Morgan Stanley Finance LLC Files 424B2 for Asset-Backed Securities

TL;DR

**MS is issuing new asset-backed securities, watch for impact on their balance sheet.**

AI Summary

Morgan Stanley Finance LLC filed a 424B2 prospectus on March 23, 2026, detailing Pricing Supplement No. 14,745. This filing is related to a previous registration statement (File No. 333-275587-01) and indicates the offering of asset-backed securities. For investors, this means Morgan Stanley Finance LLC is actively raising capital, which could impact its financial structure and future investment capacity.

Why It Matters

This filing signals Morgan Stanley Finance LLC's intent to issue new asset-backed securities, which can affect its liquidity, debt levels, and overall financial health.

Risk Assessment

Risk Level: medium — The issuance of new securities can introduce market risk and potential dilution for existing investors, depending on the terms.

Analyst Insight

Investors should review the full Pricing Supplement No. 14,745 when it becomes available to understand the specific terms, interest rates, and risks associated with these new asset-backed securities, as they could impact Morgan Stanley's financial outlook.

Key Numbers

• 14,745 — Pricing Supplement Number (Identifies the specific terms of the securities being offered.)
• 333-275587-01 — Registration Statement File Number (Links this offering to a broader registration statement for securities.)

Key Players & Entities

• Morgan Stanley Finance LLC (company) — Filer of the 424B2 prospectus
• Morgan Stanley (company) — Parent company of the Filer
• 333-275587-01 (string) — File number for the registration statement
• 14,745 (string) — Pricing Supplement Number
• 2026-03-23 (string) — Filing Date

FAQ

Key Financial Figures

• $1,000 — an Stanley Stated principal amount: $1,000 per security Issue price: $1,000 pe
• $2,700,000 — below) Aggregate principal amount: $2,700,000 Underliers: Invesco S&P 500 Equal W
• $978.20 — Estimated value on the pricing date: $978.20 per security. See "Estimated Value of t
• $7.50 — eds to us (3) Per security $1,000 $7.50 $992.50 Total $2,700,000 $20,25
• $992.50 — s (3) Per security $1,000 $7.50 $992.50 Total $2,700,000 $20,250 $2,679
• $20,250 — $7.50 $992.50 Total $2,700,000 $20,250 $2,679,750 (1) The securities will
• $2,679,750 — 992.50 Total $2,700,000 $20,250 $2,679,750 (1) The securities will be sold only
• $193.32 — level: With respect to the RSP Fund, $193.32 , which is its closing level on the str
• $1,957.50 — erlier Maximum payment at maturity: $1,957.50 per security (195.75% of the stated pri
• $1,100 — appreciates 5%, investors will receive $1,100 per security, or 110% of the stated pri
• $150 — 85% of their principal and receive only $150 per security at maturity, or 15% of the

Filing Documents

• ms14745_424b2-10530.htm (424B2) — 198KB
• ex-filingfees.htm (EX-FILING FEES) — 8KB
• image1.gif (GRAPHIC) — 45KB
• image2.gif (GRAPHIC) — 78KB
• image3.gif (GRAPHIC) — 83KB
• 0001839882-26-016525.txt ( ) — 584KB
• ex-filingfees_htm.xml (XML) — 2KB

Risk Factors

Risk Factors This section describes the material risks relating to the securities. For further discussion of these and other risks, you should read the section entitled "Risk Factors" in the accompanying product supplement and prospectus. We also urge you to consult with your investment, legal, tax, accounting and other advisers in connection with your investment in the securities. Risks Relating to an Investment in the Securities The securities do not guarantee the return of any principal and do not pay interest. The terms of the securities differ from those of ordinary debt securities in that they do not guarantee the repayment of any principal and do not pay interest. If the final level of either underlier is less than its initial level, the payout at maturity will be an amount in cash that is less, and may be significantly less, than the stated principal amount of each security, and you will lose an amount proportionate to the full decline in the level of the worst performing underlier over the term of the securities. There is no minimum payment at maturity on the securities, and, accordingly, you could lose your entire initial investment in the securities. The appreciation potential of the securities is limited by the maximum payment at maturity. Where the final level of the worst performing underlier is greater than its initial level, the appreciation potential of the securities is limited by the maximum payment at maturity. Although the leverage factor provides enhanced exposure to any increase in the final level of the worst performing underlier over its initial level, if the worst performing underlier appreciates over the term of the securities, under no circumstances will the payment at maturity exceed the maximum payment at maturity. The amount payable on the securities is not linked to the values of the underliers at any time other than the observation date. The final levels will be based on the closing levels of the underliers on the observati

View Full Filing

View this 424B2 filing on SEC EDGAR