Closed3YGrowth Note

Principal Protected Catapult Growth Note

Issued by Morgan Stanley

Principal Protected Catapult Growth Note - Earn 27.80% in Year-1 or 1.25x upside participation

Trade DateJul 7, 2026

This offering is available to accredited investors.

If I invest

$25,000

Note is called at the end of Year-1

27.80%

$31,950

Stock is up 30% at maturity

37.5%

$34,375

Stock is down 30% at maturity

0%

$25,000

Stock is down 100% at maturity

0%

$25,000

If the note is auto-called after Year-1, it ends early and investors receive a 27.80% return.
If not called, the note offers 1.25x upside based on the worst-performing underlier among NVDA, PLTR, AMD, at maturity/
Principal is returned at maturity regardless of the performance of the underliers.