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Morgan Stanley Finance LLC, fully guaranteed by Morgan Stanley, is offering Variable Income Memory Auto-Callable Notes due 1 Aug 2030 (Series A GMTN) linked to the worst-performing of five U.S. equities: Palantir (PLTR), lululemon (LULU), Affirm (AFRM), Tesla (TSLA) and Marvell (MRVL). Each note has a $1,000 stated principal amount, will be sold at par and will not be listed on any exchange.

Coupon mechanics. Investors receive a variable monthly coupon determined on each observation date:

• Higher coupon: 8.00% p.a. (plus any memory coupons) if every underlier closes 鈮� its 80 % coupon-barrier level.
• Lower coupon: 0.25% p.a. when any underlier is below its barrier.
• Missed higher coupons accrue at 7.75% p.a. and are paid once all underliers are back above their barriers.

Automatic early redemption. Beginning 29 Jul 2026 and monthly thereafter, the notes will be called at par plus the higher coupon (and any unpaid conditional coupons) if every underlier closes 鈮� 100 % of its initial level on a redemption-determination date. Otherwise they remain outstanding.

Maturity payment. If not previously called, holders receive the full $1,000 principal on 1 Aug 2030, plus the applicable coupon for the final period. There is no participation in upside appreciation of the stocks.

Key economic terms. 鈥� Strike/Pricing Date: 29 Jul 2025 鈥� Estimated value on pricing date: 鈮� $948.60 (卤 $55) 鈥� reflects structuring & hedging costs and MS鈥檚 internal funding rate 鈥� CUSIP 61778NMK4 鈥� Minimum denomination: $1,000.

Principal risks.

• Worst-of structure: one weak underlier can trigger the lower coupon for all investors.
• Early-call risk: reinvestment risk if the notes are redeemed in a lower-rate environment.
• Credit risk: all payments depend on Morgan Stanley; MSFL has no independent assets.
• Liquidity risk: no exchange listing; secondary market, if any, will likely trade below par and below estimated value, especially during the six-month amortisation period.
• Valuation gap: original issue price exceeds estimated fair value by ~5 %, creating an immediate mark-to-market drag.
• Tax: expected CPDI treatment requires accrual of taxable interest regardless of cash received; potential 搂871(m) considerations for non-U.S. holders.

The product targets yield-focused investors who are comfortable assuming Morgan Stanley credit exposure, worst-of equity risk and potential illiquidity in exchange for a headline 8 % coupon that may not be consistently earned.

Evogene Ltd. (EVGN) 鈥� Form 6-K filed 8 July 2025

The filing reports that subsidiary Lavie Bio Ltd. has closed its previously announced transaction with Dead Sea Works Ltd. (ICL Group affiliate), transferring 鈥渕ost of the activity鈥� of Lavie Bio to ICL. The company attaches a press release (Exhibit 99.1) for additional information, but no financial terms, consideration amounts, or post-deal collaboration details are disclosed in the body of the 6-K.

Strategically, completion of the sale marks a significant portfolio shift for Evogene, whose computational biology platform has used Lavie Bio as a commercialization channel for ag-biological products. Divestiture may provide fresh capital and external validation while allowing management to redeploy resources toward other growth engines; however, absent numerical data investors cannot yet evaluate the deal鈥檚 effect on liquidity, earnings trajectory, or future royalty streams.

The 6-K contains no updates to revenue guidance, balance-sheet figures, or operational outlook. The document is automatically incorporated into Evogene鈥檚 effective Form F-3 and Form S-8 registration statements cited in the filing.