Morgan Stanley Finance LLC filed a Free Writing Prospectus to Preliminary Pricing Supplement No. 19,813 on November 2, 2026, relating to Worst-of NDXT, RTY and SPX Trigger Jump Securities due November 28, 2031.

Key Highlights

  • Issuer and guarantor: Morgan Stanley Finance LLC is the issuer, with Morgan Stanley as guarantor, subject to Morgan Stanley's credit risk.
  • Underliers: The securities are linked to the worst-performing of three indexes: the Nasdaq-100 Technology Sector Index (NDXT), the Russell 2000 Index (RTY), and the S&P 500 Index (SPX).
  • Upside payment range: The filing states an upside payment of $625 to $775 per security (62.50% to 77.50% of the stated principal amount).
  • Downside threshold: The downside threshold level is 70% of the initial level for each underlier.
  • Estimated value: The filing discloses an estimated value of $928.10 per security, or within $55.00 of that estimate.
  • Key dates: The pricing date is November 24, 2026, the observation date is November 24, 2031, and the maturity date is November 28, 2031.
  • CUSIP: 61781TQV8; the securities will not be listed on any securities exchange, according to the filing.

Terms and Payoff Structure of the MSFL Trigger Jump Securities No. 19,813

According to the filing, Morgan Stanley Finance LLC is offering Worst-of NDXT, RTY and SPX Trigger Jump Securities with a stated principal amount of $1,000 per security. The return at maturity depends solely on the performance of the worst-performing underlier among the three referenced indexes. The filing notes that the downside threshold level is set at 70% of the initial level for each underlier, and that the payment is based on conditions observed on the November 24, 2031 observation date.

The filing illustrates several hypothetical payoff scenarios. If the worst-performing underlier appreciates by 10%, investors would receive a return of 62.50%, or $1,625 per security. If the worst-performing underlier appreciates by 80%, investors would receive an 80% return, or $1,800 per security. In a downside scenario where the worst-performing underlier depreciates by 85%, investors would lose 85% of their principal and receive only $150 per security, or 15% of the stated principal amount. The filing also presents a tabular range: at a -31.00% change, the payment at maturity per security is listed as $690.00, and at -100.00% it is $0.00.

The filing discloses that the estimated value of $928.10 per security is less than the original issue price, noting that inclusion of costs associated with "issuing, selling, structuring and hedging the securities in the original issue price reduce the economic terms of the securities." The filing further states that the securities do not guarantee return of any principal, do not pay interest, and are subject to Morgan Stanley's credit risk. The estimated value is determined by reference to Morgan Stanley's own pricing and valuation models. The filing was made pursuant to Rule 433 under Registration Statement Nos. 333-293641 and 333-293641-01.

What Was Disclosed

Morgan Stanley Finance LLC filed a Free Writing Prospectus on November 2, 2026, summarizing the terms of Trigger Jump Securities linked to the worst-performing of three indexes, with a pricing date of November 24, 2026, and maturity on November 28, 2031, under CUSIP 61781TQV8.