Morgan Stanley is offering callable fixed-income securities at $1,000 each, with an estimated value of approximately $990.40 per security and Maturity on October 1, 2027. Investors face principal risk because repayment is not guaranteed, while the obligations remain unsecured and carry Morgan Stanley’s full unconditional guarantee.

Key Highlights

  • The securities are due on October 1, 2027.
  • Sales are restricted to investors using fee-based advisory accounts.
  • Morgan Stanley & Co. expects no sales commission from the offering.

$1,000 Securities Carry Principal Risk

The securities are unsecured obligations of Morgan Stanley (NYSE: MS) Finance LLC and receive Morgan Stanley’s full and unconditional guarantee. They pay a fixed coupon, but repayment of principal is not guaranteed. The securities cannot be redeemed before the first Redemption date, while any permitted early redemption would occur in full on a redemption date under the stated call terms. The instruments are not deposits or savings accounts, do not have federal deposit insurance or another government guarantee, and are not bank obligations. Investors are warned that the securities carry risks beyond those associated with ordinary Debt securities. Morgan Stanley & Co. and other affiliates expect to profit from selling, structuring and, where applicable, hedging the securities. The distribution is to follow FINRA Rule 5121 requirements concerning sales of an affiliate’s securities and related conflicts of interest. The securities are offered only to investors buying through fee-based advisory accounts, and Morgan Stanley & Co. expects to sell the securities it purchases to an unaffiliated dealer for further distribution at the public price.