[FWP] Morgan Stanley Free Writing Prospectus
Morgan Stanley Finance has announced Worst-of SPX and INDU Trigger PLUS securities due August 5, 2030, offering leveraged exposure to the worse performing of the S&P 500 Index and Dow Jones Industrial Average. Key features include:
- Leverage factor of 145% to 160% on positive performance
- Principal protection down to 75% of initial levels (downside threshold)
- Below threshold, investors face 1-for-1 losses based on worst performing index
- Estimated value of $955.00 per security
Notable risks include: no principal guarantee or interest payments, exposure to worst-performing index only, credit risk of Morgan Stanley, and limited secondary market trading. The securities will be priced on July 31, 2025, with final observation on July 31, 2030. Maximum return potential is uncapped but leveraged, while downside risk can result in complete loss of principal.
Morgan Stanley Finance ha annunciato i titoli Worst-of SPX and INDU Trigger PLUS con scadenza il 5 agosto 2030, che offrono un'esposizione con leva al rendimento del peggior indice tra S&P 500 e Dow Jones Industrial Average. Le caratteristiche principali sono:
- Fattore di leva dal 145% al 160% sulla performance positiva
- Protezione del capitale fino al 75% del valore iniziale (soglia di ribasso)
- Sotto la soglia, gli investitori subiscono perdite 1 a 1 basate sull'indice peggiore
- Valore stimato di 955,00 $ per titolo
I rischi principali includono: nessuna garanzia del capitale o pagamento di interessi, esposizione solo all'indice peggiore, rischio di credito di Morgan Stanley e scarsa liquidità sul mercato secondario. I titoli saranno valutati il 31 luglio 2025, con osservazione finale il 31 luglio 2030. Il potenziale di rendimento massimo è illimitato ma con leva, mentre il rischio di ribasso può comportare la perdita totale del capitale.
Morgan Stanley Finance ha anunciado los valores Worst-of SPX and INDU Trigger PLUS con vencimiento el 5 de agosto de 2030, que ofrecen exposición apalancada al peor desempeño entre el índice S&P 500 y el Dow Jones Industrial Average. Las características clave incluyen:
- Factor de apalancamiento del 145% al 160% sobre el rendimiento positivo
- Protección del principal hasta el 75% de los niveles iniciales (umbral de caída)
- Por debajo del umbral, los inversores enfrentan pérdidas 1 a 1 basadas en el índice con peor desempeño
- Valor estimado de $955.00 por título
Los riesgos notables incluyen: sin garantía de principal ni pagos de intereses, exposición solo al índice con peor desempeño, riesgo crediticio de Morgan Stanley y mercado secundario limitado. Los valores se valorarán el 31 de julio de 2025, con observación final el 31 de julio de 2030. El potencial de retorno máximo es ilimitado pero apalancado, mientras que el riesgo a la baja puede resultar en la pérdida total del principal.
모건 스탠리 파이낸스는 2030년 8월 5일 만기인 Worst-of SPX and INDU Trigger PLUS 증권을 발표했으며, 이는 S&P 500 지수와 다우존스 산업평균지수 중 성과가 더 저조한 지수에 레버리지 노출을 제공합니다. 주요 특징은 다음과 같습니다:
- 긍정적 성과에 대해 145%에서 160%까지의 레버리지 비율
- 초기 수준의 75%까지 원금 보호 (하락 임계치)
- 임계치 이하에서는 투자자가 최악의 성과 지수를 기준으로 1대1 손실을 감수
- 증권 당 예상 가치 $955.00
주요 위험으로는 원금 보장 및 이자 지급 없음, 최악 성과 지수에만 노출, 모건 스탠리의 신용 위험, 제한된 2차 시장 거래가 있습니다. 증권 가격은 2025년 7월 31일에 결정되며, 최종 관찰일은 2030년 7월 31일입니다. 최대 수익 잠재력은 무제한이지만 레버리지 효과가 있으며, 하락 위험 시 원금 전액 손실 가능성이 있습니다.
Morgan Stanley Finance a annoncé les titres Worst-of SPX and INDU Trigger PLUS arrivant à échéance le 5 août 2030, offrant une exposition à effet de levier sur la performance la plus faible entre l'indice S&P 500 et le Dow Jones Industrial Average. Les caractéristiques principales sont :
- Facteur de levier de 145% à 160% sur la performance positive
- Protection du capital jusqu'à 75% des niveaux initiaux (seuil de baisse)
- En dessous de ce seuil, les investisseurs subissent des pertes en proportion 1 pour 1 basées sur l'indice le plus faible
- Valeur estimée à 955,00 $ par titre
Les risques notables incluent : absence de garantie du capital ou de paiement d’intérêts, exposition uniquement à l’indice le plus faible, risque de crédit de Morgan Stanley et marché secondaire limité. La valorisation aura lieu le 31 juillet 2025, avec une observation finale le 31 juillet 2030. Le potentiel de rendement maximal est illimité mais avec effet de levier, tandis que le risque de perte peut entraîner une perte totale du capital.
Morgan Stanley Finance hat Wertpapiere Worst-of SPX and INDU Trigger PLUS mit Fälligkeit am 5. August 2030 angekündigt, die eine gehebelte Beteiligung an der schlechter abschneidenden der beiden Indizes S&P 500 und Dow Jones Industrial Average bieten. Wichtige Merkmale sind:
- Hebelfaktor von 145% bis 160% bei positiver Wertentwicklung
- Kapitalschutz bis zu 75% des Anfangswerts (Abschwung-Schwelle)
- Unterhalb der Schwelle tragen Anleger 1-zu-1 Verluste basierend auf dem schlechteren Index
- Geschätzter Wert von 955,00 $ pro Wertpapier
Zu den wesentlichen Risiken zählen: keine Kapitalgarantie oder Zinszahlungen, nur Exponierung gegenüber dem schlechteren Index, Kreditrisiko von Morgan Stanley und eingeschränkter Sekundärmarkt. Die Preisfeststellung erfolgt am 31. Juli 2025, die endgültige Beobachtung am 31. Juli 2030. Das maximale Renditepotenzial ist unbegrenzt, aber gehebelt, während das Abwärtsrisiko zum Totalverlust des Kapitals führen kann.
- Offers 145-160% leverage on potential upside returns for both S&P 500 and Dow Jones indices
- Provides downside protection against losses up to 25% decline in the worst-performing index
- 5-year maturity offers significant time horizon for potential market appreciation
- No principal protection if worst-performing index declines more than 25% at maturity
- No interim interest payments or dividends throughout the 5-year term
- Returns are capped and limited to the leverage factor (max 160%) even in strong bull markets
- Credit risk exposure to Morgan Stanley as the guarantor
- Estimated value ($955) is significantly below the issue price, indicating high embedded costs
Morgan Stanley Finance ha annunciato i titoli Worst-of SPX and INDU Trigger PLUS con scadenza il 5 agosto 2030, che offrono un'esposizione con leva al rendimento del peggior indice tra S&P 500 e Dow Jones Industrial Average. Le caratteristiche principali sono:
- Fattore di leva dal 145% al 160% sulla performance positiva
- Protezione del capitale fino al 75% del valore iniziale (soglia di ribasso)
- Sotto la soglia, gli investitori subiscono perdite 1 a 1 basate sull'indice peggiore
- Valore stimato di 955,00 $ per titolo
I rischi principali includono: nessuna garanzia del capitale o pagamento di interessi, esposizione solo all'indice peggiore, rischio di credito di Morgan Stanley e scarsa liquidità sul mercato secondario. I titoli saranno valutati il 31 luglio 2025, con osservazione finale il 31 luglio 2030. Il potenziale di rendimento massimo è illimitato ma con leva, mentre il rischio di ribasso può comportare la perdita totale del capitale.
Morgan Stanley Finance ha anunciado los valores Worst-of SPX and INDU Trigger PLUS con vencimiento el 5 de agosto de 2030, que ofrecen exposición apalancada al peor desempeño entre el índice S&P 500 y el Dow Jones Industrial Average. Las características clave incluyen:
- Factor de apalancamiento del 145% al 160% sobre el rendimiento positivo
- Protección del principal hasta el 75% de los niveles iniciales (umbral de caída)
- Por debajo del umbral, los inversores enfrentan pérdidas 1 a 1 basadas en el índice con peor desempeño
- Valor estimado de $955.00 por título
Los riesgos notables incluyen: sin garantía de principal ni pagos de intereses, exposición solo al índice con peor desempeño, riesgo crediticio de Morgan Stanley y mercado secundario limitado. Los valores se valorarán el 31 de julio de 2025, con observación final el 31 de julio de 2030. El potencial de retorno máximo es ilimitado pero apalancado, mientras que el riesgo a la baja puede resultar en la pérdida total del principal.
모건 스탠리 파이낸스는 2030년 8월 5일 만기인 Worst-of SPX and INDU Trigger PLUS 증권을 발표했으며, 이는 S&P 500 지수와 다우존스 산업평균지수 중 성과가 더 저조한 지수에 레버리지 노출을 제공합니다. 주요 특징은 다음과 같습니다:
- 긍정적 성과에 대해 145%에서 160%까지의 레버리지 비율
- 초기 수준의 75%까지 원금 보호 (하락 임계치)
- 임계치 이하에서는 투자자가 최악의 성과 지수를 기준으로 1대1 손실을 감수
- 증권 당 예상 가치 $955.00
주요 위험으로는 원금 보장 및 이자 지급 없음, 최악 성과 지수에만 노출, 모건 스탠리의 신용 위험, 제한된 2차 시장 거래가 있습니다. 증권 가격은 2025년 7월 31일에 결정되며, 최종 관찰일은 2030년 7월 31일입니다. 최대 수익 잠재력은 무제한이지만 레버리지 효과가 있으며, 하락 위험 시 원금 전액 손실 가능성이 있습니다.
Morgan Stanley Finance a annoncé les titres Worst-of SPX and INDU Trigger PLUS arrivant à échéance le 5 août 2030, offrant une exposition à effet de levier sur la performance la plus faible entre l'indice S&P 500 et le Dow Jones Industrial Average. Les caractéristiques principales sont :
- Facteur de levier de 145% à 160% sur la performance positive
- Protection du capital jusqu'à 75% des niveaux initiaux (seuil de baisse)
- En dessous de ce seuil, les investisseurs subissent des pertes en proportion 1 pour 1 basées sur l'indice le plus faible
- Valeur estimée à 955,00 $ par titre
Les risques notables incluent : absence de garantie du capital ou de paiement d’intérêts, exposition uniquement à l’indice le plus faible, risque de crédit de Morgan Stanley et marché secondaire limité. La valorisation aura lieu le 31 juillet 2025, avec une observation finale le 31 juillet 2030. Le potentiel de rendement maximal est illimité mais avec effet de levier, tandis que le risque de perte peut entraîner une perte totale du capital.
Morgan Stanley Finance hat Wertpapiere Worst-of SPX and INDU Trigger PLUS mit Fälligkeit am 5. August 2030 angekündigt, die eine gehebelte Beteiligung an der schlechter abschneidenden der beiden Indizes S&P 500 und Dow Jones Industrial Average bieten. Wichtige Merkmale sind:
- Hebelfaktor von 145% bis 160% bei positiver Wertentwicklung
- Kapitalschutz bis zu 75% des Anfangswerts (Abschwung-Schwelle)
- Unterhalb der Schwelle tragen Anleger 1-zu-1 Verluste basierend auf dem schlechteren Index
- Geschätzter Wert von 955,00 $ pro Wertpapier
Zu den wesentlichen Risiken zählen: keine Kapitalgarantie oder Zinszahlungen, nur Exponierung gegenüber dem schlechteren Index, Kreditrisiko von Morgan Stanley und eingeschränkter Sekundärmarkt. Die Preisfeststellung erfolgt am 31. Juli 2025, die endgültige Beobachtung am 31. Juli 2030. Das maximale Renditepotenzial ist unbegrenzt, aber gehebelt, während das Abwärtsrisiko zum Totalverlust des Kapitals führen kann.
Free Writing Prospectus to Preliminary Pricing Supplement No. 9,027
Registration Statement Nos. 333-275587; 333-275587-01
Dated July 1, 2025; Filed pursuant to Rule 433
Morgan Stanley
Worst-of SPX and INDU Trigger PLUS due August 5, 2030
This document provides a summary of the terms of the securities. Investors must carefully review the accompanying preliminary pricing supplement referenced below, product supplement, index supplement and prospectus, and the “Risk Considerations” on the following page, prior to making an investment decision.
|
Terms |
|
|
Issuer: |
Morgan Stanley Finance LLC |
|
Guarantor: |
Morgan Stanley |
|
Underliers: |
S&P 500® Index (SPX) and Dow Jones Industrial AverageSM (INDU) |
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Leverage factor: |
145% to 160% |
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Downside threshold level: |
75% of the initial level for each underlier |
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Pricing date: |
July 31, 2025 |
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Observation date: |
July 31, 2030 |
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Maturity date: |
August 5, 2030 |
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CUSIP: |
61778K7J0 |
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Estimated value: |
$955.00 per security, or within $55.00 of that estimate |
|
Preliminary pricing supplement: |
https://www.sec.gov/Archives/edgar/data/895421/000183988225034326/ms9027_424b2-18686.htm |
1All payments are subject to our credit risk
Hypothetical Payment at Maturity1
The payment at maturity will be based solely on the performance of the worst performing underlier, which could be either underlier. The payoff diagram and table below illustrate the payment at maturity for a range of hypothetical performances of the worst performing underlier over the term of the securities.
|
% Change in Closing Level of the Worst Performing Underlier |
Payment at Maturity per Security |
|
+60.00% |
$1,870.00* |
|
+40.00% |
$1,580.00* |
|
+20.00% |
$1,290.00* |
|
0.00% |
$1,000.00 |
|
-20.00% |
$1,000.00 |
|
-25.00% |
$1,000.00 |
|
-26.00% |
$740.00 |
|
-40.00% |
$600.00 |
|
-60.00% |
$400.00 |
|
-80.00% |
$200.00 |
|
-100.00% |
$0.00 |
*Assumes a leverage factor of 145%
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-584-6837.
Underlier(s)
For more information about the underlier(s), including historical performance information, see the accompanying preliminary pricing supplement.
Risk Considerations
The risks set forth below are discussed in more detail in the “Risk Factors” section in the accompanying preliminary pricing supplement. Please review those risk factors carefully prior to making an investment decision.
Risks Relating to an Investment in the Securities
●The securities do not guarantee the return of any principal and do not pay interest.
●The amount payable on the securities is not linked to the values of the underliers at any time other than the observation date.
●The market price of the securities may be influenced by many unpredictable factors.
●The securities are subject to our credit risk, and any actual or anticipated changes to our credit ratings or credit spreads may adversely affect the market value of the securities.
●As a finance subsidiary, MSFL has no independent operations and will have no independent assets.
●The rate we are willing to pay for securities of this type, maturity and issuance size is likely to be lower than the rate implied by our secondary market credit spreads and advantageous to us. Both the lower rate and the inclusion of costs associated with issuing, selling, structuring and hedging the securities in the original issue price reduce the economic terms of the securities, cause the estimated value of the securities to be less than the original issue price and will adversely affect secondary market prices.
●The estimated value of the securities is determined by reference to our pricing and valuation models, which may differ from those of other dealers and is not a maximum or minimum secondary market price.
●The securities will not be listed on any securities exchange and secondary trading may be limited.
●As discussed in more detail in the accompanying product supplement, investing in the securities is not equivalent to investing in the underlier(s).
●The U.S. federal income tax consequences of an investment in the securities are uncertain.
Risks Relating to the Underlier(s)
●Because your return on the securities will depend upon the performance of the underlier(s), the securities are subject to the following risk(s), as discussed in more detail in the accompanying product supplement.
oYou are exposed to the price risk of each underlier.
oBecause the securities are linked to the performance of the worst performing underlier, you are exposed to a greater risk of not receiving a positive return on the securities and/or sustaining a significant loss on your investment than if the securities were linked to just one underlier.
oAdjustments to an underlying index could adversely affect the value of the securities.
Risks Relating to Conflicts of Interest
●The calculation agent, which is a subsidiary of Morgan Stanley and an affiliate of MSFL, will make determinations with respect to the securities.
●Hedging and trading activity by our affiliates could potentially adversely affect the value of the securities.
Tax Considerations
You should review carefully the discussion in the accompanying preliminary pricing supplement under the caption “Additional Information About the Securities– United States federal income tax considerations” concerning the U.S. federal income tax consequences of an investment in the securities, and you should consult your tax adviser.
FAQ
What is the maturity date and leverage factor for MS's Trigger PLUS securities filed on June 28, 2025?
What is the downside protection threshold for MS's new Trigger PLUS offering?
What is the estimated value per security for MS's Trigger PLUS due 2030?
How is the payment at maturity calculated for MS's Worst-of SPX and INDU Trigger PLUS?
What are the key risks of investing in MS's Trigger PLUS securities filed in June 2025?
