MORGAN STANLEY SEC Filings

Morgan Stanley Finance LLC priced $2,086,000 of Dual Directional Buffered PLUS notes due November 23, 2027, fully guaranteed by Morgan Stanley. Each security has a stated principal amount of $1,000 and an original issue price of $1,000. The securities reference the Dow Jones Industrial Average and the Russell 2000 and pay at maturity based on the worst performing underlier, with a 150% leverage factor on upside (capped at $1,250 per security). A 15% buffer applies: declines beyond that buffer reduce principal dollar‑for‑dollar, and a 15% minimum payment of principal applies. Estimated value on the pricing date was $987.60 per security. The securities do not pay interest and are subject to issuer credit risk, limited secondary market liquidity, and uncertain U.S. federal income tax treatment.

The issuer, Morgan Stanley Finance LLC, is offering structured, principal-at-risk notes due May 22, 2031 linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index. The offering is for $300,000 aggregate principal at $1,000 per security with an estimated value of $937 on the pricing date.

The securities pay a contingent coupon at an annual rate of 11.75% on observation dates when the underlier closes at or above the coupon barrier level (983.815, 70% of the initial level). The notes are auto-callable beginning on the first redemption determination date (May 18, 2027) if the underlier ≥ the call threshold (1,264.905, 90% of initial). At maturity, if the final level ≥ the buffer level (1,194.633, ~85% of initial), investors receive principal; if below, payoff = principal × (performance factor + 15%) subject to a 15% minimum payment at maturity.

Morgan Stanley Finance LLC priced a $1,458,000 offering of Principal-at-Risk notes due May 22, 2031, fully guaranteed by Morgan Stanley. Each security has a $1,000 stated principal amount and was issued at $1,000 with an estimated value of $902.90 on the pricing date.

The notes pay a contingent annual coupon of 9.00% only if the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index closing level meets the coupon barrier on specified observation dates. The notes feature automatic early redemption if the index is at or above the call threshold (90% of the initial level) on a redemption determination date and a buffer equal to 15% at maturity; if the final level is below the buffer, payment at maturity will reflect losses beyond the buffer, subject to a 15% minimum payment.

Morgan Stanley Finance LLC is offering $3,076,000 aggregate principal amount of Buffered PLUS securities due June 22, 2029, fully and unconditionally guaranteed by Morgan Stanley. The securities are principal-at-risk notes linked to the worst-performing of the Dow Jones Industrial Average and the S&P 500, with a leverage factor of 119.55%, a 20% buffer and a minimum payment at maturity of 20% of principal. Issue price is $1,000 per security (estimated value on the pricing date: $989.50). Initial levels are INDU 49,686.12 and SPX 7,403.05 as of May 18, 2026. Payment at maturity depends solely on closing levels on the observation date (June 18, 2029) and may result in loss of principal if the worst performing underlier falls below its 80% buffer level. All payments are subject to issuer credit risk.

Morgan Stanley Finance LLC is offering principal-at-risk, contingent-income, memory auto-callable securities tied to the Nasdaq-100 Index. Each security has a stated principal amount of $1,000, an original issue price of $1,000 and an estimated value on pricing date of $985.20. The securities pay a contingent coupon at an annual rate of 11.76% if the underlier is at or above the coupon barrier on observation dates, are subject to automatic early redemption if the index is at or above the call threshold on redemption determination dates, and expose investors to full downside in the event the final level is below the downside threshold (both barrier and downside threshold equal 80% of initial level). All payments are unsecured obligations of MSFL and fully guaranteed by Morgan Stanley and are subject to issuer credit risk.

Morgan Stanley Finance LLC is offering Principal at Risk Callable Contingent Income Securities due May 25, 2029, fully and unconditionally guaranteed by Morgan Stanley. The securities have a stated principal amount of $1,000 per security and an issue price of $1,000 per security. They pay a contingent coupon at an annual rate of 13.20% only when the closing level of each underlier is at or above its coupon barrier (70% of initial level) on an observation date. The securities are linked to the worst performing of the EURO STOXX 50®, Nasdaq-100® Technology Sector and Russell 2000® indices. If any underlier is below its downside threshold (70% of initial) at maturity, payment equals principal multiplied by the performance factor of the worst performing underlier, potentially resulting in substantial principal loss or zero repayment. An issuer call is possible beginning on August 27, 2026 if a risk neutral valuation model indicates redemption is economically rational for the issuer. Estimated value on the pricing date was approximately $980.20 per security. All payments are subject to Morgan Stanley credit risk.

Morgan Stanley Finance LLC amends a preliminary pricing supplement for callable, principal-at-risk notes linked to the worst performing of the Russell 2000® and the S&P 500®. The securities have a $1,000 issue price per security and mature on December 2, 2027.

The notes pay a contingent coupon at an annual rate of 12.90% on each coupon date only if the closing level of both underliers is at or above their coupon barrier levels on the related observation date. A trigger event occurs if either underlier falls below its downside threshold (75% of initial level) on any trading day, exposing holders to losses in the worst performing underlier. The issuer may redeem early on specified monthly redemption dates beginning December 3, 2026 if a risk neutral valuation model indicates redemption is economically rational. The estimated value on the pricing date is approximately $987.10 per security.

Morgan Stanley Finance LLC is offering capped leveraged buffered basket-linked notes fully and unconditionally guaranteed by Morgan Stanley. The notes provide 150% Upside Participation on positive basket returns up to a capped payout and a 10.00% buffer on modest declines.

Key pricing and mechanics: Face Amount $1,000, estimated value on the trade date approximately $979.90, expected Maximum Settlement Amount between $1,223.80 and $1,262.65 per $1,000, and an estimated term of about 17 to 20 months (determination and maturity dates set on the Trade Date).

Morgan Stanley Finance LLC is offering contingent income, auto-callable principal-at-risk securities linked to the iShares U.S. Medical Devices ETF. Each security has a stated principal amount of $1,000, an issue price of $1,000, and an estimated value on the pricing date of approximately $955.70. The notes pay a contingent coupon of 9.30% per annum on observation dates when the closing level of the underlier is at or above an 85% coupon barrier and may automatically redeem early if the underlier meets a 100% call threshold on any redemption determination date. At maturity, if the final level is below an 85% downside threshold, investors suffer proportional principal loss (performance factor = final level / initial level). All payments are subject to Morgan Stanley's credit risk.