MORGAN STANLEY SEC Filings

Morgan Stanley Finance LLC is offering structured, principal-at-risk notes due July 5, 2030 that are fully and unconditionally guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and will pay a fixed upside payment of 38% to 40% if the S&P 500® Futures Excess Return Index final level is at or above a downside threshold equal to 70% of the initial level. If the final level is below that threshold, investors lose 1% of principal for each 1% decline in the underlier; there is no minimum payment and the principal could be lost. The pricing date and strike date are June 30, 2026; the original issue date is July 6, 2026. The preliminary estimated value on the pricing date is $969.20 per security. All payments are subject to Morgan Stanleys credit risk, and tax treatment is uncertain under U.S. federal income tax rules.

Morgan Stanley Finance LLC priced a structured, principal‑at‑risk note linked to the common stock of Super Micro Computer, Inc. The notes have a $1,000 face amount, a stated estimated value of $958.60 on the pricing date and a contingent monthly coupon feature with a contingent coupon rate of at least 24.05% per annum. The securities are auto‑callable beginning after a three‑month non‑call period and mature on June 8, 2029 if not called. Payments depend on the stock closing price on monthly calculation days; if the ending price is below 45% of the starting price holders absorb losses on a one‑for‑one basis. All payments are subject to Morgan Stanley credit risk and model valuation assumptions.

Morgan Stanley Finance LLC priced contingent income, memory auto-callable securities linked to Micron Technology common stock. The securities have a $1,000 stated principal amount, an issue price of $1,000 and an estimated value on the pricing date of $951.80. They pay a contingent coupon at an annual rate of 22.20% on observation dates when the closing level of the underlier is at or above the coupon barrier.

If automatically redeemed on a redemption determination date, holders receive principal plus the contingent coupon. If held to maturity (June 2, 2031) and the final level is below the downside threshold, payment at maturity is reduced pro rata by the performance factor and could be significantly less than principal or zero. All payments are subject to issuer and guarantor credit risk.

Morgan Stanley Finance LLC priced callable Jump Notes due July 3, 2031 that are fully guaranteed by Morgan Stanley. The notes pay no regular interest and deliver at maturity either the stated principal plus an upside payment — equal to the stated principal × 115% × the percent change of the worst performing underlier — if both underliers finish above their initial levels, or only the stated principal if either underlier is equal to or below its initial level.

The notes reference the Russell 2000® and S&P 500®, are callable beginning July 7, 2027 based on the output of a risk neutral valuation model, and include scheduled fixed minimum redemption payments that increase each month (starting at at least $1,120.00 on July 7, 2027 and rising to at least $1,590.00 on June 4, 2031). All payments are subject to Morgan Stanley’s credit risk; the estimated value on the pricing date was approximately $962.90 per note.

Morgan Stanley Finance LLC is offering market-linked notes due July 5, 2030 linked to the EURO STOXX 50® Index with a $1,000 stated principal amount per note. The notes pay no interest and at maturity will return principal plus an upside payment only if the final index level exceeds the initial level; otherwise you receive the stated principal amount.

The upside payment equals the stated principal amount multiplied by a participation rate (to be set on the pricing date and ranging from 113.25% to 118.25% in this preliminary supplement) times the underlier percent change. The estimated value on the pricing date is approximately $970.60 per note. All payments are subject to the issuer’s and guarantor’s credit risk; the notes will not be listed and may have limited secondary liquidity. Tax treatment is expected to be as contingent payment debt instruments for U.S. holders.

Morgan Stanley Finance LLC is offering principal-at-risk, auto-callable notes due June 30, 2031 that are 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 $903.40. The securities pay a contingent coupon (annual rate to be set on the pricing date of 9.00% to 10.00%) only if the underlier meets the coupon barrier on observation dates. They feature automatic early redemption if the underlier is at or above a call threshold (90% of the initial level) on any redemption determination date beginning June 25, 2027. At maturity, if not called, investors receive principal if the final level is at or above the buffer level (80% of initial); if below, payment equals $1,000 × (final level / initial level + 20%), subject to a minimum payment of 20% of principal. All payments are subject to issuer credit risk and certain tax and liquidity considerations described herein.

Morgan Stanley Finance LLC is offering structured, principal-at-risk notes linked to NVIDIA Corporation common stock with a $1,000 stated principal amount per security. The notes feature a 20% buffer, automatic early redemption with fixed early redemption payments (first determination date June 2, 2027), and maturity on May 31, 2030. If not called, payment at maturity depends on the final level versus the call threshold ($214.25) and buffer ($171.40); investors may lose principal if the final level is below the buffer. The offering price is $1,000 per security; estimated value at pricing was $955.40. All payments are subject to the issuer's and guarantor's credit risk.

Morgan Stanley Finance LLC priced a contingent income, memory buffered, auto-callable Principal-at-Risk note linked to Eli Lilly common stock. The securities have a $1,000 stated principal amount, an issue price of $1,000 and an estimated value on the pricing date of $985.50 per security.

The notes pay a 12.08% annual contingent coupon on observation dates if the closing level of Eli Lilly is at or above the coupon barrier of $812.19 (75% of the initial level). The notes are auto‑callable if Eli Lilly’s closing level on a redemption determination date is at or above the call threshold of $1,082.92 (100% of the initial level). At maturity, if the final level is below the buffer level of $812.19, investors incur a loss equal to 1.3333% of principal for each 1% decline beyond the 25% buffer.

Morgan Stanley Finance LLC is offering principal-at-risk, contingent-coupon, auto-callable notes due June 30, 2031, fully guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and an estimated value on the pricing date of $902.70. The notes pay a contingent coupon only if the underlier—the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index—meets or exceeds the coupon barrier on observation dates, and may be automatically redeemed early if the index meets the call threshold on redemption determination dates. At maturity, if not redeemed, investors receive principal only if the final level is at or above the buffer level; otherwise losses apply at a 1:1 rate beyond the 15% buffer, subject to a 15% minimum payment at maturity. All payments are subject to the issuer and guarantor credit risk. The actual coupon rate will be set on the pricing date and the aggregate offering amount is not stated in this preliminary supplement.