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 is offering principal-at-risk, auto-callable structured notes linked to the worst performing of the Dow Jones Industrial Average, Nasdaq-100 and S&P 500. Each note has a $1,000 stated principal amount, an estimated value on the pricing date of approximately $927.60, and a potential automatic early redemption on May 7, 2027 for an early redemption payment of $1,128.50 if each underlier meets call thresholds on the first determination date.
Notes mature on May 5, 2031. If not auto‑redeemed, maturity payouts depend on the worst performing underlier: full principal plus an upside payment if all final levels exceed their initials; full principal if worst performance stays above a 70% downside threshold; or a reduced payment proportional to the worst underlier (possible total loss).
Morgan Stanley Finance LLC offers contingent-income, memory buffered auto-callable notes linked to Alphabet Inc. Class A stock with $1,000 stated principal and a 17.28% contingent annual coupon. The notes mature on April 28, 2027 and are automatically redeemed early if the underlier meets the call threshold on scheduled determination dates.
Payments depend on observation-date closings: a 15% buffer and a downside factor of 1.1765 apply at maturity, so losses occur for declines beyond the buffer. All payments are subject to MSFL/Morgan Stanley credit risk; estimated value at pricing was approximately $983.50 per security.
Morgan Stanley Finance LLC is offering structured, principal-at-risk securities linked to the worst performing of the Dow Jones Industrial Average, Nasdaq-100 and S&P 500, with a $1,000 stated principal amount per security and an original issue price of $1,000. The securities may be automatically redeemed on the first determination date of May 4, 2027 for an early redemption payment of $1,129. If not redeemed, maturity is May 3, 2030 with final payoff tied to the worst-performing underlier: upside participation of at least 150% of the worst underlier’s gain if all underliers finish above initial levels, full principal if all underliers finish at or above 70% of initial levels, and a pro rata principal loss equal to the worst underlier’s decline if any underlier finishes below 70%. Estimated value on the pricing date was approximately $931.60 per security. All payments are unsecured and subject to Morgan Stanley’s credit risk; these securities do not pay interest and investors may lose up to their entire investment.
Morgan Stanley Finance LLC offers structured, market-linked notes due April 15, 2031, fully guaranteed by Morgan Stanley. Each note has a stated principal amount of $1,000 per note, is linked to the EURO STOXX 50® Index, and provides an upside payment equal to the stated principal amount × 118.50% × underlier percent change if the final level exceeds the initial level. The notes pay no interest, are not listed, and have an estimated value on the pricing date of approximately $967.80 per note. Payments are subject to the issuer’s and guarantor’s credit risk; the notes are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley.
Morgan Stanley Finance LLC is offering market-linked notes due April 14, 2031 that are fully and unconditionally guaranteed by Morgan Stanley and pay no interest. The notes have a stated principal amount of $1,000 per note and provide an upside payment at maturity equal to the stated principal amount multiplied by a participation rate of 126.50% times the underlier percent change of the S&P 500® Futures Excess Return Index. The pricing date and strike date are April 8, 2026, the original issue date is April 13, 2026, and the observation date is April 8, 2031. Morgan Stanley estimates the value on the pricing date at approximately $967.90 per note. Payments at maturity depend solely on the closing level of the underlier on the observation date, and all payments are subject to the issuer’s credit risk.
Morgan Stanley Finance LLC offers contingent‑income, principal‑at‑risk notes due March 15, 2029, guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and a contingent coupon at an annual rate of 8.00%, payable only if both underliers meet coupon barriers on observation dates. The notes are auto‑callable on scheduled redemption determination dates and repay principal at maturity only if the final level of each underlier is at or above its buffer level (80% of initial); otherwise holders suffer losses proportional to the decline of the worst performing underlier, subject to a 20% minimum payment. The securities reference the XME and GDX ETFs, have an estimated value on the pricing date of approximately $942.40 per security, and are unsecured obligations of MSFL, with payments subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC is offering $3,500,000 of Capped Buffer GEARS due October 6, 2027, fully guaranteed by Morgan Stanley. Each $10 Security provides 2.0 Upside Gearing on a weighted basket of seven alternative-asset managers up to a Maximum Gain of 33% (maximum payment $13.30). The Securities include a 20% Buffer: if the Final Basket Level is at or above 80 (of initial 100) you receive $10 at maturity; below 80 you lose 1% of principal for each 1% decline beyond the Buffer, up to an 80% principal loss. Issue Price is $10.00 (estimated Trade Date value $9.596). Minimum purchase: 100 Securities. Payments and any recovery are subject to Morgan Stanley credit risk; secondary market liquidity is limited and MS & Co. may cease making a market.
Morgan Stanley Finance LLC is issuing buffered participation securities due October 14, 2027, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount, a 100% participation rate, a 20% buffer (buffer level 80) and a maximum payment at maturity of $1,206.50. The securities pay no interest; at maturity investors receive upside up to the maximum, full principal if underlier decline is within the buffer, or a pro rata principal loss beyond the buffer, subject to a 20% minimum payment. All payments remain subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC is offering buffered jump, auto-callable principal-at-risk securities with a stated principal amount of $1,000 per security and an issue price of $1,000. The estimated value on the pricing date is approximately $967.40. The securities pay no interest and are fully guaranteed by Morgan Stanley. They use a four-stock basket (APO, BX, ARES, KKR) weighted equally. Key economics: participation rate 150%, buffer 15%, downside factor 1.1765, upside payment $483, and an automatic early redemption payment $1,241.50 if the basket meets the call threshold on April 19, 2027. Maturity is April 11, 2028. All payments are subject to the issuer’s credit risk.
Morgan Stanley Finance LLC priced a structured note offering — a Buffered PLUS with Downside Factor tied to the MSCI EAFE® Index that is fully guaranteed by Morgan Stanley. Each security has a $10 stated principal amount and a 150% leverage factor for upside, subject to a $13.47 maximum payment at maturity on April 12, 2028. A 10% buffer applies: if the final index level is below 90% of the initial level, investors lose 1.1111% of principal for each 1% decline beyond the buffer. Estimated value on the pricing date was approximately $9.812 per security. All payments are subject to issuer and guarantor credit risk.
Morgan Stanley Finance LLC is offering Buffered PLUS with Downside Factor securities linked to the S&P 500® Index with a stated principal amount of $10 per security. The securities mature on April 12, 2028, feature a 150% leverage factor on upside, a 10% buffer and a downside factor of 1.1111. The maximum payment at maturity is $12.705 per security. The estimated value on the pricing date was approximately $9.87 per security; purchases include issuance, structuring and hedging costs. All payments are unsecured obligations of MSFL and are fully guaranteed by Morgan Stanley.
Morgan Stanley Finance LLC is offering principal-at-risk, market-linked, auto-callable securities linked to the common stock of Blackstone Inc. with a face amount of $1,000 per security. The preliminary pricing supplement states an estimated value of approximately $961.80 per security (± $30.00). The securities pay contingent quarterly coupons (contingent coupon rate to be set on the pricing date and at least 18.15% per annum), may be automatically called beginning July 2026 if the underlying stock closes at or above the starting price on a calculation day, and expose holders to 1:1 downside of the underlying below a downside threshold equal to 60% of the starting price. All payments are subject to issuer credit risk and the securities do not provide regular interest, dividend rights or participation in upside of the underlying stock.
Morgan Stanley Finance LLC is offering variable‑income, auto‑callable notes due May 1, 2031 that pay either a 9.75% (higher) or 0.25% (lower) annual coupon depending on monthly observation dates and are linked to the worst performing stock among Broadcom, Meta, Micron, Palantir and Oracle. The notes have a $1,000 stated principal amount per note and an original issue price of $1,000; Morgan Stanley estimates the notes' value on the pricing date at approximately $933.90, within $55.00 of that estimate. Automatic early redemption is possible on specified determination dates beginning April 28, 2027 if each underlier meets the 90% call threshold. All payments are unsecured and subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC is offering structured, variable‑coupon, auto‑callable notes with a $1,000 stated principal amount per note. The notes pay either a 7.45% annual higher coupon or a 0.25% annual lower coupon each period, with a 7.20% conditional coupon payable only if future observation dates meet coupon barriers. The notes reference the worst performing of five stocks and are fully guaranteed by Morgan Stanley. The strike and pricing dates are April 28, 2026, original issue date April 30, 2026, and maturity May 1, 2031. All payments are subject to Morgan Stanley's credit risk and the notes will not be listed on an exchange.
Morgan Stanley Finance LLC is offering variable income auto-callable notes due May 1, 2031, fully and unconditionally guaranteed by Morgan Stanley. The notes pay a variable coupon that is either 9.50% or 0.25% per annum depending on each observation date’s closing levels versus coupon barrier levels, are linked to the worst performing of Netflix, Meta (Class A), Palantir (Class A) and Micron, and have an original issue price of $1,000 per note with an estimated value on the pricing date of approximately $938.90. The notes may be automatically redeemed beginning after the first redemption determination date of April 28, 2027 if each underlier meets its call threshold; if not redeemed they pay principal at maturity. All payments are subject to Morgan Stanley’s credit risk and the notes will not be listed on an exchange.
Morgan Stanley Finance LLC priced Principal-at-Risk, contingent income auto-callable securities linked to the worst performing of the Dow Jones Industrial, the Nasdaq-100 and the Russell 2000. Each security has a $1,000 stated principal amount and a $1,000 issue price. The notes pay a contingent coupon at an annual rate of 9.00% on each coupon payment date only if the closing level of each underlier is at or above its coupon barrier on the related observation date; otherwise no coupon is paid. Automatic early redemption can occur beginning on April 27, 2027 if all underliers meet call thresholds (95% of initial levels). If not redeemed, maturity is May 1, 2031, with principal returned only if every underlier is at or above its downside threshold (70% of initial levels); otherwise payment equals the stated principal multiplied by the performance factor of the worst performing underlier, which can result in a significant loss or zero recovery. The securities are unsecured obligations of MSFL, fully guaranteed by Morgan Stanley, and are subject to Morgan Stanley credit risk, limited secondary-market liquidity, and uncertain U.S. federal tax treatment.
The issuer, Morgan Stanley Finance LLC, is offering Market Linked Securities — contingent fixed return and contingent downside principal-at-risk securities linked to the lowest performing of the Nasdaq-100, Russell 2000 and S&P 500 indices maturing April 14, 2027. The aggregate face amount is $700,000 and the face amount per security is $1,000. The securities pay a contingent fixed return of 15.60% (equal to $156 per $1,000) if the lowest performing underlying’s ending level is greater than or equal to its threshold level (79% of its starting level); otherwise the maturity payment equals $1,000 plus the underlying return of the lowest performing underlying, exposing investors to more than a 21% loss and potentially a total loss. The estimated value on the pricing date is $985.20 per security. Pricing date is April 2, 2026, original issue date April 8, 2026, and calculation day is scheduled for April 9, 2027. The securities are fully guaranteed by Morgan Stanley, do not pay interest or dividends, and are subject to Morgan Stanley credit risk, liquidity constraints, hedging activity by affiliates, and uncertain U.S. federal tax treatment.
Morgan Stanley Finance LLC priced a structured, variable-income, auto-callable note due May 1, 2031 linked to the worst-performing stock among Netflix, Broadcom, Amazon and Alphabet. Each note has a stated principal amount of $1,000, a variable coupon of 0.25% (lower) or 8.75% (higher), and an estimated value on the pricing date of approximately $943.40 per note. The notes pay the higher coupon for an interest period only if each underlier is at or above its coupon barrier level on the related observation date, and they will be automatically redeemed early if all underliers meet their call threshold on a redemption determination date. Payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley, and all payments remain subject to the issuer’s credit risk.
Morgan Stanley Finance LLC (guaranteed by Morgan Stanley) is offering Structured Investments: Variable Income Auto-Callable Notes due May 1, 2031. Each note has a $1,000 original issue price and an estimated value of approximately $936.50 on the pricing date. The notes pay a variable coupon each period: a higher coupon of 11.00% per annum or a lower coupon of 0.25% per annum, determined on observation dates by whether each of four underliers meets its coupon barrier (75% of initial level). The notes are linked to the worst performing of Broadcom, Oracle, Palantir and Micron, carry an automatic early redemption feature beginning with a redemption determination date of April 28, 2027 if all underliers meet call thresholds (90% of initial level), and return the stated principal at maturity if not redeemed. All payments are unsecured and subject to Morgan Stanley’s credit risk.
Morgan Stanley Finance LLC is offering principal-at-risk, contingent coupon auto-callable notes due May 1, 2031, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 issue price and an estimated value on the pricing date of approximately $947.90. The notes pay a contingent coupon at an annual rate of 9.30% only when the closing level of each of the three underliers (Dow Jones Industrial Average, Nasdaq-100, Russell 2000) is at or above its coupon barrier on an observation date. The notes are automatically redeemed early if on a redemption determination date every underlier is at or above its call threshold (100% of initial level). At maturity, if the final level of any underlier is below its downside threshold (70% of initial level), principal is reduced pro rata based on the worst-performing underlier, and could be zero. All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC is offering principal‑at‑risk, market‑linked securities linked to the EURO STOXX 50® Index that are auto‑callable on annual calculation days and mature on May 3, 2029. Each security has a face amount of $1,000; the estimated value on the pricing date is $951.40 (±$45.00). If the index closes at or above the starting level on a calculation day, the securities will be called for preset call payments; if not called, the maturity payment equals $1,000×(ending level/starting level), exposing investors to a 1:1 downside. Pricing date is April 30, 2026 and original issue date is May 5, 2026. The securities do not pay interest, do not participate in index upside beyond call premiums, and are subject to Morgan Stanley credit and liquidity risks.
Morgan Stanley Finance LLC offers principal-at-risk, auto-callable securities due May 5, 2031 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 estimated value on the pricing date of approximately $921.70.
The securities may be automatically redeemed on scheduled determination dates beginning May 7, 2027 for fixed early redemption payments that imply returns of ~25.50% per annum; if not auto-redeemed, maturity payouts are $2,275.00 if the final level meets the call threshold, $1,000 if the final level is at or above the downside threshold (60% of the initial level), or a loss proportional to index decline below that downside threshold. The underlier is subject to a 4.0% per annum daily decrement and limited operating history.
Morgan Stanley Finance LLC priced a $1,050,000 aggregate issue of market-linked, principal-at-risk securities due April 14, 2027, fully and unconditionally guaranteed by Morgan Stanley. Each $1,000 face amount security offers a $50 contingent fixed return (5.00%) if the lowest-performing index is at or above a 59% threshold of its starting level on the April 9, 2027 calculation day. The estimated value on the pricing date was $964.40 per security.
Morgan Stanley Finance LLC priced contingent income auto-callable notes linked to the worst performing of the Dow Jones Industrial Average, Nasdaq-100 and Russell 2000. Each note has a $1,000 stated principal and an estimated value on the pricing date of approximately $951.10. The notes pay a contingent coupon of 8.60% per annum on scheduled coupon dates only if each underlier meets its coupon barrier (75% of initial level) on the related observation date. The notes are automatically redeemed early if all underliers meet their call threshold (90% of initial level) on a redemption determination date, and mature on May 1, 2031. If not automatically redeemed, principal repayment at maturity depends on the worst performing underlier relative to its downside threshold (70% of initial level), and investors may lose up to their entire principal. All payments are subject to Morgan Stanley Finance LLC credit risk and guaranteed by Morgan Stanley.
Morgan Stanley Finance LLC is offering structured, variable‑coupon auto‑callable notes due May 1, 2031, fully and unconditionally guaranteed by Morgan Stanley. Each note has a $1,000 stated principal amount and pays either a 0.25% or 8.00% annual coupon per interest period depending on observation‑date tests tied to three equity underliers (PLTR, UNH, ORCL). The notes are linked to the worst‑performing underlier, can be automatically redeemed early beginning with the redemption determination date on April 28, 2027, and have an estimated value on the pricing date of approximately $947.00 per note.
Morgan Stanley Finance LLC is offering Structured Investments Market-Linked Notes with an aggregate principal amount of $2,000,000, fully and unconditionally guaranteed by Morgan Stanley. The notes pay no interest, have a stated principal amount of $1,000 per note and a participation rate of 100% in the performance of the worst performing of the Russell 2000®, S&P 500® and Nasdaq-100 over the term. The maximum payment at maturity is $1,199 per note (119.90% of principal). The issue price is $1,000 per note and the estimated value on the pricing date is $984 per note. All payments are subject to issuer credit risk and the notes will not be listed on any exchange.
Morgan Stanley Finance LLC is offering Contingent Income Auto-Callable Notes due April 7, 2031, linked to the worst performing of NVIDIA, Tesla and Palantir common stock. The notes are issued at $1,000 per note with an aggregate principal amount of $723,000 and an estimated value on the pricing date of $946.90 per note.
The notes pay a contingent coupon at an annual rate of 8.30% only if, on each observation date, the closing level of each underlier is at or above its coupon barrier (about 75% of the initial level). The notes will be automatically redeemed early if, on a redemption determination date beginning April 2, 2027, the closing level of each underlier is at or above its call threshold (100% of initial level). All payments are unsecured and subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC is offering Structured Investments (principal-at-risk notes) fully guaranteed by Morgan Stanley with an aggregate principal amount of $1,063,000. The notes mature April 5, 2029, are callable on the first determination date (April 6, 2027) for an early redemption payment of $1,150 and carry a 210% participation rate on the worst performing of the S&P 500, Nasdaq-100 and Dow Jones Industrial Average. The securities include an 85% buffer level (15% buffer amount) and a minimum payment at maturity of 15% of principal. The estimated value on the pricing date was $981.50 per security; the issue price is $1,000 per security and all payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC issues contingent-income principal-at-risk notes totaling $1,315,000, fully and unconditionally guaranteed by Morgan Stanley. The notes have a $1,000 stated principal amount per security, an estimated value of $982.00 on pricing, and a 10.10% annual contingent coupon payable only if each index closes at or above its coupon barrier on each observation date. Payment at maturity returns the stated principal only if each underlier is at or above a 70% downside threshold of its initial level; otherwise the payment equals the stated principal multiplied by the worst-performing underlier's performance factor, potentially resulting in a significant loss of principal.
The securities link to the S&P 500 (SPX initial level 6,582.69), Nasdaq-100 Technology Sector (NDXT initial level 12,012.88) and Russell 2000 (RTY initial level 2,530.042), carry issuer credit risk, and are sold to fee-based advisory accounts at a public price of $1,000 (proceeds to issuer $995 per security after agent activity).
Morgan Stanley Finance LLC priced $500,000 aggregate of structured notes — Principal at Risk securities with a $1,000 stated principal amount per security, fully and unconditionally guaranteed by Morgan Stanley. The securities are linked to the worst performing of the S&P 500®, Nasdaq-100® and Russell 2000® indices.
The notes can auto‑call on specified determination dates beginning April 6, 2027, for rising fixed early redemption payments (up to $1,470.25). If not called, maturity payoffs depend on index outcomes: $1,513.00 if all indices meet call thresholds, $1,000 if all are above 70% of initial levels, or a loss equal to the percentage decline of the worst performing index (principal at risk).
Morgan Stanley Finance LLC prices Callable Contingent Income Securities linked to the worst performing of the Dow Jones Industrial, Nasdaq-100 Technology Sector and Russell 2000. The notes have a $1,000 stated principal amount, pay a contingent coupon of 11.15% per annum on each period only if all three underliers meet coupon barrier levels, are callable beginning April 7, 2027 based on a risk-neutral valuation model, and mature on January 7, 2031. If the final level of the worst performing underlier is below its 60% downside threshold, principal is reduced pro rata by that underlier’s performance and could be zero. All payments are subject to MS and MSFL credit risk.
Morgan Stanley Finance LLC priced a $400,000 aggregate offering of Principal at Risk Contingent Income Auto-Callable Securities due April 5, 2029, issued at $1,000 per security.
The notes pay a contingent coupon at an annual rate of 10.00% on observation dates when each underlier meets its coupon barrier (70% of initial). Automatic early redemption occurs if each underlier meets its call threshold (100% of initial) on a redemption determination date. At maturity, if any underlier is below its downside threshold (50% of initial), principal is reduced proportionally to the worst performing underlier; investors may lose up to their entire principal. The offering is unsecured obligations of MSFL and fully guaranteed by Morgan Stanley; all payments remain subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC issues Structured Investments: Contingent Income Buffered Auto-Callable Securities due April 5, 2029. The offering consists of $8,254,000 aggregate principal of $1,000 principal amount securities, fully and unconditionally guaranteed by Morgan Stanley. The notes pay a contingent coupon of 11.50% per annum on observation dates only if both underliers meet coupon barrier levels, feature automatic early redemption if both underliers meet call thresholds on a redemption determination date, and return principal at maturity only if each underlier is at or above an 80% buffer; otherwise investors lose 1% of principal for each 1% decline in the worst performing underlier beyond the 20% buffer, subject to a 20% minimum payment at maturity. All payments are subject to MSFL and Morgan Stanley credit risk.
Morgan Stanley Finance LLC (guaranteed by Morgan Stanley) is issuing principal-at-risk auto-callable notes linked to Palantir Technologies Inc. Class A stock. Each security has a stated principal amount of $1,000, an issue price of $1,000, an estimated value on the pricing date of $986.70 and matures on October 7, 2027.
The securities pay a contingent coupon at an annual rate of 22.05% on coupon payment dates only if the closing level of Palantir is at or above the coupon barrier ($81.653, 55% of the initial level) on the related observation date. The notes are automatically redeemed if the closing level on any redemption determination date is at or above the call threshold ($148.46, 100% of the initial level), beginning with the first redemption determination date of July 2, 2026. If not called, repayment at maturity depends on the final level: if final level is below the downside threshold ($81.653), holders lose 1% of principal for each 1% decline in the underlier and could receive nothing.
Morgan Stanley Finance LLC priced a $6,317,000 offering of Dual Directional Buffered Participation Securities due May 6, 2027, linked to the S&P 500® Index and fully and unconditionally guaranteed by Morgan Stanley.
The securities have a $1,000 stated principal amount, a pricing/strike date of April 2, 2026, an observation date of May 3, 2027, and an estimated value on the pricing date of $989.40 per security. Returns depend on the index closing level on the observation date: investors can receive upside participation up to a $1,075 maximum payment (107.50% of principal), a 20% buffer (buffer level = 80% of initial level), and a minimum payment at maturity of 20% of principal. All payments are subject to Morgan Stanley's credit risk.
Morgan Stanley Finance LLC is offering structured, principal-at-risk auto-callable securities fully guaranteed by Morgan Stanley with an aggregate principal amount of $3,261,000. The securities were priced at $1,000 each (estimated value $985.50) with an original issue date of April 8, 2026 and maturity on April 5, 2029. The notes reference the Dow Jones Industrial Average, the Nasdaq-100 and the Russell 2000 and use the worst-performing underlier to determine payoffs. Automatic early redemption begins on the first determination date of April 9, 2027 with scheduled early redemption payments rising to $1,495 per security; the stated payment at final maturity if all call thresholds are met is $1,540. Call threshold levels equal initial levels and downside thresholds equal 70% of initial levels; if the worst underlier finishes below its downside threshold, investors incur loss proportional to that decline. All payments are subject to Morgan Stanley credit risk and the securities do not pay interest.
Morgan Stanley Finance LLC offers Principal-at-Risk Contingent Income Memory Securities linked to the worst performing of the S&P 500®, Nasdaq-100® Technology Sector and Russell 2000®. The offering totals $1,745,000 in aggregate principal at $1,000 per security with an original issue date of April 8, 2026.
The notes pay a contingent coupon at an annual rate of 9.00% on scheduled coupon dates only if each underlier meets its coupon barrier (≈80% of initial level) on the related observation date; unpaid coupons may be paid later only if observation-date conditions are met. At maturity on April 7, 2031, if every underlier is at or above its downside threshold (≈70% of initial level) investors receive stated principal; otherwise the payment equals the stated principal multiplied by the performance factor of the worst performing underlier, exposing investors to full principal loss. All payments are subject to MSFL and Morgan Stanley credit risk.
Morgan Stanley Finance LLC priced $500,000 aggregate principal of callable, contingent-coupon Principal at Risk securities, fully and unconditionally guaranteed by Morgan Stanley. The notes have a $1,000 stated principal amount, an annual contingent coupon of 11.00%, a 20% buffer and a 20% minimum payment at maturity. Coupons pay only if each underlier is at or above its coupon barrier on each observation date; losses at maturity are based on the worst-performing underlier beyond the 20% buffer. The securities are callable beginning July 7, 2026 if a risk-neutral valuation model indicates redemption is economically rational. All payments are subject to Morgan Stanley’s credit risk; estimated value on the pricing date was $985.00 per security.
Morgan Stanley Finance LLC priced contingent income memory auto-callable securities linked to Alphabet Inc. Class A common stock. The securities have a $1,000 stated principal amount and aggregate principal of $285,000, issue price $1,000, and an estimated value of $971.70 on the pricing date. They pay a contingent coupon at an annual rate of 11.00% only if the underlier meets the coupon barrier on observation dates and feature automatic early redemption if the underlier meets the call threshold of $295.77 on any redemption determination date. If not auto‑redeemed, maturity payment depends on the final closing level versus the downside threshold of $207.039 (70% of initial level), exposing investors to full downside (1% loss per 1% decline) and potential loss of principal. All payments are subject to issuer/guarantor credit risk and withholding rules described herein.
Morgan Stanley Finance LLC priced a principal-at-risk structured note offering fully guaranteed by Morgan Stanley. The offering consists of Buffered Jump Securities due April 5, 2029 linked to the worst performing of the Nasdaq-100 Technology Sector, the Russell 2000 and the S&P 500. Each security has a stated principal amount of $1,000, an original issue price of $1,000 and an estimated value on the pricing date of $976.20. The notes feature an automatic early redemption test beginning on April 9, 2027 with four possible early redemption payments and a maturity payoff that offers a fixed positive return if all underliers meet call thresholds, principal protection within a 10% buffer, or downside exposure equal to 1% per 1% decline beyond the buffer, subject to a 10% minimum payment at maturity.
Morgan Stanley Finance LLC priced a structured, principal-at-risk note offering guaranteed by Morgan Stanley with an aggregate principal amount of $842,000 and a stated principal amount of $1,000 per security. The securities are auto-callable and linked to the worst performing of the Nasdaq-100, Russell 2000 and S&P 500.
Issue price was $1,000 per security with an estimated value on the pricing date of $959.70. The securities may pay fixed early redemption amounts on specified determination dates and otherwise expose investors to full downside below the downside threshold of 70% of each initial level.
Morgan Stanley Finance LLC priced a $1,611,000 issuance of market-linked principal-at-risk securities, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 face amount; the offering pays a contingent fixed return of 6.00% ($60) if the lowest-performing index on the calculation day is at or above its threshold.
The estimated value on the pricing date was $964.90 per security. If the lowest-performing underlying closes below its threshold (64% of its starting level) on the calculation day, holders will suffer losses greater than 36%, possibly losing the entire principal. Pricing date: April 2, 2026; calculation day: April 9, 2027; maturity: April 14, 2027.
Morgan Stanley Finance LLC priced $1,000,000 of Principal at Risk securities due May 6, 2027, fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and pays no interest. Payment at maturity depends on the worst performing of the S&P 500, Nasdaq-100 and Russell 2000, with a fixed $126.50 upside payment if the worst performing underlier finishes at or above its 70% downside threshold; otherwise holders lose in proportion to the decline of the worst performing underlier.
Morgan Stanley Finance LLC prices Principal-at-Risk, auto-callable structured notes linked to the worst-performing of the DJIA Futures Excess Return Index and the S&P 500 Futures Excess Return Index. The securities have a $1,000 stated principal amount, an aggregate principal amount of $365,000 and a 310% participation rate for upside at maturity. An automatic early redemption test occurs on April 6, 2027 (first determination date) with an early redemption payment of $1,200 per security. If not auto‑redeemed, maturity is April 5, 2030; at maturity investors may receive principal plus an upside payment, only principal, or a reduced payment tied to the worst performing underlier (losses of 1% per 1% decline below the downside threshold). 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 Auto-Callable Principal-at-Risk securities linked to the worst performing of the SPDR® Gold Trust (GLD) and the iShares® Silver Trust (SLV). Each security has a $1,000 stated principal amount and an original issue price of $1,000. The securities pay no regular interest and carry automatic early redemption if both underliers meet their call threshold on a determination date, producing fixed early redemption payments that escalate across eight scheduled dates. If not called, maturity payoffs range from a fixed positive payment of $1,915 (if both underliers meet call thresholds) to repayment of principal or a loss tied to the worst performing underlier, with a downside threshold at 70% of initial levels. Estimated value on the pricing date is approximately $952.40 per security; all payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC offers Principal at Risk auto-callable securities tied to the Class A common stock of Meta Platforms, Inc. with an aggregate principal amount of $1,313,000 (1,313 securities at $1,000 each). The notes pay a contingent coupon at an annual rate of 12.90% on scheduled coupon dates only if the underlier’s closing level meets the coupon barrier level ($344.676, 60% of the initial level). The notes are subject to automatic early redemption if the underlier’s closing level meets or exceeds the call threshold ($574.46, 100% of the initial level) on specified redemption determination dates; early redemption shortens the term and pays the stated principal plus any payable contingent coupons. If not called and the final level is below the downside threshold ($344.676), principal at maturity is reduced pro rata by the performance factor (final level/initial level), and could be significantly less than the stated principal or zero. All payments are unsecured and subject to the credit risk of Morgan Stanley Finance LLC, fully guaranteed by Morgan Stanley. Key dates: strike and pricing date April 2, 2026, original issue date April 7, 2026, final observation date October 4, 2027, maturity date October 7, 2027. The estimated value on the pricing date was $977.20 per security; issue price is $1,000 with $15 dealer commission per security.
Morgan Stanley Finance LLC is offering autocallable principal-at-risk notes linked to a weighted basket of global indices and fully guaranteed by Morgan Stanley. The Trade Date is April 7, 2026, Settlement April 10, 2026, and Maturity April 12, 2029. Each Security has an Issue Price of $10.00 and an estimated Trade Date value of $9.552.
The notes are automatically callable on annual Observation Dates beginning April 14, 2027 if the Basket Closing Level is at or above the Initial Basket Level; hypothetical Call Return Rates are 11.60% to 12.60% per annum (actual rate set on the Trade Date). If not called, repayment at maturity equals $10 plus the Basket Return, so investors bear full downside of the Basket and may lose some or all principal; all payments are subject to Morgan Stanley credit risk.
Morgan Stanley Finance LLC priced buffered, auto-callable principal-at-risk notes linked to the worst performing of the Dow Jones Industrial Average and the S&P 500® Index. Each security has a stated principal amount of $1,000, a participation rate of 188%, a 20% buffer and a minimum payment at maturity of 20%. The securities pay no interest, can be automatically redeemed on the first determination date for an early redemption payment of $1,100, and mature on April 12, 2029. Investors bear issuer credit risk and full downside exposure to the worst performing underlier beyond the buffer amount; the estimated value on the pricing date was approximately $975.90 per security.
Morgan Stanley Finance LLC offers structured, principal-at-risk notes due April 13, 2029 linked to the worst performing of the NDXT (Nasdaq-100 Technology), RTY (Russell 2000) and SPX (S&P 500) indices with a stated principal amount of $1,000 per security.
The securities pay a contingent coupon at an annual rate of 7.50% on each coupon payment date only if each underlier is at or above its coupon barrier (80% of initial) on the observation date, feature automatic early redemption if all underliers meet a 90% call threshold on a redemption determination date, and provide a buffer of 20% with a minimum payment at maturity of 20 of principal; estimated value on the pricing date was approximately $959.60.
Morgan Stanley Finance LLC priced a contingent‑income, principal‑at‑risk auto‑callable note linked to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index with a $1,000 stated principal per security and an aggregate offering of $750,000. The notes pay a 15.30% annual contingent coupon on scheduled observation dates if the underlier is at or above the coupon barrier (70% of the initial level). The securities are automatically redeemed early if the underlier is at or above the call threshold (the initial level) on any redemption determination date; at maturity investors receive principal only if the final level is at or above the downside threshold (60% of initial), otherwise payment is the stated principal multiplied by the performance factor and could be significantly less or zero. All payments are subject to MSFL credit risk and the estimated value on the pricing date was $949.70 per security.