Morgan Stanley Finance LLC Files Prospectus for New Securities Offering

TL;DR

**Morgan Stanley Finance LLC is selling more asset-backed securities.**

AI Summary

Morgan Stanley Finance LLC, a subsidiary of Morgan Stanley, filed a 424B2 prospectus on March 24, 2026, for Pricing Supplement No. 14,940. This filing indicates that Morgan Stanley Finance LLC is offering new asset-backed securities under its existing registration statement (File No. 333-275587-01). This matters to investors because it signals Morgan Stanley's ongoing activity in the structured finance market, potentially impacting its liquidity and risk profile, and offers new investment opportunities for those interested in asset-backed securities.

Why It Matters

This filing indicates Morgan Stanley Finance LLC is issuing new asset-backed securities, which can affect the parent company's capital structure and provide new investment options for the market.

Risk Assessment

Risk Level: medium — The offering of asset-backed securities carries inherent risks related to the underlying assets and market conditions, making it a medium-risk event.

Analyst Insight

Investors interested in fixed-income or structured products should review Pricing Supplement No. 14,940 for specific terms and risks of the new asset-backed securities offered by Morgan Stanley Finance LLC.

Key Numbers

• 14,940 — Pricing Supplement Number (Identifies the specific offering detailed in this filing.)
• 0001666268 — CIK for Morgan Stanley Finance LLC (Unique identifier for the filing entity.)
• 0000895421 — CIK for Morgan Stanley (Unique identifier for the parent company.)
• 2026-03-24 — Filing Date (The date the 424B2 was filed with the SEC.)
• 333-275587-01 — File No. for Morgan Stanley Finance LLC (The registration statement under which these securities are being offered.)

Key Players & Entities

• Morgan Stanley Finance LLC (company) — Filer of the 424B2 prospectus
• Morgan Stanley (company) — Parent company of the filer
• March 24, 2026 (date) — Filing date of the 424B2
• Pricing Supplement No. 14,940 (document) — Specific pricing supplement detailed in the filing
• 333-275587-01 (document) — File number for Morgan Stanley Finance LLC's registration statement

Forward-Looking Statements

• Morgan Stanley Finance LLC will continue to issue similar asset-backed securities offerings. (Morgan Stanley Finance LLC) — high confidence, target: 2027-03-24

FAQ

Key Financial Figures

• $1,000 — an Stanley Stated principal amount: $1,000 per security Issue price: $1,000 pe
• $2,796,000 — below) Aggregate principal amount: $2,796,000 Underliers: Dow Jones Industrial Av
• $970.40 — Estimated value on the pricing date: $970.40 per security. See "Estimated Value of t
• $10 — eds to us (2) Per security $1,000 $10 $990 Total $2,796,000 $27,960
• $990 — us (2) Per security $1,000 $10 $990 Total $2,796,000 $27,960 $2,768
• $27,960 — 000 $10 $990 Total $2,796,000 $27,960 $2,768,040 (1) The securities will
• $2,768,040 — $990 Total $2,796,000 $27,960 $2,768,040 (1) The securities will be sold only
• $1,205 — #1 March 24, 2027 March 29, 2027 $1,205 #2 March 20, 2028 March 23, 2028
• $1,410 — #2 March 20, 2028 March 23, 2028 $1,410 Page 2 Morgan Stanley Finance LLC
• $1,400 — ier) = $1,000 + ($1,000 200% 20%) = $1,400 Example #2 90.00 ( equal to or less
• $300.00 — g underlier = $1,000 (30.00 / 100.00) = $300.00 Example #4 40.00 ( less than its do
• $200.00 — hold level) $1,000 (20.00 / 100.00) = $200.00 In example #1, the final level of eac

Filing Documents

• ms14940_424b2-10659.htm (424B2) — 261KB
• ex-filingfees.htm (EX-FILING FEES) — 8KB
• image1.gif (GRAPHIC) — 76KB
• image2.gif (GRAPHIC) — 83KB
• image3.gif (GRAPHIC) — 88KB
• 0001839882-26-016743.txt ( ) — 704KB
• 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 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. If the securities are automatically redeemed prior to maturity, the appreciation potential of the securities is limited by the fixed early redemption payment specified for each determination date. If the closing level of each underlier is greater than or equal to its call threshold level on any determination date, the appreciation potential of the securities is limited by the applicable fixed early redemption payment, and no further payments will be made on the securities once they have been redeemed. If the securities are automatically redeemed prior to maturity, you will not participate in any appreciation of any underlier, which could be significant. The fixed early redemption payment may be less than the payment at maturity you would

View Full Filing

View this 424B2 filing on SEC EDGAR