MORGAN STANLEY SEC Filings

Morgan Stanley Finance LLC, fully and unconditionally guaranteed by Morgan Stanley, is issuing Trigger PLUS structured notes linked to the S&P 500® Futures Excess Return Index under its global medium-term note program. Each note has a stated principal of $1,000, aggregate principal of $125,000, and matures on July 15, 2031.

At maturity, if the index final level is above the initial level of 606.46, holders receive $1,000 plus 205% of the index gain. If the final level is between 70% of the initial level (the 424.522 downside threshold) and the initial level, only principal is returned. Below the threshold, repayment is reduced 1% for each 1% index decline, with no minimum, so the entire investment can be lost.

The estimated value on the July 10, 2026 pricing date is $942.40 per note, lower than the $1,000 issue price due to issuance, selling, structuring and hedging costs and the issuer’s funding rate. The notes pay no interest, are unsecured obligations subject to Morgan Stanley’s credit risk, may have limited secondary market liquidity, and have uncertain U.S. tax treatment, which counsel currently analyzes as prepaid financial contracts.

Morgan Stanley Finance LLC is offering $250,000 of Callable Contingent Income Securities, in $1,000 denominations, due July 13, 2029, fully and unconditionally guaranteed by Morgan Stanley. These principal-at-risk notes are linked to the worst performer of the Nasdaq-100 Index, Russell 2000 Index and State Street SPDR S&P Regional Banking ETF.

Holders may receive a 9.60% per annum contingent coupon on scheduled payment dates only if, on each observation date, every underlier is at or above its coupon barrier level, set at 70% of its initial level. If the notes are not redeemed early and, on the final observation date, each underlier is at or above its downside threshold level of 50% of its initial level, investors receive full principal back (plus any final coupon). If any underlier finishes below its downside threshold, the maturity payment is reduced 1-for-1 with the decline of the worst underlier, potentially to $0.

Beginning January 14, 2027, the issuer may redeem the notes on specified dates at par plus any due coupon if a risk neutral valuation model indicates redemption is economically rational for Morgan Stanley. The securities are unsecured obligations subject to Morgan Stanley’s credit risk and are not insured or equivalent to direct investments in the underliers.

Morgan Stanley Finance LLC is offering $1,945,000 of Jump Securities with an auto-callable feature linked to the worst performing of the EURO STOXX 50 Index and the Russell 2000 Index, fully and unconditionally guaranteed by Morgan Stanley.

The notes are issued at $1,000 per security, with an estimated value on the July 10, 2026 pricing date of $960.90. They pay no interest and do not guarantee principal. Beginning July 19, 2027, if on any determination date both indices are at or above their call threshold (100% of initial), the notes are automatically redeemed for a cash amount corresponding to approximately 12.85% per annum, up to $1,610.375 per security before maturity.

If the notes are not called and are held to July 15, 2031, investors receive $1,642.50 per security if both indices are at or above their call thresholds, only the stated principal amount if both remain at or above 80% of initial, and a proportional loss based on the worst index if either finishes below its downside threshold, potentially losing the entire investment. All payments depend on the creditworthiness of Morgan Stanley Finance LLC and Morgan Stanley, secondary market liquidity may be limited, and the U.S. tax treatment is described as uncertain.

Morgan Stanley Finance LLC, guaranteed by Morgan Stanley, is issuing principal-at-risk Contingent Income Auto-Callable Securities due July 13, 2028, linked to the worst of three ETFs: iShares Expanded Tech-Software (IGV), SPDR S&P Biotech (XBI) and SPDR S&P Regional Banking (KRE). Each note is offered at $1,000, with $648,000 aggregate principal.

Investors may receive a 15.40% per annum contingent coupon on scheduled dates, but only if every ETF closes at or above its coupon barrier, set at 70% of its initial level. Beginning January 11, 2027, the notes auto-call on specified redemption determination dates if all ETFs are at or above their initial levels, returning principal plus the applicable coupon.

If not called, repayment at maturity depends on final levels. If each ETF is at or above its downside threshold (60% of initial), principal is repaid (plus any final coupon if barrier conditions are met). If any ETF finishes below its downside threshold, investors receive $1,000 multiplied by the worst performer’s final level divided by its initial level, matching its percentage decline and allowing for a total loss. The estimated value is $978.40 per note, and all payments depend on Morgan Stanley’s credit and secondary market liquidity.

Morgan Stanley Finance LLC is offering $950,000 aggregate principal amount of Trigger PLUS structured notes linked to the State Street Financial Select Sector SPDR ETF.

Each $1,000 security, fully and unconditionally guaranteed by Morgan Stanley, pays no interest and matures September 15, 2027. The payoff depends on the ETF level on a single observation date. If the final level exceeds the $55.71 initial level, investors receive principal plus 200% of the gain, capped at a maximum payment of $1,150 per security. If the final level is at or above a $50.139 downside threshold but at or below the initial level, only principal is returned. Below the threshold, holders lose 1% of principal for each 1% ETF decline, with no minimum repayment.

The securities are unsecured and subject to Morgan Stanley credit risk, are not bank deposits or FDIC‑insured, and may be hard to sell before maturity. The estimated value on the pricing date is $971.30 per security, below the $1,000 issue price because it reflects embedded costs and dealer compensation.

Morgan Stanley Finance LLC, fully guaranteed by Morgan Stanley, is offering $4,415,000 of Enhanced Buffered Jump Securities due July 28, 2027 linked to Micron Technology, Inc. common stock. The unsecured notes pay no interest, are not principal-protected and are issued at $1,000 per security.

At maturity, if the average Micron share price on specified July 2027 dates is at or above 60% of the $979.30 initial level, holders receive $1,382.50 per security, a fixed 38.25% return. If it falls below that buffer, investors lose 1.6667% of principal for each 1% decline beyond the 40% buffer, with no minimum repayment. The estimated value on the pricing date is $984 per security, reflecting embedded issuance, structuring and hedging costs. Returns also depend on Morgan Stanley’s credit; the notes rank pari passu with other unsecured, unsubordinated obligations, and secondary market liquidity may be limited.

Morgan Stanley Finance LLC is offering $1,886,000 of Contingent Income Memory Buffered Auto-Callable Securities due July 15, 2031, linked to the S&P U.S. Equity Momentum 40% VT 4% Decrement Index and fully and unconditionally guaranteed by Morgan Stanley.

The notes pay a 10.60% per annum contingent coupon, only if the index closes at or above the coupon barrier of 954.744 (70% of the 1,363.92 initial level) on each observation date, with a “memory” feature for previously missed coupons. They are automatically redeemed at par plus applicable coupons if the index is at or above the 1,363.92 call threshold (100% of initial) on any redemption determination date after July 12, 2027.

If not called, investors receive principal at maturity only if the final index level is at or above the 1,159.332 buffer level (85% of initial); below that, principal is reduced 1% for each 1% decline beyond the 15% buffer, subject to a minimum payment of 15% of principal. The issue price is $1,000 per security, while the estimated value on the pricing date is $898.30, reflecting issuance, selling, structuring and hedging costs. The notes are unsecured, subject to Morgan Stanley’s credit risk, and may have limited or no secondary market liquidity.

Morgan Stanley Finance LLC, fully guaranteed by Morgan Stanley, is offering $500,000 of Trigger PLUS notes linked to the S&P 500 Index, maturing July 15, 2031. Each $1,000 note pays no interest and has principal fully at risk.

If the S&P 500 final level on July 10, 2031 exceeds the initial level of 7,575.39, holders receive $1,000 plus 110% of the index gain. If the final level is between 80% and 100% of the initial level (down to the downside threshold level of 6,060.312), holders receive only the $1,000 stated principal amount. Below the threshold, repayment equals $1,000 multiplied by the index performance factor, causing a 1% loss of principal for each 1% index decline and potentially a total loss.

The estimated value is $978.90 per note, below the $1,000 issue price because of distribution, structuring and hedging costs. All payments depend on Morgan Stanley’s credit, and secondary market liquidity is expected to be limited.

Morgan Stanley Finance LLC is offering $50,000,000 of unsecured Callable Contingent Income Memory Buffered Securities, fully and unconditionally guaranteed by Morgan Stanley and linked to the worst-performing of the Dow Jones Industrial Average, Nasdaq‑100 Equal Weighted Index and Russell 2000 Futures Excess Return Index.

The notes pay a 10.00% per annum contingent coupon only when each index closes at or above its coupon barrier (75% of its initial level) on an observation date; missed coupons can be paid later if a future observation meets the barrier, without additional interest. From October 15, 2026, the issuer may redeem the notes in whole on scheduled redemption dates if a risk neutral valuation model indicates early redemption is economically rational for Morgan Stanley; investors then receive principal plus the applicable coupon and any unpaid coupons.

If not redeemed early, investors receive full principal at maturity on July 13, 2029 only if each index’s final level is at or above its 25% buffer. Otherwise, principal is reduced using a 1.3333 downside factor applied to the decline of the worst index beyond the buffer, potentially to zero. The estimated value on the pricing date is $987.20 per $1,000 security, and all payments are subject to Morgan Stanley’s credit and limited liquidity risks.