Morgan Stanley Preferred Certificate of Deposit (CD)

^*The Certificate of Deposits rates are quoted as of 9/15/25 and may change at any time before purchase. The 3, 6, 9, and 11 month CDs will pay coupons at maturity and the 23 month CD semi-annually. State restrictions may apply. Rate refers to the Rate of Interest, also known as Annual Percentage Rate (APR).

¹ Deposits will be held at Morgan Stanley Private Bank, National Association (MSPBNA) and/or Morgan Stanley Bank, N.A. (MSBNA) (Banks) for a total potential promotional balance of up to $20,000,000 across the two Banks..

² National deposit rates respectively, according to FDIC’s Monthly National Rates and Rate Caps-Monthly Update for week of 9/15/25. https://www.fdic.gov/ resources/bankers/national-rates/index.html.

³ Upon maturity, your principal and interest will automatically be placed in our Preferred Savings Program, which offers a variable rate (nota fixed rate for a set time), and you will have access to funds and continue to enjoy a competitive yield.  Preferred Savings Program for Qualifying Cash is not intended for clients who need to have frequent access to funds and those funds will not be automatically accessed to reduce a debit or margin loan in your brokerage account. Withdrawals from an account in Preferred Savings Program for Qualifying Cash are limited to 10 transactions per calendar month, and any withdrawal or transfer over the limit in any one calendar month will be subject to an excess withdrawal fee. 

⁴ Only Qualifying cash is eligible for CDs. Qualifying cash is defined as new cash proceeds into the Banks in the last 30 calendar days, inclusive of deposits from external sources and proceeds from the sale of money market funds, mutual funds, fixed income, equities and all other securities, net of any cash outflows, in a client's brokerage account. Net proceeds from weekends and holidays will be included if they immediately precede the first day of the 30 day period.

⁵ No cash management fees will be charged by Morgan Stanley for ATM use, Foreign Transaction Fees, or Outgoing Wire Fees with eAuthorizations. Third party cash management fees may apply. A monthly account fee will be charged but can be avoided if you meet certain criteria.

⁶ Assets may be held at either Morgan Stanley Private Bank, National Association and/or Morgan Stanley Bank, N.A. You may deposit a maximum of $10,000,000 per bank across both Morgan Stanley banks. Your Financial Advisor will work with you to deposit your assets in the bank(s) as appropriate.

CDs are subject to availability. Prevailing rates of Preferred CDs available to purchase are subject to change throughout the offer period but will not change once the CD is purchased.

This offer may be withdrawn at any time. Morgan Stanley Smith Barney LLC (MSSB) may impose order limits at its discretion.

Qualifying Cash deposit(s) date is subject to change. CDs are subject to availability. Prevailing rates of Preferred CDs available to purchase are subject to change without notice throughout the offer period but will not change once the CD is purchased.

The Certificate of Deposit (CD) is only available to clients with a legal address of record in eligible countries. The following business types will be ineligible for the CD: Government entities, Investment Advisers, Investment Companies, Asset Managers, Pension Funds, Non-Regulated Funds, Regulated Banks and Financial companies including Foreign Banks, Credit Unions, Loan Companies, National Banks and State Banks, Insurance Companies, Broker Dealers and Securities Holding Companies. For more information, view the CD promotion disclosure statement at: http://www.morganstanley.com/wealth/disclosures/pdfs/cd_ds.pdf.

Certificates of Deposit are insured by the FDIC, an independent agency of the U.S. Government, up to a maximum amount of $250,000 (including principal and accrued interest) for all deposits held in the same insurable capacity (e.g. individual account, joint account, IRA etc.) per CD depository. Investors are responsible for monitoring the total amount held with each CD depository. All deposits at a single depository held in the same insurable capacity will be aggregated for purposes of the $250,000 federal deposit insurance limit, including deposits (such as bank accounts) maintained directly with the depository and CDs of the depository held through Morgan Stanley Wealth Management. Certain conditions must be met.  For more information about FDIC insurance, please visit the FDIC website at https://www.fdic.gov/deposit/deposits/

Deposits will be held at Morgan Stanley Bank, N.A. (MSBNA) for a total potential promotional balance of up to $20,000,000 at the Bank.

Certificate of Deposits (CDs) are only available in eligible brokerage accounts. An account at MSSB is either a brokerage account or a managed account. Managed accounts are accounts which are enrolled in certain advisory services offered at MSSB. All other accounts are “Brokerage Accounts.” For more information about managed accounts, please contact your Financial Advisor or Private Wealth Advisor or go to www.morganstanley.com/ADV. 

Under the Savings and Preferred Savings programs (“Savings”), Morgan Stanley Smith Barney LLC makes available interest-bearing FDIC insured deposit accounts(s) at either Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A., each a national bank, Member FDIC, and an affiliate of Morgan Stanley Smith Barney LLC, as selected by the client. Deposits placed in Savings are eligible for FDIC insurance up to $250,000 (including principal and interest) per depositor, per each bank selected by the client for all deposits held in the same insurable capacity (the Maximum Applicable Deposit Insurance Amount), provided that certain conditions are satisfied. All deposits per bank held in the same insurable capacity will be aggregated for purposes of the Maximum Applicable Deposit Insurance Amount, including deposits maintained through the Bank Deposit Program. The client is responsible for monitoring the total amount held with each bank. The bank also reserves the right to offer promotional rates from time to time. Detailed information on federal deposit insurance coverage is available on the FDIC’s website (https://www.fdic.gov/deposit/deposits/ ). The Savings programs are not intended for clients who need to have frequent access to funds and those funds will not be automatically accessed to reduce a debit or margin loan in your brokerage account. Withdrawals from an account in Savings are limited to 10 transactions per calendar month, and any withdrawal or transfer over the limit in any one calendar month will be subject to an excess withdrawal fee.

Morgan Stanley Private Bank, National Association and Morgan Stanley Bank, N.A. are Members FDIC that are primarily regulated by the Office of the Comptroller of the Currency.

Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.

Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY.

CRC#431806  (06/2025)