Morgan Stanley Finance LLC Files 424B2 for New Securities Offering

TL;DR

**Morgan Stanley Finance LLC is prepping a new securities offering, watch for details.**

AI Summary

Morgan Stanley Finance LLC filed a 424B2 prospectus on March 24, 2026, for a new offering under File No. 333-275587-01. This filing, a preliminary pricing supplement, indicates Morgan Stanley Finance LLC is preparing to issue new securities. For investors, this means potential dilution or new debt, which could impact the company's financial structure and future earnings, making it important to understand the terms of the upcoming offering.

Why It Matters

This filing signals Morgan Stanley Finance LLC's intent to raise capital, which could affect the company's debt levels, equity structure, and ultimately, shareholder value.

Risk Assessment

Risk Level: medium — The filing of a prospectus for new securities introduces financial risk through potential dilution for equity holders or increased debt obligations for the company.

Analyst Insight

Investors should monitor for the final pricing supplement or prospectus to understand the specific terms, size, and type of securities being offered by Morgan Stanley Finance LLC, as this will clarify the potential impact on existing shareholders or bondholders.

Key Numbers

• 2026-03-24 — Filing Date (Date the 424B2 prospectus was filed by Morgan Stanley Finance LLC)
• 389057 — Size in bytes (Size of the PRELIMINARY PRICING SUPPLEMENT NO. 15,114 document)
• 15,114 — Pricing Supplement Number (Identifies the specific preliminary pricing supplement filed)
• 333-275587 — File Number (Registration statement file number for Morgan Stanley)
• 333-275587-01 — File Number (Registration statement file number for Morgan Stanley Finance LLC)

Key Players & Entities

• Morgan Stanley Finance LLC (company) — Filer of the 424B2 prospectus
• Morgan Stanley (company) — Parent company, also listed as a Filer
• 0001666268 (person) — CIK for Morgan Stanley Finance LLC
• 0000895421 (person) — CIK for Morgan Stanley
• 333-275587-01 (dollar_amount) — File Number for Morgan Stanley Finance LLC's offering

Forward-Looking Statements

• Morgan Stanley Finance LLC will proceed with a new securities offering based on this preliminary pricing supplement. (Morgan Stanley Finance LLC) — high confidence, target: 2026-04-30

FAQ

Key Financial Figures

• $1,000 — an Stanley Stated principal amount: $1,000 per security Issue price: $1,000 pe
• $901.30 — ue on the pricing date: Approximately $901.30 per security, or within $51.30 of that
• $51.30 — imately $901.30 per security, or within $51.30 of that estimate. See "Estimated Value
• $1,625.00 — or equal to the call threshold level: $1,625.00 to $1,675.00 (to be determined on the p
• $1,675.00 — he call threshold level: $1,625.00 to $1,675.00 (to be determined on the pricing date)
• $1,125.00 — #1 April 13, 2027 April 16, 2027 $1,125.00 to $1,135.00 #2 May 10, 2027 May
• $1,135.00 — 3, 2027 April 16, 2027 $1,125.00 to $1,135.00 #2 May 10, 2027 May 13, 2027 $1
• $1,135.417 — 00 #2 May 10, 2027 May 13, 2027 $1,135.417 to $1,146.25 #3 June 10, 2027 Jun
• $1,146.25 — 10, 2027 May 13, 2027 $1,135.417 to $1,146.25 #3 June 10, 2027 June 15, 2027
• $1,145.833 — #3 June 10, 2027 June 15, 2027 $1,145.833 to $1,157.50 #4 July 12, 2027 Jul
• $1,157.50 — 0, 2027 June 15, 2027 $1,145.833 to $1,157.50 #4 July 12, 2027 July 15, 2027
• $1,156.25 — #4 July 12, 2027 July 15, 2027 $1,156.25 to $1,168.75 #5 August 10, 2027 A
• $1,168.75 — 12, 2027 July 15, 2027 $1,156.25 to $1,168.75 #5 August 10, 2027 August 13, 202
• $1,166.667 — 5 August 10, 2027 August 13, 2027 $1,166.667 to $1,180.00 #6 September 10, 2027
• $1,180.00 — 2027 August 13, 2027 $1,166.667 to $1,180.00 #6 September 10, 2027 September 1

Filing Documents

• ms15114_424b2-10783.htm (424B2) — 380KB
• image1.gif (GRAPHIC) — 114KB
• 0001839882-26-016660.txt ( ) — 539KB

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, index 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 provide for only the minimum payment at maturity and do not pay interest. The terms of the securities differ from those of ordinary debt securities in that they provide for only the minimum payment at maturity and do not pay interest. If the securities have not been automatically redeemed prior to maturity and the final level is less than the buffer level, the payout at maturity will be an amount in cash that is 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 underlier over the term of the securities beyond the buffer amount. You could lose a significant portion of your 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 the underlier is greater than or equal to the call threshold level on the related determination date. In all cases, you will not participate in any appreciation of the 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 are automatically redeemed prior to maturity, you will receive no further

View Full Filing

View this 424B2 filing on SEC EDGAR