Morgan Stanley (MS) adds depositary shares for 4.875% Series L preferred

Rhea-AI Filing Summary

Morgan Stanley filed a prospectus addendum describing depositary shares, each representing 1/1,000th of a share of its 4.875% Non‑Cumulative Preferred Stock, Series L. The addendum updates and supersedes the prior prospectus language and is to be read with the prospectus dated April 8, 2026.

Key Figures

Fractional share unit: 1/1,000th of a share Coupon / dividend rate: 4.875% Prospectus date: April 8, 2026

3 metrics

Fractional share unit 1/1,000th of a share each depositary share represents this fraction of a Series L preferred share

Coupon / dividend rate 4.875% stated rate for the Non‑Cumulative Preferred Stock, Series L

Prospectus date April 8, 2026 date of the accompanying prospectus that the addendum references

Key Terms

depositary shares, non‑cumulative preferred stock, prospectus addendum

3 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.

non‑cumulative preferred stock financial

"4.875% NON-CUMULATIVE PREFERRED STOCK, SERIES L"

prospectus addendum regulatory

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

Offering Details

other

Offering

Offering Type other

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Accepted by SEC EDGAR 04/08/2026 - 11:43 AM Learn about SEC filing dates

FAQ

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

The addendum describes depositary shares, each representing 1/1,000th of a share of Morgan Stanley's 4.875% Non‑Cumulative Preferred Stock, Series L. It directs readers to the prospectus dated April 8, 2026 for full terms.

Does the prospectus addendum state how many Series L depositary shares are being offered by MS?

The addendum does not state an aggregate amount of shares. It focuses on the class and terms reference; readers must consult the accompanying prospectus supplement for specific offering quantities and details.

Will Morgan Stanley receive proceeds from sales of these depositary shares (MS)?

The addendum does not specify proceeds treatment. It notes that Morgan Stanley & Co. LLC may act in market‑making transactions; consult the prospectus supplement for any disclosure about proceeds or issuer receipts.

Are Morgan Stanley Series L depositary shares FDIC insured?

No. The addendum explicitly states the depositary shares are not deposits, are not insured by the FDIC, and are not obligations or guaranteed by a bank. They are equity securities tied to preferred stock.

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 

4.875% NON-CUMULATIVE PREFERRED STOCK, SERIES L

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 November 16, 2017, 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 November 16, 2017.

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