-callable notes — Principal-at-risk securities linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index with a stated principal amount of $1,000 per security and an aggregate principal amount of $1,267,000. The notes pay no regular interest, may auto-redeem on specified determination dates if the underlier meets a call threshold (1,110.797), and mature on May 1, 2031. If not auto‑redeemed, a payment at maturity equals $1,512.50 if the final level is at or above the 85% buffer (1,110.797); below that, investors absorb losses beyond the 15% buffer, subject to a 15% minimum payment. All payments are subject to Morgan Stanley credit risk.

Morgan Stanley Finance LLC prices contingent income auto-callable notes fully guaranteed by Morgan Stanley offering principal-at-risk securities with a $1,000 stated principal amount per security. The securities pay a contingent coupon at an annual rate of 11.75% on scheduled coupon dates only if the underlier meets the coupon barrier level; unpaid coupons may be paid later subject to the stated conditions. The notes are automatically redeemable on specified determination dates if the underlier equals or exceeds the call threshold (100% of the initial level), and mature on May 12, 2031. At maturity, if the final level is below the downside threshold (60% of initial level), payment equals the stated principal multiplied by the performance factor and could be significantly less than principal or zero. The pricing date estimated value was approximately $908.90 per security; all payments remain subject to Morgan Stanley's credit risk.

Morgan Stanley Finance LLC priced Principal-at-Risk auto-callable securities linked to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index with a stated principal of $1,000 per security and aggregate principal of $100,000. The securities mature on May 1, 2031 (final observation date April 28, 2031) and pay a contingent coupon at an annual rate of 12.25% only if the underlier meets the coupon barrier on observation dates.

The initial level (strike) was 3,127.97; the call threshold equals that initial level. The coupon barrier is 70% of the initial level (2,189.579) and the downside threshold is 60% (1,876.782). Estimated value on the pricing date was $901.10 per security; issue price is $1,000 with an agent commission of $42.50 per security.

Morgan Stanley Finance LLC priced a series of principal‑at‑risk, contingent‑income, auto‑callable securities linked to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index. Each security has a stated principal amount of $1,000 and an original issue date of May 15, 2026. The securities pay a contingent coupon of 12.50% per annum on observation dates when the underlier is at or above the coupon barrier (60% of the initial level) and are subject to automatic early redemption if the underlier is at or above the call threshold (100% of the initial level) on a redemption determination date. If not called, payment at maturity (May 15, 2031) returns principal only if the final level is at or above the downside threshold (60%); otherwise investors suffer a loss proportional to the underlier’s decline. All payments are unsecured and guaranteed by Morgan Stanley and remain subject to issuer credit risk.

The document is a pricing supplement for Morgan Stanley Finance LLC's Dual Directional Trigger PLUS notes due May 1, 2031, fully guaranteed by Morgan Stanley. The offering price is $1,000 per security with an aggregate principal amount of $1,859,000. Payments at maturity depend on the worst performing of the Dow Jones Industrial Average, Russell 2000 and S&P 500. If the worst performing underlier finishes above its initial level, investors receive principal plus a leveraged upside (leverage factor 134.50%). If the worst performing underlier finishes between its initial level and the downside threshold (60% of initial), investors may receive a limited positive return (absolute return participation rate 50%, effectively capped at 20%). If the worst performing underlier finishes below the downside threshold, investors absorb losses on a 1%-for-1% basis and could lose their entire principal. All payments are subject to issuer and guarantor credit risk. The estimated value on the pricing date is $945.30 per security and the agent’s selling commission is $40 per security.

Morgan Stanley Finance LLC offers Buffered PLUS linked to the Nasdaq-100 Index with a $1,000 stated principal per security. The notes mature on December 1, 2027, use a 150% leverage factor for upside (capped at $1,201.50) and provide a 15% buffer against underlying losses; the minimum payment at maturity is 15% of principal. Payments depend on the closing index level on the observation date of November 26, 2027, are unsecured obligations of MSFL and are fully guaranteed by Morgan Stanley. All payments are subject to issuer credit risk and tax and liquidity considerations described in the supplement.

Morgan Stanley Finance LLC is offering structured, principal-at-risk, auto-callable notes with a stated principal amount of $1,000 per security that reference the worst performing of the Dow Jones Industrial Average, the Nasdaq-100 and the S&P 500. The securities have a 150% participation rate, a first determination date of May 17, 2027, a final determination date of June 8, 2029 and a maturity date of June 13, 2029. If each underlier meets its call threshold on the first determination date, the securities will auto‑redeem for an early redemption payment of $1,201. If not auto‑redeemed, payoff at maturity depends on the worst performing underlier: investors can receive the stated principal plus an upside payment, the stated principal only, or a reduced principal tied to the worst performing underlier (losses of 1% for each 1% decline below the downside threshold).

The pricing date and strike date are May 8, 2026. The estimated value on the pricing date was approximately $985.10 per security. All payments are unsecured obligations of MSFL and are fully guaranteed by Morgan Stanley and thus subject to the issuer and guarantor credit risk.

Morgan Stanley Finance LLC is offering Structured Investments — Buffered Jump Securities with an auto-callable feature, due May 1, 2031, fully guaranteed by Morgan Stanley. The securities have a stated principal of $1,000 per security and aggregate principal amount of $1,779,000.

Automatic early redemption may occur on specified determination dates if the underlier meets the call threshold of 1,306.82. If not called, maturity payments depend on the final level versus a buffer level of 1,110.797 (85% of initial level), with a minimum payment of 15% of principal.

Morgan Stanley Finance LLC priced $3,210,000 of Fixed Rate Callable Notes due April 30, 2030, guaranteed by Morgan Stanley. The notes pay 4.300% per annum semi‑annually, have an estimated value of $983.60 per note and were issued at $1,000 per note. The notes are callable on April 30, 2027 and October 30, 2027 if a risk neutral valuation model indicates redemption is economically rational; any redemption is at 100% of principal plus accrued interest. Proceeds will be used for general corporate purposes.

Morgan Stanley Finance LLC is offering principal-at-risk, callable contingent-income buffered securities linked to the worst performing of GOOG class C, META class A and NVDA common stock. Each note has a $1,000 stated principal amount and a contingent coupon at an annual rate of 19.75%, payable only when every underlier is at or above its coupon barrier on an observation date. The notes include a 20% buffer and a 20% minimum payment at maturity, but if the final level of the worst performing underlier is below its buffer, investors lose 1% of principal for every 1% the underlier falls beyond the buffer. The securities are callable beginning August 13, 2026 based on the output of a risk neutral valuation model, and all payments are subject to Morgan Stanley and MSFL credit risk.

Morgan Stanley Finance LLC prices contingent income, principal-at-risk notes due May 15, 2031. The notes have a $1,000 stated principal amount, an annual contingent coupon of 11.60% payable only if the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index meets the coupon barrier on observation dates, and a 15% buffer with a 15% minimum payment at maturity. Early automatic redemption is possible beginning May 12, 2027; estimated value on the pricing date was approximately $900.30 per security.

Morgan Stanley Finance LLC offers structured, principal-at-risk notes due May 15, 2031 linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. The securities have a $1,000 stated principal amount per security and an estimated value on the pricing date of approximately $903.30. Investors face automatic early redemption starting with the first determination date on May 13, 2027 with preset early redemption payments that imply about 12.50% per annum if called. The notes include a 15% buffer level (buffer amount) and a call threshold at 90% of the initial level. If not called, maturity payments depend on the final index level: a fixed upside payment if at or above the call threshold, return of principal if above the buffer, or a pro rata loss below the buffer subject to a 15% minimum payment. All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley and are subject to issuer credit risk and complex index features (including a 4% annual decrement and volatility targeting).

Morgan Stanley Finance LLC is offering structured, principal‑at‑risk Buffered Jump Securities tied to the S&P 500® Index, with a stated principal amount of $1,000 per security. The securities pay no interest and mature on May 13, 2027.

At maturity: if the final level is >= the initial level (initial level = 7,138.80), holders receive the stated principal plus an upside payment of $114 (an 11.40% return). If the final level is below the initial level but >= the buffer level 6,424.92 (90% of the initial level), holders receive the stated principal. If the final level is below the buffer level, losses occur proportionally beyond the 10% buffer, subject to a minimum payment at maturity of 10% of principal. The observation date is May 11, 2027. All payments are subject to Morgan Stanley's credit risk.

Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable notes due May 15, 2031 that are fully guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and a contingent annual coupon of 8.75% payable only if the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index closes at or above the coupon barrier (75% of the initial level) on observation dates. The notes feature automatic early redemption if the index closes at or above the call threshold (90% of the initial level) on a redemption determination date. At maturity, if the final level is below the buffer level (80% of the initial level), principal is reduced by the index decline beyond the 20% buffer, subject to a minimum payment of 20% of principal. All payments are subject to issuer and guarantor credit risk. The estimated value on the pricing date was approximately $905.20 per security.

Morgan Stanley Finance LLC offers Principal at Risk securities with a fixed 7.00% annual coupon and automatic early‑call features, fully and unconditionally guaranteed by Morgan Stanley. The securities have a $1,000 stated principal amount per security, a strike date of May 12, 2026, an observation date of May 12, 2031 and a maturity date of May 15, 2031. Investors receive monthly coupon payments and face principal risk if the final level of the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index is below an 85% buffer; payments at maturity may be reduced by 1% for each 1% decline beyond the 15% buffer, subject to a 15% minimum payment.

Morgan Stanley Finance LLC priced a principal-at-risk structured note offering totaling $4,564,000 consisting of 4,564 securities at a $1,000 stated principal amount each, due May 1, 2031 and fully guaranteed by Morgan Stanley. The securities reference the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index and carry an estimated value on the pricing date of $905.10 per security.

The notes feature an automatic early redemption if the closing level of the underlier meets or exceeds the call threshold level (1,176.138, 90% of the initial level) on any determination date after the first determination date of April 28, 2027. If not called, maturity payoffs depend on the final level versus the buffer level (1,110.797, 85% of the initial level); minimum payment at maturity is 15% of stated principal. All payments are subject to Morgan Stanley's credit risk.

Morgan Stanley Finance LLC offers Principal at Risk Structured Investments (Enhanced Trigger Jump Securities) due June 11, 2027 with a $1,000 stated principal amount per security. The securities pay no interest and return either the stated principal plus a fixed $114 upside payment if each underlier is at or above its 70% downside threshold on the observation date, or a principal payment reduced pro rata by the percentage decline of the worst performing underlier; the observation date is June 8, 2027.

The securities are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley, are exposed to Morgan Stanley credit risk, and have an estimated value on the pricing date of approximately $986.00 per security. The offering links payoff to the worst performing of the Nasdaq-100, Russell 2000 and S&P 500 indices and could result in a total loss of principal.

Morgan Stanley Finance LLC priced $64,373,000 of Structured Investments — Enhanced Buffered Jump Securities, fully guaranteed by Morgan Stanley. Each note has a $1,000 stated principal amount, an $91.50 upside payment (9.15%), a 15% buffer and a downside factor of 1.1765. The securities are issued at $1,000 (estimated value $981.40) with an observation date of May 10, 2027 and a maturity date of May 13, 2027. If the final level is below the buffer, investors lose principal at the stated downside factor and could lose their entire investment. All payments are subject to issuer and guarantor credit risk.

Morgan Stanley Finance LLC (guaranteed by Morgan Stanley) is offering Dual Directional Buffered PLUS securities at a stated principal amount of $1,000 per security (aggregate $100,000) with maturity on May 1, 2031. Payout is tied to the worst performing of the Dow Jones Industrial, Nasdaq-100 and Russell 2000 indices. The securities offer a 136.50% leverage factor for upside, a 20% buffer (payments limited to a positive return of 20% in certain scenarios), a 20% minimum payment at maturity, and expose investors to principal loss beyond the buffer. Estimated value on the pricing date was $939.10 per security and the agent’s commission was $36.25 per security.