Morgan Stanley Finance LLC Files 424B2 for Pricing Supplement

TL;DR

**Morgan Stanley Finance LLC filed a routine pricing supplement, no big news.**

AI Summary

Morgan Stanley Finance LLC filed a 424B2 prospectus on March 24, 2026, for Preliminary Pricing Supplement No. 15,120, under their parent company Morgan Stanley. This filing is a routine update for a previously registered offering, likely related to asset-backed securities. For investors, this indicates ongoing financial activity and a commitment to transparency, but doesn't signal a new major event, rather a procedural step in their existing financial operations.

Why It Matters

This filing is a standard update for an existing securities offering, showing Morgan Stanley Finance LLC's ongoing financial activities and compliance with SEC regulations.

Risk Assessment

Risk Level: low — This is a procedural filing for an existing offering, not indicating new or increased risk.

Analyst Insight

Investors should note this as a routine compliance filing, indicating ongoing business as usual for Morgan Stanley Finance LLC, rather than a new investment opportunity or significant corporate event.

Key Numbers

• 0001666268 — CIK for Morgan Stanley Finance LLC (Unique identifier for the filing entity)
• 0000895421 — CIK for Morgan Stanley (Unique identifier for the parent company)
• 333-275587-01 — File No. for Morgan Stanley Finance LLC (Registration statement number for the offering)

Key Players & Entities

• Morgan Stanley Finance LLC (company) — Filer of the 424B2 prospectus
• Morgan Stanley (company) — Parent company of the filer
• Preliminary Pricing Supplement No. 15,120 (document) — The specific document being filed
• March 24, 2026 (date) — Filing date

FAQ

Key Financial Figures

• $1,000 — an Stanley Stated principal amount: $1,000 per security Issue price: $1,000 pe
• $982.60 — ue on the pricing date: Approximately $982.60 per security, or within $55.00 of that
• $55.00 — imately $982.60 per security, or within $55.00 of that estimate. See "Estimated Value
• $1,740 — or equal to its call threshold level: $1,740 If the final level of any underlier i
• $1,148 — #1 April 13, 2027 April 16, 2027 $1,148 #2 October 11, 2027 October 14, 2
• $1,222 — October 11, 2027 October 14, 2027 $1,222 #3 April 10, 2028 April 13, 2028
• $1,296 — #3 April 10, 2028 April 13, 2028 $1,296 #4 October 10, 2028 October 13, 2
• $1,370 — October 10, 2028 October 13, 2028 $1,370 #5 April 10, 2029 April 13, 2029
• $1,444 — #5 April 10, 2029 April 13, 2029 $1,444 #6 October 10, 2029 October 15, 2
• $1,518 — October 10, 2029 October 15, 2029 $1,518 #7 April 10, 2030 April 15, 2030
• $1,592 — #7 April 10, 2030 April 15, 2030 $1,592 #8 October 10, 2030 October 16, 2
• $1,666 — October 10, 2030 October 16, 2030 $1,666 Final determination date April 10,
• $450.00 — g underlier = $1,000 (45.00 / 100.00) = $450.00 Example #4 30.00 ( less than its do
• $300.00 — hold level) $1,000 (30.00 / 100.00) = $300.00 In example #1, the final level of eac

Filing Documents

• ms15120_424b2-10726.htm (424B2) — 281KB
• image1.gif (GRAPHIC) — 76KB
• image2.gif (GRAPHIC) — 78KB
• image3.gif (GRAPHIC) — 88KB
• 0001839882-26-016639.txt ( ) — 616KB

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 securities have not been automatically redeemed prior to maturity and the final level of any underlier is less than its downside threshold level, the payout at maturity will be an amount in cash that is 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 fixed early redemption payment or payment at maturity specified for each determination date. The appreciation potential of the securities is limited by the applicable fixed early redemption payment or payment at maturity, as applicable, payable only if the closing level of each underlier is greater than or equal to its call threshold level on the related determination date. In all cases, you will not participate in any appreciation of any underlier, which could be significant. The securities are subject to early redemption risk. The term of your investment in the securities may be shortened due to the automatic early redemption feature of the securities. If the securities ar

View Full Filing

View this 424B2 filing on SEC EDGAR