Morgan Stanley Finance LLC Files FWP for Pricing Supplement No. 15,112

TL;DR

**Morgan Stanley Finance LLC just filed a routine FWP for new securities, business as usual.**

AI Summary

Morgan Stanley Finance LLC filed a Free Writing Prospectus (FWP) on March 24, 2026, related to Preliminary Pricing Supplement No. 15,112. This FWP, with SEC Accession No. 0001839882-26-016717, is a routine filing for the company, indicating ongoing activity in its asset-backed securities offerings. For investors, this filing signifies that Morgan Stanley Finance LLC is actively engaged in issuing new financial products, which can impact its overall financial health and future earnings potential, as these offerings contribute to its revenue streams.

Why It Matters

This FWP indicates Morgan Stanley Finance LLC is actively issuing new securities, which is a core part of its business and revenue generation.

Risk Assessment

Risk Level: low — This FWP is a standard regulatory filing for ongoing business operations and does not indicate any unusual or elevated risk.

Analyst Insight

A smart investor would recognize this as a routine operational filing for Morgan Stanley Finance LLC, indicating ongoing business in asset-backed securities, and would not typically take immediate action based solely on this FWP.

Key Players & Entities

• Morgan Stanley Finance LLC (company) — the entity filing the FWP
• March 24, 2026 (date) — the filing date of the FWP
• 0001839882-26-016717 (other) — the SEC Accession No. for the filing
• 15,112 (other) — the number of the Preliminary Pricing Supplement referenced

FAQ

Key Financial Figures

• $1,115.00 — l 13, 2027 85% of the initial level $1,115.00 to $1,125.00 #2 July 12, 2027 $1,
• $1,125.00 — 85% of the initial level $1,115.00 to $1,125.00 #2 July 12, 2027 $1,143.75 to $1,
• $1,143.75 — .00 to $1,125.00 #2 July 12, 2027 $1,143.75 to $1,156.25 #3 October 11, 2027
• $1,156.25 — .00 #2 July 12, 2027 $1,143.75 to $1,156.25 #3 October 11, 2027 $1,172.50 to
• $1,172.50 — to $1,156.25 #3 October 11, 2027 $1,172.50 to $1,187.50 #4 January 10, 2028
• $1,187.50 — #3 October 11, 2027 $1,172.50 to $1,187.50 #4 January 10, 2028 $1,201.25 to
• $1,201.25 — to $1,187.50 #4 January 10, 2028 $1,201.25 to $1,218.75 #5 April 10, 2028 $1
• $1,218.75 — #4 January 10, 2028 $1,201.25 to $1,218.75 #5 April 10, 2028 $1,230.00 to $1
• $1,230.00 — 25 to $1,218.75 #5 April 10, 2028 $1,230.00 to $1,250.00 #6 July 10, 2028 $1,
• $1,250.00 — 75 #5 April 10, 2028 $1,230.00 to $1,250.00 #6 July 10, 2028 $1,258.75 to $1,
• $1,258.75 — .00 to $1,250.00 #6 July 10, 2028 $1,258.75 to $1,281.25 #7 October 10, 2028
• $1,281.25 — .00 #6 July 10, 2028 $1,258.75 to $1,281.25 #7 October 10, 2028 $1,287.50 to
• $1,287.50 — to $1,281.25 #7 October 10, 2028 $1,287.50 to $1,312.50 #8 January 10, 2029
• $1,312.50 — #7 October 10, 2028 $1,287.50 to $1,312.50 #8 January 10, 2029 $1,316.25 to
• $1,316.25 — to $1,312.50 #8 January 10, 2029 $1,316.25 to $1,343.75 #9 April 10, 2029 $1

Filing Documents

• ms15112_fwp-10718.htm (FWP) — 102KB
• 0001839882-26-016717.txt ( ) — 104KB

From the Filing

WRITING PROSPECTUS TO PRELIMINARY PRICING SUPPLEMENT NO. 15,112 Free Writing Prospectus to Preliminary Pricing Supplement No. 15,112 Registration Statement Nos. 333-275587; 333-275587-01 Dated March 24, 2026; Filed pursuant to Rule 433 M organ S tanley SPUMP40 Buffered Jump Securities with Auto-Callable Feature due April 16, 2031 This document provides a summary of the terms of the securities. Investors must carefully review the accompanying preliminary pricing supplement referenced below, product supplement, index supplement and prospectus, and the "Risk Considerations" on the following page, prior to making an investment decision. Terms Issuer: Morgan Stanley Finance LLC Guarantor: Morgan Stanley Underlier: S&P U.S. Equity Momentum 40% VT 4% Decrement Index (SPUMP40) Automatic early redemption: Determination date: Call threshold level: Early redemption payment (per security): #1 April 13, 2027 85% of the initial level $1,115.00 to $1,125.00 #2 July 12, 2027 $1,143.75 to $1,156.25 #3 October 11, 2027 $1,172.50 to $1,187.50 #4 January 10, 2028 $1,201.25 to $1,218.75 #5 April 10, 2028 $1,230.00 to $1,250.00 #6 July 10, 2028 $1,258.75 to $1,281.25 #7 October 10, 2028 $1,287.50 to $1,312.50 #8 January 10, 2029 $1,316.25 to $1,343.75 #9 April 10, 2029 $1,345.00 to $1,375.00 #10 July 10, 2029 $1,373.75 to $1,406.25 #11 October 10, 2029 $1,402.50 to $1,437.50 #12 January 10, 2030 $1,431.25 to $1,468.75 #13 April 10, 2030 $1,460.00 to $1,500.00 #14 July 10, 2030 $1,488.75 to $1,531.25 #15 October 10, 2030 $1,517.50 to $1,562.50 #16 January 10, 2031 $1,546.25 to $1,593.75 Buffer amount: 15% (85% maximum loss) 1 Pricing date: April 10, 2026 Final determination date: April 10, 2031 Maturity date: April 16, 2031 CUSIP: 61778J7F1 Estimated value: $898.40 per security, or within $48.40 of that estimate Preliminary pricing supplement: https://www.sec.gov/Archives/edgar/data/895421/000183988226016599/ms15112_424b2-10717.htm 1 All payments are subject to our credit risk Hypothetical Examples Automatic Early Redemption 1 Determination Date % Change in Closing Level of the Underlier Early Redemption Payment (per Security) #1 -30% -- #2 +20% $1,143.75* The securities are automatically redeemed on the second early redemption date. Investors will receive a payment of $1,143.75 per security on the related early redemption date. Hypothetical Payment at Maturity 1 (if the securities have not been automatically redeemed prior to maturity) % Change in Closing Level of the Underlier Payment at Maturity (per Security) +40.00% $1,575.00* +20.00% $1,575.00* 0.00% $1,575.00* -10.00% $1,575.00* -15.00% $1,575.00* -16.00% $990.00 -20.00% $950.00 -40.00% $750.00 -60.00% $550.00 -80.00% $350.00 -100.00% $150.00 *Assumes a call return of approximately 11.50% per annum The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-584-6837. Underlier(s) For more information about the underlier(s), including historical performance information, see the accompanying preliminary pricing supplement. Risk Considerations The risks set forth below are discussed in more detail in the "Risk Factors" section in the accompanying preliminary pricing supplement. Please review those risk factors carefully prior to making an investment decision. Risks Relating to an Investment in the Securities The securities provide for only the minimum payment at maturity and do not pay interest. The appreciation potential of the securities is limited by the fixed early redemption payment or payment at maturity specified for each determination date. The securities are subject to early redemption risk. The market price of the securities may be influenced by many unpredictable factors. The securities are subject to our credit risk, and any actual or anticipated changes to our credit ratings or credit spreads may adversely affect the market value of the securities. As a finance subsidiary, MSFL has no independent operations and will have no independent assets. The rate we are willing to pay for securities of this type, maturity and issuance size is likely to be lower than the rate implied by our secondary market credit spreads and advantageous to us. Both the lower rate and the inclusion

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