Morgan Stanley adds prospectus for Series I depositary shares

Accepted by SEC EDGAR 04/08/2026 - 11:38 AM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Morgan Stanley filed a prospectus addendum for depositary shares, each representing 1/1,000th of a share of Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series I. The addendum references a prospectus dated April 8, 2026, which supersedes the prospectus dated November 21, 2011. Morgan Stanley & Co. LLC may use this addendum in market-making offers; other affiliates may also participate.

Key Figures

Registration statement: No. 333-293641 Depositary share fraction: 1/1,000th of a share Prospectus date (current): April 8, 2026 +1 more

4 metrics

Registration statement No. 333-293641 Prospectus Addendum header

Depositary share fraction 1/1,000th of a share Each depositary share represents this fraction of Series I preferred

Prospectus date (current) April 8, 2026 Accompanying prospectus dated April 8, 2026

Prospectus date (superseded) November 21, 2011 Prospectus dated November 21, 2011 is superseded

Key Terms

Depositary shares, Fixed-to-Floating Rate, Non-Cumulative Preferred Stock, Prospectus Supplement, +1 more

5 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 financial

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

A fixed-to-floating rate is a type of loan or investment that starts with a fixed interest rate for a certain period, meaning the payments stay the same, then switches to a variable rate that can change over time based on market conditions. This matters because it offers the stability of fixed payments initially, but also the flexibility to benefit if interest rates drop later.

Non-Cumulative Preferred Stock financial

"NON-CUMULATIVE PREFERRED STOCK, SERIES I"

Preferred stock that pays a fixed dividend but does not require the company to make up missed payments later; if a dividend is skipped, shareholders lose that income permanently rather than accumulating a balance the company must repay. Investors care because this structure offers higher priority than common shares for payouts but less protection for dividend income, so it’s a trade-off between steady yield and the risk of permanent missed payments.

Prospectus Supplement regulatory

"read the accompanying prospectus supplement, which gives the specific terms"

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

Market-making transactions market

"use this prospectus addendum in connection with offers and sales of the depositary shares in market-making transactions"

FAQ

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

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

Answer: The addendum registers depositary shares, each representing 1/1,000th of a share of Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series I. The specific terms are described in the accompanying prospectus supplement referenced in the addendum.

Does the addendum replace any prior prospectus for Morgan Stanley (MS)?

Answer: Yes. The addendum states the prospectus dated April 8, 2026 supersedes the prospectus dated November 21, 2011, and references should be read to the April 8, 2026 prospectus.

Will Morgan Stanley sell these depositary shares directly or through affiliates (MS)?

Answer: The addendum states Morgan Stanley & Co. LLC will, and other affiliates may, use the prospectus addendum in connection with offers and sales, including market-making transactions.

Are the depositary shares insured or bank obligations per the Morgan Stanley (MS) addendum?

Answer: No. The addendum states the depositary shares are not deposits or savings accounts, are not FDIC-insured, and are not obligations of or guaranteed by any bank.

Where can I find the detailed terms for the Series I depositary shares (MS)?

Answer: The detailed terms appear in the accompanying prospectus supplement referenced by the addendum; readers should read the prospectus supplement together with the April 8, 2026 prospectus.

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 I

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 21, 2011, 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 21, 2011.

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