Morgan Stanley adds depositary shares for Series K preferred

Accepted by SEC EDGAR 04/08/2026 - 11:39 AM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Morgan Stanley filed a prospectus addendum dated April 8, 2026 describing depositary shares each representing 1/1,000th of a share of Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series K. The addendum directs readers to the accompanying prospectus dated April 8, 2026, which supersedes the prospectus dated February 16, 2016.

Key Figures

Registration Number: 333-293641 Depositary share ratio: 1/1,000th of a share Prospectus date: April 8, 2026 +1 more

4 metrics

Registration Number 333-293641 Prospectus addendum cover

Depositary share ratio 1/1,000th of a share each depositary share represents 1/1,000th of one Series K preferred share

Prospectus date April 8, 2026 accompanying prospectus dated April 8, 2026

Superseded prospectus date February 16, 2016 prior prospectus superseded by April 8, 2026 prospectus

Key Terms

depositary shares, Fixed-to-Floating Rate Non-Cumulative Preferred Stock, prospectus addendum, market-making transactions

4 terms

depositary shares financial

"DEPOSITARY SHARES EACH REPRESENTING 1/1,000TH OF A SHARE"

Depositary shares are tradable certificates that represent a fractional piece of a larger security held by a third-party bank, like owning a slice of a single big pie instead of the whole pie. They let companies issue and investors buy smaller, more affordable portions of preferred stock or other instruments; holders usually receive proportional dividends and market pricing similar to ordinary shares, but may have limited voting rights and different liquidity or tax implications, which can affect income and resale value.

Fixed-to-Floating Rate Non-Cumulative Preferred Stock financial

"FIXED-TO-FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES K"

A fixed-to-floating rate non-cumulative preferred stock is a type of preferred share that pays a set dividend for an initial period, then switches to a variable dividend tied to market interest rates; if the issuer skips a dividend after the switch or during either period, unpaid amounts are not owed or accumulated. Investors care because it combines early income predictability with later interest-rate sensitivity, and carries priority over common shares but greater risk of lost income than cumulative issues.

prospectus addendum regulatory

"Prospectus Addendum to the Prospectus dated April 8, 2026"

market-making transactions market

"will, and other affiliates of Morgan Stanley may, use this prospectus addendum in connection with offers and sales ... in market-making transactions"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What securities does Morgan Stanley (MS) describe in this prospectus addendum?

It describes depositary shares representing 1/1,000th of a Series K preferred share. The addendum covers Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series K and states depositary shares each represent 1/1,000th of one preferred share.

Are the depositary shares described in the MS addendum FDIC insured?

No, the depositary shares are not FDIC insured. The addendum explicitly states the depositary shares are not deposits or savings accounts and are not insured by the Federal Deposit Insurance Corporation.

Which prospectus should investors read for the specific terms of the depositary shares?

Read the prospectus supplement together with the prospectus dated April 8, 2026. The addendum instructs readers to use the accompanying prospectus dated April 8, 2026, which supersedes the February 16, 2016 prospectus.

Who may sell the depositary shares under the prospectus addendum?

Morgan Stanley & Co. LLC and affiliates may use the addendum in market-making transactions. The addendum states Morgan Stanley & Co. LLC will, and other Morgan Stanley affiliates may, use this prospectus addendum for offers and sales.

Does the addendum change the legal status or guarantees of the depositary shares?

No government guarantee is provided for these depositary shares. The addendum reiterates they are not obligations of, or guaranteed by, a bank and are not insured by any governmental agency.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Filed Pursuant to Rule 424(b)(3)
Registration Statement No. 333-293641

Prospectus Addendum to

the Prospectus dated April 8, 2026

DEPOSITARY SHARES
EACH REPRESENTING 1/1,000^TH OF A SHARE OF

FIXED-TO-FLOATING RATE NON-CUMULATIVE PREFERRED STOCK,

SERIES K

You should read the accompanying prospectus supplement, which gives the specific terms of the offered depositary shares, together with the accompanying prospectus dated April 8, 2026 of Morgan Stanley. When you read the prospectus supplement with the specific terms of the offered depositary shares, please note that all references in the prospectus supplement to the prospectus dated February 16, 2016, or to any sections of that document, should refer instead to the accompanying prospectus dated April 8, 2026, or to the corresponding section of the accompanying prospectus.

The accompanying prospectus dated April 8, 2026 supersedes the prospectus dated February 16, 2016.

Morgan Stanley & Co. LLC will, and other affiliates of Morgan Stanley may, use this prospectus addendum in connection with offers and sales of the depositary shares in market-making transactions.

The depositary shares are not deposits or savings accounts and are not insured by the Federal Deposit Insurance Corporation or any other governmental agency or instrumentality, nor are they obligations of, or guaranteed by, a bank.

MORGAN STANLEY

April 8, 2026