Morgan Stanley offers depositary shares for Series Q preferred

Accepted by SEC EDGAR 04/08/2026 - 11:55 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 its 6.625% Non-Cumulative Preferred Stock, Series Q. The addendum supersedes the prior prospectus dated April 12, 2024 and refers readers to the accompanying prospectus dated April 8, 2026 for full terms. The addendum notes that Morgan Stanley & Co. LLC and affiliates may sell the depositary shares in market-making transactions.

Key Figures

Fractional interest per depositary share: 1/1,000th of a share Dividend rate: 6.625% Prospectus date: April 8, 2026

3 metrics

Fractional interest per depositary share 1/1,000th of a share each depositary share represents this fraction of Series Q preferred

Dividend rate 6.625% rate on Non-Cumulative Preferred Stock, Series Q

Prospectus date April 8, 2026 accompanying prospectus that supersedes April 12, 2024 cover

Key Terms

depositary shares, 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.

non-cumulative preferred stock financial

"6.625% NON-CUMULATIVE PREFERRED STOCK, SERIES Q"

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 addendum regulatory

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

market-making transactions financial

"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"

Offering Details

other

Offering

Offering Type other

Securities Offered depositary shares representing Series Q preferred stock

FAQ

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

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

Answer: The addendum offers depositary shares, each representing 1/1,000th of a share of Morgan Stanley's 6.625% Non-Cumulative Preferred Stock, Series Q. The prospectus supplement contains the specific terms for these depositary shares.

Does the prospectus addendum replace an earlier prospectus for Morgan Stanley (MS)?

Answer: Yes. The addendum states the accompanying prospectus dated April 8, 2026 supersedes the prospectus dated April 12, 2024, and references to the prior prospectus should refer to the April 8, 2026 document.

Will Morgan Stanley receive proceeds from sales reported in this addendum?

Answer: The addendum does not state proceeds treatment. It notes that Morgan Stanley & Co. LLC and affiliates may use the addendum for market-making transactions, but does not specify whether proceeds go to the issuer or selling parties.

Are the depositary shares bank deposits or FDIC insured?

Answer: No. The addendum explicitly states the depositary shares are not deposits or savings accounts and are not insured by the FDIC or any government agency, nor are they obligations or guarantees of a bank.

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

6.625% NON-CUMULATIVE PREFERRED STOCK, SERIES Q

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 April 12, 2024, 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 April 12, 2024.

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