MORGAN STANLEY SEC Filings

Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable structured notes linked to the S&P® 500 Futures 40% Intraday 4% Decrement VT Index with a $1,000 stated principal per security and an original issue price of $1,000. The securities can be automatically redeemed on the first determination date for an early redemption payment of $1,252.50 if the underlier is at or above a call threshold equal to 90% of the initial level. If not called, maturity payoff depends on the final level versus the initial level and a participation rate of 325%; a final level below a downside threshold equal to 50% of the initial level exposes investors to losses proportional to the underlier decline. Key dates include strike and pricing on June 26, 2026, original issue date and maturity on July 1, 2026 and July 1, 2031 respectively, and the first determination date on June 30, 2027. The estimated value on the pricing date was approximately $937.10 per security; all payments are subject to issuer and guarantor credit risk.

Morgan Stanley Finance LLC priced a preliminary offering of Trigger PLUS notes due July 15, 2031 linked to the S&P 500® Futures Excess Return Index. Each note has a $1,000 stated principal amount, a 205% leverage factor on upside performance and a downside threshold set at 70% of the initial level. At maturity the payment depends solely on the index closing level on the observation date: (1) above the initial level — principal plus 205% of the index appreciation; (2) between the downside threshold and the initial level — principal; (3) below the downside threshold — principal multiplied by the index performance factor, with no minimum payment and possible total loss of principal. The document discloses an estimated value on the pricing date of approximately $944.70 per security and lists the pricing/strike date as July 10, 2026. All payments are subject to the issuer’s and guarantor’s credit risk.

Morgan Stanley Finance LLC offers Principal at Risk notes due July 31, 2031 that are fully guaranteed by Morgan Stanley and issued at a $1,000 stated principal amount per security. The securities pay a contingent coupon of 10.00% per annum on observation dates when the underlier meets the coupon barrier, feature an automatic early redemption tied to a 100% call threshold, a 15% buffer and a 15% minimum payment at maturity. The underlier is the S&P® 500 Futures 40% Intraday 4% Decrement VT Index, which includes a 4.0% per annum daily decrement and limited operating history (established August 30, 2024). The pricing-date estimated value is approximately $920.80 per security. All payments are subject to the issuer’s and guarantor’s credit risk; investors risk loss of principal if the final level is below the buffer.

The document is a preliminary pricing supplement for Morgan Stanley Finance LLC notes: structured, principal-at-risk, auto-callable securities due July 13, 2029, fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and an estimated pricing-date value of approximately $966.60. The notes are linked to the worst performing of the Dow Jones Industrial Average, Nasdaq-100 and Russell 2000. An automatic early redemption can occur on the first determination date (July 14, 2027) for an early redemption payment of $1,233.50 if each underlier meets its call threshold. If not redeemed, maturity payoffs depend on worst-underlier performance with a 175% participation rate for upside, a downside threshold of 70% of initial levels, and potential loss of principal down to zero.

Morgan Stanley Finance LLC offers contingent income, auto-callable securities linked to the American Depositary Shares of Novo Nordisk A/S with a stated principal amount of $1,000 per security. The securities pay a contingent coupon at an annual rate of 12.25% on each coupon payment date only if the closing level of the underlier meets or exceeds a coupon barrier set at 61% of the initial level. The notes may be automatically redeemed early if the closing level of the underlier is greater than or equal to the call threshold (set at 100% of the initial level) on any redemption determination date, in which case holders receive principal plus the contingent coupon for that period. If the securities are not called and the final level is below the downside threshold (also 61% of the initial level), the payment at maturity will equal the stated principal multiplied by the performance factor (final level / initial level), exposing investors to losses that can be significant or total. All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley and are subject to Morgan Stanley's credit risk.

Morgan Stanley Finance LLC is offering callable Principal-at-Risk securities with a $1,000 stated principal amount and a contingent coupon of 11.40% per annum. The securities reference the Nasdaq-100 Technology Sector Index, Russell 2000 and the State Street Utilities Select Sector SPDR ETF, are payable at maturity on July 7, 2028, and use the worst-performing underlier to determine payoff.

The securities pay a contingent coupon for each interest period only if each underlier's closing level is at or above its coupon barrier (70% of initial level) on the observation date; otherwise no coupon is paid. If not called, investors receive principal at maturity only if each underlier's final level is at or above its buffer level (80% of initial level); otherwise principal is reduced pro rata with a 20% buffer and a minimum payment of 20% of principal. An early redemption feature permits MSFL to call the securities beginning on October 6, 2026 based on the output of a risk neutral valuation model. All payments are subject to the credit risk of MSFL and Morgan Stanley.

Morgan Stanley Finance LLC is offering callable Contingent Income Securities due July 11, 2029 that are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and an issue price of $1,000. The preliminary pricing supplement states an estimated value on the pricing date of approximately $982.60 per security.

The securities pay a contingent coupon at an annual rate of 12.30% only if, on each observation date, the closing level of the Dow Jones Industrial, Nasdaq-100 and Russell 2000 indices is at or above its coupon barrier (each set at 70% of its initial level). If any underlier is below its coupon barrier on an observation date, no coupon is paid for that interest period. If, at maturity, the final level of any underlier is below its downside threshold (also set at 70% of initial level), investors suffer principal loss equal to the performance of the worst performing underlier.

Morgan Stanley Finance LLC is offering callable, principal-at-risk notes due July 7, 2028, fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and a contingent coupon opportunity at an annual rate of 12.55%, payable only if each of the three underliers meets its coupon barrier on an observation date. The securities reference the Nasdaq-100®, Russell 2000® and S&P 500® indices and pay at maturity either the stated principal (if each final level is at or above its 70% downside threshold) or an amount equal to the stated principal multiplied by the performance factor of the worst performing underlier, which could result in a total loss of principal. The notes may be redeemed early beginning on October 7, 2026 if a risk neutral valuation model indicates redemption is economically rational; all payments are subject to Morgan Stanley's credit risk.

Morgan Stanley Finance LLC is offering contingent income auto-callable securities due July 3, 2031, fully and unconditionally guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and an estimated value on the pricing date of approximately $942. The securities pay a contingent coupon at an annual rate of 9.15% only if each underlier is at or above its coupon barrier on each observation date, are subject to automatic early redemption if all underliers meet call thresholds on a redemption determination date, and expose investors to principal loss tied to the worst performing underlier (S&P 500®, XLF, XLK). Key structural features include coupon and downside barrier levels equal to 65% of initial levels, observation dates beginning September 30, 2026, and the final observation date on June 30, 2031. All payments are subject to issuer and guarantor credit risk.