Morgan Stanley Announces Offering of Preferred Stock and Intention to Redeem Its Series G Preferred Stock

Morgan Stanley today announced that it has launched an offering (the “Offering”) of Fixed Rate Non-Cumulative Preferred Stock, Series L, which will be represented by depositary shares (the “Series L Preferred Stock”). The Offering is subject to pricing, which has not yet occurred.

Morgan Stanley today also announced that, if the Offering is priced and proceeds to closing, it intends to redeem its outstanding 6.625% Non-Cumulative Preferred Stock, Series G (61762V408), and the depositary shares representing the Series G Preferred Stock (CUSIP 61762V507; NYSE: MS PrG) (the “Series G Preferred Stock”) on January 15, 2020 pursuant to the optional redemption provisions provided in the documents governing such Series G Preferred Stock (the “Redemption”). Morgan Stanley intends to use the net proceeds from the sale of the depositary shares representing interests in the Series L Preferred Stock to redeem the Series G Preferred Stock and the related depositary shares.

The pricing of the Offering and, therefore, the Redemption, is subject to market conditions and other considerations. There is no assurance that the Offering will price and close and, therefore, that Morgan Stanley will redeem the Series G Preferred Stock. If Morgan Stanley redeems the Series G Preferred Stock, it will announce such Redemption by press release and appropriate notices of redemption, which will contain additional information concerning such Redemption.

The Offering is described in Morgan Stanley’s preliminary prospectus supplement dated November 18, 2019, which will be filed with the U.S. Securities and Exchange Commission today. Copies of the preliminary prospectus supplement may be obtained from Morgan Stanley & Co. LLC, 180 Varick Street, New York, New York 10014, Attention: Prospectus Department; Tel: (866) 718-1649; [email protected].

This press release does not constitute an offer to sell the Series L Preferred Stock or the depositary shares representing the Series L Preferred Stock in any jurisdiction in which such offer is not permitted.

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing investment banking, securities, wealth management and investment management services. With offices in more than 41 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.

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