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.
The pricing supplement for Morgan Stanley Finance LLC offers callable Contingent Income Securities due April 13, 2029, fully guaranteed by Morgan Stanley and issued at a stated principal amount of $1,000 per security. The notes pay a contingent coupon of 10.45% per annum for each interest period only if the closing level of each of three underliers (the S&P 500, Nasdaq-100 Technology Sector and Russell 2000) is at or above its coupon barrier level on the related observation date. The securities are principal-at-risk: if the final level of the worst performing underlier is below its downside threshold (60% of its initial level), the maturity payment equals the stated principal amount multiplied by the worst performing underliers performance factor, which could result in a significant loss of principal or a zero payment. The notes are callable on specified redemption dates beginning April 15, 2027, based on the output of a risk-neutral valuation model selected by the calculation agent; early redemption returns the stated principal plus any contingent coupon otherwise due. All payments are subject to Morgan Stanleys credit risk.
Morgan Stanley Finance LLC is offering Principal at Risk, auto-callable notes fully and unconditionally guaranteed by Morgan Stanley linked to the worst performing of the Nasdaq-100® Technology Sector, S&P 500® and Russell 2000®. The offering comprises an aggregate principal amount of $916,000 at a $1,000 stated principal amount per security and an issue price of $1,000 per security; the estimated value on the pricing date was $971.00 per security. The notes mature on January 13, 2028 and may be automatically redeemed on scheduled determination dates beginning July 10, 2026 if each underlier meets its call threshold. If not called, maturity payments depend on final levels: a fixed upside payment of $1,266.875 if all underliers are at or above their upside thresholds; return of principal if final levels are at or above 70% downside thresholds; otherwise investors suffer a loss equal to the percentage decline of the worst performing underlier. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC priced auto-callable, principal‑at‑risk notes due April 16, 2031 that reference the worst performing of the Dow Jones Industrial, Nasdaq-100 and Russell 2000 indices. Each security has a $1,000 stated principal amount and an original issue price of $1,000.
Automatic early redemption can occur on scheduled determination dates beginning April 14, 2027, with fixed early redemption payments (first payment $1,118.50 per security). If not called, maturity pays $1,592.50 if all final index levels meet call thresholds, returns principal if levels stay above 70% downside thresholds, or pays an amount reduced pro rata by the worst performing underlier (possible full loss).
Morgan Stanley Finance LLC priced a structured note offering: Buffered Jump Securities with an auto-callable feature, fully guaranteed by Morgan Stanley. The notes have a stated principal of $1,000 per security and aggregate principal of $1,600,000. They are linked to the Russell 2000® and S&P 500® indices and use the worst-performing underlier to determine payouts.
The notes pay no interest, include a 20% buffer, a minimum maturity payment of 20% of principal, fixed early redemption payments (approximately 10.00% per annum when auto‑called), and are subject to issuer credit risk and index performance. Estimated value on the pricing date was $969.80 per security.
Morgan Stanley Finance LLC is offering contingent income auto-callable securities due April 16, 2027, linked to the worst performing of the S&P 500® and Russell 2000® indices. Each security has a $1,000 stated principal amount and pays a contingent coupon only if both underliers meet barrier tests on specified observation dates.
The notes feature automatic early redemption on specified determination dates, a trigger event if either underlier falls below its 70% downside threshold during the term, and principal-at-risk exposure where losses equal 1% per 1% decline in the worst performing underlier. All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley, and are subject to issuer credit risk.
Morgan Stanley Finance LLC priced Buffered PLUS securities due April 16, 2031, each with a $1,000 stated principal amount and sold at $1,000 per security. The notes are linked to the worst performing of the Dow Jones Industrial Average and the S&P 500; upside is leveraged (137.50%) and a 15% buffer applies to the worst performing underlier. If the worst performing underlier finishes above its initial level, investors receive principal plus the leveraged upside; if it finishes between the buffer level and the initial level, investors receive principal; if it finishes below the buffer level, investors lose 1% of principal for each 1% decline beyond the 15% buffer, subject to a 15% minimum payment at maturity. Securities are unsecured obligations of MSFL, guaranteed by Morgan Stanley, and all payments are subject to issuer credit risk. The estimated value on the pricing date was $985.60 per security and the aggregate principal offered was $526,000.
Morgan Stanley Finance LLC priced a contingent-income, principal-at-risk note — unsecured obligations of Morgan Stanley Finance LLC, fully guaranteed by Morgan Stanley — linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. The securities have a $1,000 stated principal amount, aggregate issuance of $2,912,000, an estimated value on the pricing date of $907.60 per security, and pay a contingent coupon of 9.00% per annum only if the underlier meets barrier tests on specified observation dates. The notes are auto-callable beginning April 12, 2027 if the underlier ≥ call threshold (1,032.453), provide an 85% buffer (buffer level 975.095) with a 15% minimum payment at maturity, and expose investors to credit risk of Morgan Stanley and to losses below the buffer.
Morgan Stanley Finance LLC is offering Buffered PLUS notes due April 16, 2031, fully guaranteed by Morgan Stanley, tied to the S&P 500® Futures Excess Return Index. The notes have a $1,000 stated principal amount, aggregate principal of $265,000, an initial level of 550.19 and a 161% leverage factor on any upside. Investors receive principal if the final level is at or above an 80% buffer level (440.152); below that buffer they lose 1% for each 1% decline beyond the 20% buffer, subject to a 20% minimum payment. The agent’s commission is $36.25 per security and the estimated value on the pricing date is $937.30 per security.
Morgan Stanley Finance LLC is offering contingent income auto-callable securities due October 21, 2027 with a 1-year initial non-call period. The notes are principal-at-risk and fully guaranteed by Morgan Stanley; all payments depend on the worst-performing of Micron, NVIDIA and Broadcom shares.
The securities pay a 23.00% annual contingent coupon (approximately $115 per semi-annual period) only if each underlying stock closes at or above 50% of its initial share price on an observation date. Automatic early redemption may occur on semi-annual redemption dates beginning April 21, 2027 if each underlying closes at or above its 100% redemption threshold. Estimated value on the pricing date was approximately $960.70 per security.
Morgan Stanley Finance LLC priced Principal at Risk securities fully guaranteed by Morgan Stanley that pay no interest and expose investors to loss of principal. The offering is $1,000,000 aggregate ($1,000 per security) with an 8.11% upside payment ($81.10) if the S&P 500® final level on the observation date is at or above the downside threshold.
The initial level was 6,824.66 (strike date), the downside threshold is 5,118.495 (75% of initial level), the observation date is April 22, 2027 and maturity is April 27, 2027. If the final level is below the threshold, holders lose in proportion to the index decline and could lose their entire principal. Estimated value on the pricing date was $989.30.
Morgan Stanley Finance LLC priced Principal at Risk securities linked to the S&P U.S. Equity Momentum 40% VT 4% Decrement Index. The notes have a $1,000 stated principal amount, $1,000 issue price, estimated value of $908.50, automatic early‑redemption beginning on April 13, 2027, and maturity on April 16, 2031. The securities feature a 15% buffer, a minimum payment at maturity of 15% of principal, a call threshold and fixed early redemption schedule delivering approximately 17.25% per annum if called. All payments are unsecured and guaranteed by Morgan Stanley and subject to issuer credit risk.
Morgan Stanley Finance LLC is offering Structured Investments — Enhanced Trigger Jump Securities due May 27, 2027, fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and an upside payment of $88 (8.80%) if the final level of the worst performing underlier is at or above its 60% downside threshold on the observation date. If any underlier finishes below its 60% threshold, payment at maturity equals the stated principal amount multiplied by the performance factor of the worst performing underlier, so investors may lose up to their entire principal. The securities reference three underliers — the Invesco S&P 500® Equal Weight ETF, the Nasdaq-100® Index and the Russell 2000® Index — and are priced to include issuance, selling, structuring and hedging costs; the estimated value on the pricing date was approximately $986.40 per security. All payments are subject to issuer and guarantor credit risk, and the securities do not pay interest.
Morgan Stanley Finance LLC priced Trigger PLUS principal-at-risk securities linked to the worst performer of the Nasdaq-100, Nasdaq-100 Technology Sector and VanEck Semiconductor ETF. Each security has a stated principal amount of $1,000, a 163% leverage factor for upside, an estimated value on the pricing date of approximately $924.10, a pricing/strike date of April 28, 2026 and a maturity date of May 1, 2031. Payment at maturity depends solely on the worst performing underlier: investors receive principal plus leveraged upside if that underlier appreciated; full principal if the worst underlier is between its initial level and an 80% downside threshold; otherwise principal loss is pro rata to the worst underlier’s decline and the payment could be zero. All payments are subject to MSFL’s and Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC priced Structured Investments Jump Notes (auto-callable) due May 1, 2031, fully and unconditionally guaranteed by Morgan Stanley. Each note has a $1,000 stated principal amount and issue price, an estimated value on the pricing date of approximately $941.60, and is linked to the worst performing of four underliers: AVGO, META, GOOG, NVDA.
The notes may be automatically redeemed on scheduled determination dates beginning April 28, 2027 for fixed early redemption payments (ranging from $1,108 to $1,432 per note). If not auto‑redeemed, a final payment equals a fixed positive amount if every underlier meets its call threshold on the final determination date; otherwise investors receive the stated principal.
Morgan Stanley Finance LLC prices an auto-callable, principal-at-risk structured note offering with an aggregate face amount of $2,500,000 linked to the lowest performing of the Dow Jones Industrial Average, the Russell 2000® Index and the S&P 500® Equal Weight Index. The securities have a face amount of $1,000 per security, a pricing date of April 10, 2026, an original issue date of April 15, 2026 and a stated maturity of April 15, 2032. The notes are automatically callable on specified semiannual calculation days beginning April 15, 2027, pay a fixed call payment if all underlyings meet call thresholds, and otherwise expose holders at maturity to the downside performance of the lowest performing underlying (potential loss of more than 25%, possibly all). The estimated value on the pricing date is $986.50 per security; all payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC priced a preliminary offering of principal‑at‑risk structured notes due April 28, 2027, fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and an upside payment of $65 (6.50%) if the worst performing underlier finishes at or above its downside threshold.
Payment at maturity is based on the worst performing of the Russell 2000® and the S&P 500® indices; if either underlier finishes below 60% of its initial level, investors lose in direct proportion to that worst performance. The pricing‑date estimated value is approximately $982.80 per security.
Morgan Stanley Finance LLC priced $1,580,000 of auto-callable structured "jump" notes linked to the worst-performing of Alphabet (GOOGL), NVIDIA (NVDA) and Palantir (PLTR). Each $1,000 note was issued at $1,000 with an estimated value of $943.50 on the pricing date and pays no interest.
The notes carry an automatic early redemption feature on the first determination date (April 16, 2027) if each underlier is at or above a 90% call threshold; the early redemption payment is $1,120.50 per note. If not redeemed early, maturity payment (April 15, 2031) depends on the worst-performing underlier: investors receive the stated principal plus a potential upside equal to 125% participation of the worst underlier’s appreciation, but if any underlier is at or below its initial level at maturity, investors receive only the stated principal. All payments are unsecured and subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is offering auto-callable, principal‑at‑risk structured notes fully guaranteed by Morgan Stanley with a $1,000 stated principal per security and an aggregate principal amount of $7,019,000. The securities can be automatically redeemed on scheduled determination dates beginning April 16, 2027 for rising fixed early redemption payments (first payment $1,112), and mature on April 15, 2031. If not called, maturity payouts depend on each underlier meeting call thresholds (initial levels equal to strike levels) or downside thresholds set at 80% of initial levels; a final full loss occurs if the worst performing underlier falls below its downside threshold. The issue price is $1,000 (estimated value $957.40) with agent commissions of $25 and proceeds to the issuer of $975 per security. All payments are subject to Morgan Stanley’s credit risk and other risks described in the document.
Morgan Stanley Finance LLC priced Structured Investments Enhanced Trigger Jump Securities due April 15, 2031, linked to the S&P 500® Index and fully guaranteed by Morgan Stanley. The securities have a $1,000 stated principal amount, an aggregate principal amount of $1,831,000 and an estimated value on the pricing date of $966.20 per security. At maturity, if the final level is at or above the downside threshold (80% of the initial level), holders receive principal plus the greater of a $250 upside payment or the underlier percent change, capped at $1,888.40. If the final level is below the downside threshold, investors suffer a pro rata loss (1% loss of principal per 1% index decline) and could lose their entire investment.
Morgan Stanley Finance LLC priced Principal-at-Risk, contingent-income, auto-callable securities with an aggregate principal amount of $520,000 and a stated principal of $1,000 per security. The securities pay a contingent coupon at an annual rate of 8.00% on observation dates when the underlier meets the coupon barrier.
The underlier is the S&P® 500 Futures 40% Intraday 4% Decrement VT Index with an initial level of 2,612.09. The call threshold is 2,220.277 (~85% of the initial level) and the coupon barrier/downside threshold is 1,306.045 (50% of the initial level). If not called, maturity is April 15, 2031; if the final level is below the downside threshold, investors suffer a proportional principal loss (payment = stated principal × performance factor).
Morgan Stanley Finance LLC is offering structured, principal‑at‑risk notes due April 12, 2030, fully guaranteed by Morgan Stanley, linked to the S&P 500® Index. Each security has a stated principal amount of $1,000; aggregate principal offered is $2,302,000. The initial (strike) level is 6,824.66 (April 9, 2026) and the observation (final) level is set for April 9, 2030. If the final level is at or above the initial level, investors receive principal plus a fixed $295 upside payment (29.50%). If the final level falls but remains at or above an 80% buffer level, investors may receive a positive return equal to the absolute decline multiplied by a 300% participation rate, capped effectively at 60%. If the final level is below the buffer, investors incur losses dollar‑for‑dollar beyond the 20% buffer, subject to a minimum payment at maturity of 20%. The estimated value on the pricing date was $977.10 per security and the price to public is $1,000 (agent commissions $7.50). All payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is offering Principal at Risk Callable Contingent Income Securities due February 23, 2028, fully guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and a contingent coupon payable at an annual rate of 9.45% only if each underlier meets its coupon barrier on observation dates. The securities are linked to the worst performing of three underliers (XLI Fund, NDXT Index, RTY Index), feature a call mechanism tied to a risk neutral valuation model, and expose investors to full credit risk of Morgan Stanley and potential principal loss if the worst performing underlier falls below its downside threshold.
Morgan Stanley Finance LLC is offering Buffered PLUS notes due April 12, 2029, fully and unconditionally guaranteed by Morgan Stanley, with an aggregate principal amount of $625,000 and a stated principal amount of $1,000 per security. The securities reference the S&P 500® Futures Excess Return Index and have an initial level of 547.66 and a leverage factor of 123%.
Payment at maturity depends on the final level on the observation date (April 9, 2029): upside pays stated principal plus 123% of appreciation; if final level is between the buffer level (410.745, 75% of initial) and initial, investors receive stated principal; below the buffer investors lose 1% for each 1% decline beyond the 25% buffer, subject to a minimum payment of 25% of principal. All payments are subject to issuer credit risk. The estimated value on the pricing date was $973.70 per security.
Morgan Stanley Finance LLC is offering $5,423,000 of principal-at-risk, market-linked securities fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 face amount, an estimated value at pricing of $952.30 and a 300% participation rate in the positive performance of the lowest-performing underlying stock. The securities are auto-callable on April 13, 2027 for a fixed call payment of $1,440 (44% of face). If not called, the maturity payment depends on the lowest-performing stock on the calculation day (April 9, 2029), includes a contingent absolute return feature capped at 40%, and exposes holders to potential losses greater than 40%, including a complete loss of principal. All payments are subject to Morgan Stanley's credit risk; investors should review the product supplement, tax supplement and prospectus linked in the offering materials.
Morgan Stanley Finance LLC priced Structured Investments Enhanced Buffered Jump Securities due April 13, 2033, unsecured notes fully and unconditionally guaranteed by Morgan Stanley. The securities have a $1,000 stated principal amount, $909,000 aggregate issuance and an estimated value of $938.50 on the pricing date.
At maturity the payoff pays a fixed $621.50 upside per security if the final level is at or above a 15% buffer (buffer level 5,765.389). If the final level is below the buffer, investors lose 1% of principal for each 1% decline beyond the buffer; the minimum payment is 15% of principal.
Morgan Stanley Finance LLC priced market-linked notes linked to the EURO STOXX 50® Index, with a stated principal amount of $1,000 per note and an aggregate offering of $250,000. The notes mature on April 15, 2031 and pay no periodic interest; at maturity investors receive principal and, if the index closes above the initial level of 5,913.37, an upside payment equal to the stated principal amount × 118.50% × underlier percent change. The estimated value on the pricing date was $966.00 per note. All payments are unsecured and subject to Morgan Stanley's credit risk; the notes will not be exchange-listed.
Morgan Stanley Finance LLC priced partial principal at risk notes linked to the S&P 500® Index due April 19, 2029. Each note has a $1,000 stated principal amount and a 95% partial principal return at maturity; the notes pay no interest and carry Morgan Stanley credit risk. If the final index level is above the initial level, investors receive the $1,000 plus 80% participation in the index appreciation. If the index declines, investors lose 1% of principal for each 1% decline, subject to the 95% floor.
Morgan Stanley Finance LLC priced preliminary terms for floating rate notes due April 14, 2033. The notes pay a quarterly variable rate equal to compounded SOFR plus 0.80%, subject to a 0.10% per annum minimum. Stated and issue price are $1,000 per note; estimated value on the pricing date is $972.70 per note. The notes are fully and unconditionally guaranteed by Morgan Stanley, will be book‑entry only, not listed, and proceeds will be used for general corporate purposes.
Interest is determined by daily‑compounded SOFR over each quarterly period (rate set on each period end‑date), with a rate cut‑off rule for the final period. All payments are subject to issuer credit risk; the calculation agent is an affiliate and will make determinations in its discretion.
Morgan Stanley Finance LLC is offering structured, principal-at-risk Buffered Participation Securities fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal, a 100% participation rate in upside (capped at a $1,252.50 maximum payment), a 20% buffer (buffer level 80), and a minimum payment of 20% of principal. The securities pay no interest, rely on the basket of EEM, EFA and the S&P MidCap 400, and mature on February 23, 2028. Payments depend on the closing underlier level on the observation date and are subject to Morgan Stanley's credit risk, hedging/modeling assumptions, and U.S. federal income tax uncertainty.
Morgan Stanley Finance LLC is offering principal-at-risk, structured notes due June 2, 2027, fully and unconditionally guaranteed by Morgan Stanley. The securities pay no interest and return depends on the worst performing of the Russell 2000® and the S&P 500® indices on the observation date; if the worst performing underlier is at or above its 85% downside threshold at observation, investors receive the $1,000 stated principal plus a fixed $136.50 upside payment (13.65%). If the worst performing underlier is below its downside threshold, repayment equals principal multiplied by that underlier’s final/initial performance factor, and could be significantly less than principal or zero. The preliminary pricing estimates the securities’ value at approximately $972.20 on the pricing date; aggregate principal amount and dealer commissions are not stated in this supplement.
Morgan Stanley Finance LLC is offering Principal-at-Risk structured notes linked to Meta Platforms, Inc. Class A common stock, due October 15, 2026, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 original issue price and an estimated value on the pricing date of approximately $989.40. The notes pay a contingent coupon at an annual rate of 14.24% on observation dates when the underlier closes at or above the coupon barrier ($502.712, 80% of the initial level). The notes are automatically redeemable if the underlier closes at or above the call threshold ($628.39) on a redemption determination date. At maturity, if not redeemed, principal is returned only if the final level is at or above the buffer level ($502.712); otherwise investors suffer losses equal to 1.25% of principal for every 1% the underlier declines beyond the 20% buffer.
Morgan Stanley Finance LLC priced Structured Investments: Enhanced Trigger Jump Securities due April 27, 2027, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and offers a fixed upside payment of $81.10 (8.11%) if the S&P 500® Index final level is greater than or equal to the downside threshold. If the final level is below the downside threshold (5,118.495, 75% of the initial level of 6,824.66), investors suffer proportional principal loss (1% loss per 1% decline), with no minimum payment at maturity. Estimated value on the pricing date was approximately $989.30 per security; the issue price is $1,000, with $5 agent fee per $1,000. The securities pay no interest, are unsecured obligations of MSFL, and all payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC is offering Buffered PLUS with Downside Factor principal-at-risk securities linked to the MSCI EAFE® Index. The offering totals $9,183,100 at a $10 stated principal amount per security, with a 150% leverage factor, a 10% buffer (90% buffer level), a maximum payment of $13.47 per security and a maturity date of April 12, 2028. Payments depend solely on the index closing level on the observation date and are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley. The securities pay no interest, may return less than principal at maturity (including zero), and all payments are subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC filed an amendment to the pricing supplement for its Fixed Rate Callable Notes due 2031, adding $100,000 of notes to the prior issuance so the combined tranche will total $12,193,000. The notes pay 6.100% per annum semi‑annually and may be redeemed annually beginning November 13, 2027 if a risk neutral valuation model determination (made 13 months before a redemption date) finds redemption economically rational. The notes carry the same CUSIP/ISIN as the existing tranche, are book‑entry only, are fully guaranteed by Morgan Stanley, and are subject to the issuer’s credit risk.
Morgan Stanley Finance LLC is offering Structured Investments — Callable Contingent Income Securities due April 12, 2029, fully and unconditionally guaranteed by Morgan Stanley. The offering totals $744,000 in aggregate principal at $1,000 per security. The notes pay a contingent coupon of 12.00% per annum on each interest period only if the closing level of each underlier (the Dow Jones Industrial Average, Nasdaq-100 and Russell 2000) is at or above its coupon barrier (70% of the initial level) on the related observation date. The securities are principal-at-risk: at maturity investors receive principal only if each underlier is at or above its 70% downside threshold; otherwise payment equals principal multiplied by the worst-performing underlier's performance factor and could be significantly less or zero. The notes may be called early beginning October 13, 2026, if a risk-neutral valuation model determines redemption is economically rational for the issuer. All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC is offering variable‑coupon, auto‑callable notes due April 21, 2031, fully and unconditionally guaranteed by Morgan Stanley. Each note has a stated principal amount of $1,000 and pays either a higher coupon of 9.35% or a lower coupon of 0.25% per annum depending on observation‑date performance of four equity underliers (Amazon, Palantir, Micron and Tesla). The notes pay the higher coupon only if the closing level of each underlier meets its coupon barrier on the related observation date and will be automatically redeemed early if each underlier meets its call threshold on a redemption determination date. The estimated value on the pricing date is approximately $938.70 per note. All payments are subject to issuer credit risk, the notes are unsecured, will not be listed, and you will not participate in any appreciation of the underliers.
Morgan Stanley Finance LLC is offering structured, principal-at-risk notes due February 16, 2029, guaranteed by Morgan Stanley. Each security has a $1,000 stated principal and an issue price of $1,000 (estimated value $974.50 on pricing date). The securities pay a contingent coupon at an annual rate of 10.70% for each interest period only if the closing level of all three underliers meets or exceeds their coupon barrier levels on the relevant observation dates. The notes are linked to the worst-performing of the Dow Jones Industrial Average, Nasdaq-100® Technology Sector and Russell 2000® indices, and the downside threshold for each underlier is 70% of its initial level; if the worst-performing underlier finishes below that threshold, investors suffer principal loss proportional to that decline. The securities are callable beginning on February 19, 2027 if, based on the output of a risk neutral valuation model, early redemption is economically rational for the issuer. All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC offers contingent income auto-callable securities fully and unconditionally guaranteed by Morgan Stanley, linked to the worst performing of the S&P 500®, Russell 2000® and Nasdaq-100®. Each security has a stated principal amount of $1,000, a contingent coupon payable at an annual rate of 6.25% (paid only if all underliers meet coupon barrier tests on observation dates), automatic early‑redemption mechanics tied to call threshold levels, and potential principal loss at maturity if a trigger event occurs. Pricing and strike dates are April 21, 2026 with original issue date April 24, 2026 and maturity October 26, 2027. The document states an estimated value on the pricing date of approximately $968.60 per security. All payments are subject to the issuer’s and guarantor’s credit risk; investors do not participate in any appreciation of the underliers and may receive no coupons or lose some or all principal depending on index performance.
The pricing supplement amendment describes a $100,000 aggregate offering (100 securities) of Principal-at-Risk notes issued by Morgan Stanley Finance LLC and fully guaranteed by Morgan Stanley. Each security has a stated principal of $1,000, an original issue price of $1,000 and an estimated value on the pricing date of $949.60. The notes pay a contingent coupon at an annual rate of 16.75% only if the iShares® Bitcoin Trust ETF closing level on each observation date meets or exceeds a coupon barrier. The notes are automatically redeemable on specified redemption determination dates if the underlier meets the call threshold, and otherwise expose holders to principal loss beyond a 10% buffer (buffer level = $34.578) with a minimum payment at maturity of 10% of principal. All payments are subject to issuer and guarantor credit risk; the securities do not provide regular interest and do not confer ownership or dividends of the underlier.
Morgan Stanley Finance LLC is offering principal-at-risk, contingent income auto-callable securities tied to the Class A common stock of Workday, Inc. The securities have a $1,000 stated principal amount, an aggregate offering of $375,000, a pricing/strike date of April 7, 2026, and mature on April 12, 2028. They pay a contingent coupon at an annual rate of 17.75% only if the underlier meets observation-date barriers, are callable early if the underlier equals or exceeds the call threshold, and expose investors to full principal loss if the final level falls below the downside threshold ($63.755, 50% of the initial level). All payments are subject to the issuer and guarantor credit risk; estimated value at issuance was $973.10 per security.
Morgan Stanley Finance LLC is offering structured, principal-at-risk notes linked to the worst performing share of Apple, Micron and NVIDIA with an automatic early redemption feature and a final maturity of April 20, 2029.
Each security has a stated principal amount of $1,000, an estimated value on the pricing date of approximately $942.40, an early redemption payment of $1,365 on the first determination date, an upside participation rate of 300%, a buffer of 30%, and a minimum payment at maturity of 30%.
Morgan Stanley Finance LLC priced a structured note offering: Buffered Jump Securities with an auto-callable feature linked to the worst performing of the S&P 500 and Russell 2000. Each security has a stated principal amount of $1,000, an aggregate principal amount of $250,000, and an estimated value on the pricing date of $958.10. The notes can be automatically redeemed on specified determination dates for fixed early redemption payments (approximately 9.20% per annum equivalent), provide a 25% buffer before principal losses apply, and carry a 25% minimum payment at maturity. All payments are subject to issuer and guarantor credit risk and the securities do not pay interest.
Morgan Stanley Finance LLC priced a contingent income auto-callable note offering fully guaranteed by Morgan Stanley. The notes have a stated principal amount of $1,000 per security and an aggregate principal amount of $907,000, with an issue price of $1,000 and an estimated value on the pricing date of $947.30 per security. The securities pay a contingent annual coupon of 8.00% only if the closing level of each underlier meets its coupon barrier on observation dates, feature automatic early redemption if all underliers meet call thresholds, and return principal at maturity only if the final levels are at or above downside thresholds; otherwise investors suffer losses equal to the decline in the worst performing underlier. All payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC offers principal-at-risk, auto-callable securities linked to The Goldman Sachs Group, Inc. Each security has a stated principal amount of $1,000 and an original issue price of $1,000. The securities pay a 13.00% annual contingent coupon only if observation-date levels meet the coupon barrier of $604.905 (70% of the initial level). Automatic early redemption can occur on specified redemption determination dates if the closing level is at or above the call threshold of $864.15 (100% of the initial level). If not redeemed, maturity payment depends on the final level relative to the downside threshold of $604.905; payments can result in full principal, partial principal based on the performance factor (final level/initial level), or total loss of principal. All payments are subject to issuer and guarantor credit risk. The aggregate principal offered is $3,755,000 and the estimated value on the pricing date is $966.30 per security.
Morgan Stanley Finance LLC is offering Principal-at-Risk notes due April 19, 2029, linked to the S&P 500® Index. Each note has a $1,000 stated principal amount and will pay no interest; at maturity investors receive either $1,000 plus an 80% participation in any appreciation or a reduced principal down to a 95% floor if the index declines.
Payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley and are subject to the issuer’s credit risk, limited secondary market liquidity, tax treatment as a contingent payment debt instrument, and various conflicts of interest including that Morgan Stanley affiliates act as calculation agent and potential distributor.
Morgan Stanley Finance LLC is offering principal-at-risk structured notes linked to the worst performing of Alphabet Class A, Microsoft and Palantir common stocks, due April 20, 2029. Each security has a stated principal amount of $1,000, an estimated value on the pricing date of about $943.60, and does not pay periodic interest.
The notes feature an automatic early redemption on the first determination date (April 19, 2027) for an early redemption payment of $1,355 if every underlier equals or exceeds its call threshold. At maturity the payout depends on the worst performing underlier with a 30% buffer, a 300% upside participation rate, and a minimum payment of 30% of principal.
Morgan Stanley Finance LLC is offering Autocallable Notes linked to a weighted basket of five global indices for a total Price to Public of $2,041,000 (Issue Price: $10.00 per Security). The notes carry a Call Return Rate of 12.60% per annum with annual Observation Dates beginning April 14, 2027, a Final Observation Date of April 9, 2029, and a Maturity Date of April 12, 2029. If the Basket closes at or above the Initial Basket Level (100) on any Observation Date, the notes are automatically called and pay a fixed Call Price (examples: $11.26, $12.52, $13.78). If not called and the Final Basket Level is below 100, principal is reduced proportionately to the negative Basket Return. Estimated value on the Trade Date was stated as $9.552 per Security; the offering bears the credit risk of Morgan Stanley and MSFL.
Morgan Stanley Finance LLC is offering $2,485,000 of Autocallable Notes linked to the S&P 500® Index due April 12, 2029, fully guaranteed by Morgan Stanley. The notes pay no interest, have an Issue Price of $10 and an estimated Trade Date value of $9.712 per Security. If the S&P 500 closes at or above the initial level of 6,616.85 on any annual Observation Date beginning April 14, 2027, the notes will be automatically called and pay a fixed Call Return based on an 11.10% per annum Call Return Rate (Call Prices: $11.11, $12.22, $13.33). If not called and the Final Level is below the Initial Level, principal is reduced proportionately to the full decline in the index; investors do not participate in upside beyond the fixed Call Return. Payments are subject to issuer credit risk; secondary market liquidity may be limited.
Morgan Stanley Finance LLC priced principal-at-risk notes linked to the worst performer of the S&P 500, Nasdaq-100 Technology Sector and Russell 2000, with a stated principal amount of $1,000 per security and an aggregate principal amount of $2,514,000. The securities may auto-redeem on scheduled determination dates for preset early redemption payments that rise over time; if not redeemed, maturity outcomes depend on each underlier relative to its call and downside threshold levels, including full principal loss proportional to the worst performing underlier below its downside threshold. All payments are unsecured and fully guaranteed by Morgan Stanley and are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC offers Principal at Risk auto-callable securities tied to Meta Platforms, Inc. class A common stock with an aggregate principal amount of $400,000 (stated principal amount $1,000 per security). The notes pay a contingent coupon of 10.75% annually on observation dates when the underlier is at or above the coupon barrier and are automatically redeemed early if the underlier closes at or above the call threshold. At maturity, if the final level is below the downside threshold, principal is reduced pro rata by the underlier’s decline; holders could lose their entire investment. All payments are subject to MSFL and Morgan Stanley credit risk.