MORGAN STANLEY SEC Filings

Morgan Stanley Finance LLC is offering structured Principal at Risk securities. The notes have a stated principal amount of $1,000 per security with an aggregate issue of $3,710,000, tied to the worst performing of the Nasdaq-100 and S&P 500 indices. The securities mature on July 28, 2027 and pay no interest.

At maturity investors may receive up to a $1,165 payout per security if the worst performing underlier gains, a capped positive return if the worst performing underlier declines but stays above a 15% buffer, or suffer losses beyond the buffer down to a minimum payment of 15% of principal. All payments are subject to Morgan Stanley's credit risk.

Morgan Stanley Finance LLC priced $337,000 of Dual Directional Buffered PLUS securities due June 28, 2028, linked to the iShares MSCI South Korea ETF (EWY). Each security has a $1,000 stated principal amount and was issued at $1,000 with an estimated value of $935.10 on the pricing date. The payment at maturity depends on the closing level of the underlier on the observation date (June 23, 2028): upside is leveraged at 150% up to a $1,950 cap; a 20% buffer applies to limited declines, and the minimum payment at maturity is 20% of principal. All payments are subject to the issuer and guarantor credit risk of Morgan Stanley.

Morgan Stanley Finance LLC is offering Contingent Income Memory Securities due June 27, 2030, fully and unconditionally guaranteed by Morgan Stanley. The securities have a stated principal amount of $1,000 per security and aggregate principal amount of $1,646,000. They pay a contingent coupon of 10.10% per annum 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; unpaid coupons may only be paid later if all underliers meet the coupon barrier on a subsequent observation date. At maturity investors receive principal if each underlier is at or above its 70% downside threshold; otherwise payment equals the stated principal multiplied by the performance factor of the worst performing underlier, which can result in a substantial loss or a zero payment. The securities are linked to the EURO STOXX 50®, Nasdaq-100® Technology Sector and Russell 2000® indices, are unsecured obligations of MSFL and are subject to Morgan Stanley credit risk and model-based estimated value considerations.

Morgan Stanley Finance LLC priced a series of Dual Directional Buffered PLUS linked to Blackstone Inc. common stock. The securities have a stated principal amount of $1,000 per security, an original issue price of $1,000, an estimated value on the pricing date of $985.20, an initial level of $120.07 and mature on June 28, 2028.

Payments at maturity depend on the closing level of Blackstone on the observation date: upside returns equal 150% of appreciation subject to a $1,628.50 cap; if the final level falls but stays at or above an 80% buffer (buffer level $96.056) investors receive a capped positive return; if below the buffer investors lose principal beyond the 20% buffer (minimum payment 20% of principal). All payments are subject to MSFL/Morgan Stanley credit risk and tax treatment is uncertain.

Morgan Stanley Finance LLC is offering Buffered PLUS principal-at-risk securities linked to the worst performing of the Nasdaq-100, Russell 2000 and S&P 500. The securities have a stated principal of $1,000 per security, a 20% buffer and a 108.60% leverage factor on upside. At maturity the payout depends on the worst performing underlier on the observation date: full participation in upside with leverage if that underlier finishes above its initial level; return of principal if performance is between the buffer and initial level; and losses beyond the buffer if the worst underlier finishes below its buffer, subject to a 20% minimum payment. All payments are unsecured obligations of MSFL and are fully and unconditionally guaranteed by Morgan Stanley; market and credit risk, valuation costs and tax treatment uncertainties are disclosed.

Morgan Stanley Finance LLC offers Principal-at-Risk contingent income auto-callable securities fully and unconditionally guaranteed by Morgan Stanley. The offering consists of $2,134,000 aggregate principal at $1,000 per security with an issue price $1,000 and an estimated value $980.70 on the pricing date. The notes pay a contingent coupon at an annual rate of 10.25% on observation dates when the underlier, Exxon Mobil Corporation common stock, is at or above the coupon barrier level ($97.811, 70% of the initial level). Automatic early redemption can occur on specified redemption determination dates if the underlier is at or above the call threshold ($139.73). If not redeemed, maturity payments return principal only if the final level is at or above the downside threshold ($97.811); otherwise holders suffer losses equal to the percentage decline in the underlier and could lose their entire investment. All payments are subject to issuer credit risk. Commission and structuring fees reduce proceeds to the issuer to $981.50 per security.

Morgan Stanley Finance LLC offers structured, principal-at-risk notes due July 1, 2031 linked to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index. Each security has a $1,000 stated principal amount, 325% participation in upside, a 4.0% per annum decrement to the underlier, and an automatic early redemption feature on the first determination date of June 30, 2027.

The securities pay no interest, may be automatically redeemed for an $1,252.50 early redemption payment, and at maturity can return principal plus upside, return only principal, or suffer loss pro rata to the underlier (potentially to zero) if the final level is below the 50% downside threshold. Estimated value on pricing date was approximately $942.80 per security; all payments are subject to issuer and guarantor credit risk.

Morgan Stanley Finance LLC offers Structured Investments — Step-Down Jump Securities with an auto-callable feature — due July 6, 2029. Each security has a stated principal amount of $1,000 and an original issue price of $1,000. The securities are unsecured obligations of MSFL, fully and unconditionally guaranteed by Morgan Stanley. They are automatically redeemable on specified determination dates if the closing level of the underlying basket meets or exceeds call thresholds; early redemption payments correspond to an approximate return of 12.90% per annum. If not redeemed, maturity payoffs depend on the final level versus the upside threshold (90%) and downside threshold (70%): the maximum stated payment at maturity shown is $1,387.00, while poor performance can result in substantial principal loss, possibly to zero. All payments are subject to Morgan Stanley credit risk.

Morgan Stanley Finance LLC priced market-linked, auto-callable principal-at-risk securities linked to the common stock of Super Micro Computer, Inc. with a face amount of $1,000 per security and a maturity date of July 8, 2027. The contingent coupon rate will be set on the pricing date and will be at least 36.50% per annum. The issuer estimates the securities' value on the pricing date at $959.10 per security, or within $25.00 of that estimate. Payments depend on monthly calculation-day closing prices versus threshold levels (coupon threshold = 50% of the starting price; downside threshold = 50% of the starting price), the securities may be automatically called beginning after a six-month non-call period, and holders are exposed to credit risk of Morgan Stanley and to a potential loss of more than 50% of principal if the ending price is below the downside threshold.