[FWP] Morgan Stanley Free Writing Prospectus
Morgan Stanley Finance has announced 1.5-Year META Trigger Jump Securities tied to Meta Platforms class A common stock, offering a unique investment structure with conditional returns. The securities, priced at $1,000 per unit, will mature on February 3, 2027.
Key features include:
- A fixed upside payment of 32.45% ($324.50) if META stock price is at or above initial price at maturity
- Principal protection if stock declines up to 20% from initial price
- 1:1 downside exposure if stock declines more than 20%, potentially resulting in significant losses
Important risks include no interest payments, limited appreciation potential, and credit risk exposure to Morgan Stanley. The estimated value is $964.90 per security, below the issue price, reflecting structuring costs. The offering begins July 22, 2025, with CUSIP: 61778NCN9.
Morgan Stanley Finance ha annunciato le 1.5-Year META Trigger Jump Securities legate alle azioni ordinarie di classe A di Meta Platforms, offrendo una struttura di investimento unica con rendimenti condizionati. I titoli, quotati a 1.000 dollari per unità, scadranno il 3 febbraio 2027.
Caratteristiche principali includono:
- Un pagamento fisso di 32,45% (324,50 dollari) se il prezzo delle azioni META sarà pari o superiore al prezzo iniziale alla scadenza
- Protezione del capitale se il titolo scende fino al 20% rispetto al prezzo iniziale
- Esposizione 1:1 al ribasso se il titolo scende oltre il 20%, con potenziali perdite significative
Rischi importanti comprendono assenza di pagamenti di interessi, potenziale di apprezzamento limitato e rischio di credito legato a Morgan Stanley. Il valore stimato è di 964,90 dollari per titolo, inferiore al prezzo di emissione, a riflettere i costi di strutturazione. L'offerta inizia il 22 luglio 2025, con CUSIP: 61778NCN9.
Morgan Stanley Finance ha anunciado las 1.5-Year META Trigger Jump Securities vinculadas a las acciones ordinarias clase A de Meta Platforms, ofreciendo una estructura de inversión única con rendimientos condicionados. Los valores, con un precio de $1,000 por unidad, vencerán el 3 de febrero de 2027.
Las características clave incluyen:
- Un pago fijo al alza del 32.45% ($324.50) si el precio de las acciones META está igual o por encima del precio inicial al vencimiento
- Protección del capital si la acción cae hasta un 20% desde el precio inicial
- Exposición a la baja 1:1 si la acción cae más de un 20%, lo que puede resultar en pérdidas significativas
Los riesgos importantes incluyen no pagos de intereses, potencial limitado de apreciación y riesgo crediticio vinculado a Morgan Stanley. El valor estimado es de $964.90 por valor, por debajo del precio de emisión, reflejando los costos de estructuración. La oferta comienza el 22 de julio de 2025, con CUSIP: 61778NCN9.
Morgan Stanley Finance는 Meta Platforms 클래스 A 보통주에 연계된 1.5년 META 트리거 점프 증권을 발표했습니다. 이 증권은 조건부 수익을 제공하는 독특한 투자 구조를 갖추고 있습니다. 단가는 1,000달러이며 만기일은 2027년 2월 3일입니다.
주요 특징은 다음과 같습니다:
- 만기 시 META 주가가 초기 가격 이상일 경우 고정된 32.45%(324.50달러) 상승 지급
- 주가가 초기 가격 대비 최대 20% 하락 시 원금 보호
- 주가가 20% 이상 하락할 경우 1:1 하락 노출로 상당한 손실 가능성
중요 위험 요소로는 이자 지급 없음, 제한된 상승 잠재력, Morgan Stanley에 대한 신용 위험이 포함됩니다. 예상 가치는 증권당 964.90달러로 발행가보다 낮으며 구조화 비용을 반영합니다. 공모는 2025년 7월 22일부터 시작하며 CUSIP 번호는 61778NCN9입니다.
Morgan Stanley Finance a annoncé les 1.5-Year META Trigger Jump Securities liées aux actions ordinaires de classe A de Meta Platforms, offrant une structure d'investissement unique avec des rendements conditionnels. Les titres, au prix de 1 000 $ par unité, arriveront à échéance le 3 février 2027.
Les caractéristiques clés incluent :
- Un paiement à la hausse fixe de 32,45% (324,50 $) si le cours de l'action META est égal ou supérieur au prix initial à l'échéance
- Protection du capital si l'action baisse jusqu'à 20% par rapport au prix initial
- Exposition à la baisse 1:1 si l'action baisse de plus de 20%, pouvant entraîner des pertes importantes
Les risques importants comprennent l'absence de versements d'intérêts, un potentiel d'appréciation limité et le risque de crédit lié à Morgan Stanley. La valeur estimée est de 964,90 $ par titre, inférieure au prix d'émission, reflétant les coûts de structuration. L'offre commence le 22 juillet 2025, avec CUSIP : 61778NCN9.
Morgan Stanley Finance hat die 1,5-Jahres META Trigger Jump Securities angekündigt, die an die Meta Platforms Klasse A Stammaktien gekoppelt sind und eine einzigartige Anlageform mit bedingten Renditen bieten. Die Wertpapiere werden zu 1.000 US-Dollar pro Einheit bepreist und laufen am 3. Februar 2027 ab.
Wesentliche Merkmale sind:
- Eine feste Aufwärtszahlung von 32,45% (324,50 US-Dollar), falls der META-Aktienkurs zum Laufzeitende auf oder über dem Anfangskurs liegt
- Kapitalschutz bei Kursrückgängen bis zu 20% vom Anfangskurs
- 1:1 Abwärtsrisiko bei Kursrückgängen über 20%, was zu erheblichen Verlusten führen kann
Wichtige Risiken umfassen keine Zinszahlungen, begrenztes Aufwärtspotenzial und Kreditrisiko gegenüber Morgan Stanley. Der geschätzte Wert liegt bei 964,90 US-Dollar pro Wertpapier, unter dem Ausgabepreis, was die Strukturierungskosten widerspiegelt. Das Angebot beginnt am 22. Juli 2025, mit CUSIP: 61778NCN9.
- Fixed upside payment of 32.45% if META stock price remains flat or increases at maturity
- Downside protection buffer of 20% provides some cushion against moderate stock price declines
- Principal is fully protected as long as META stock doesn't decline more than 20% from initial price
- Upside potential is capped at 32.45% regardless of how much META stock appreciates
- Potential for significant losses (>20%) if META stock falls below the downside threshold level
- No periodic interest payments during the 1.5-year term
- Estimated value ($964.90) is less than the issue price ($1,000), indicating significant embedded costs
- Credit risk exposure to Morgan Stanley as guarantor could affect actual returns
Morgan Stanley Finance ha annunciato le 1.5-Year META Trigger Jump Securities legate alle azioni ordinarie di classe A di Meta Platforms, offrendo una struttura di investimento unica con rendimenti condizionati. I titoli, quotati a 1.000 dollari per unità, scadranno il 3 febbraio 2027.
Caratteristiche principali includono:
- Un pagamento fisso di 32,45% (324,50 dollari) se il prezzo delle azioni META sarà pari o superiore al prezzo iniziale alla scadenza
- Protezione del capitale se il titolo scende fino al 20% rispetto al prezzo iniziale
- Esposizione 1:1 al ribasso se il titolo scende oltre il 20%, con potenziali perdite significative
Rischi importanti comprendono assenza di pagamenti di interessi, potenziale di apprezzamento limitato e rischio di credito legato a Morgan Stanley. Il valore stimato è di 964,90 dollari per titolo, inferiore al prezzo di emissione, a riflettere i costi di strutturazione. L'offerta inizia il 22 luglio 2025, con CUSIP: 61778NCN9.
Morgan Stanley Finance ha anunciado las 1.5-Year META Trigger Jump Securities vinculadas a las acciones ordinarias clase A de Meta Platforms, ofreciendo una estructura de inversión única con rendimientos condicionados. Los valores, con un precio de $1,000 por unidad, vencerán el 3 de febrero de 2027.
Las características clave incluyen:
- Un pago fijo al alza del 32.45% ($324.50) si el precio de las acciones META está igual o por encima del precio inicial al vencimiento
- Protección del capital si la acción cae hasta un 20% desde el precio inicial
- Exposición a la baja 1:1 si la acción cae más de un 20%, lo que puede resultar en pérdidas significativas
Los riesgos importantes incluyen no pagos de intereses, potencial limitado de apreciación y riesgo crediticio vinculado a Morgan Stanley. El valor estimado es de $964.90 por valor, por debajo del precio de emisión, reflejando los costos de estructuración. La oferta comienza el 22 de julio de 2025, con CUSIP: 61778NCN9.
Morgan Stanley Finance는 Meta Platforms 클래스 A 보통주에 연계된 1.5년 META 트리거 점프 증권을 발표했습니다. 이 증권은 조건부 수익을 제공하는 독특한 투자 구조를 갖추고 있습니다. 단가는 1,000달러이며 만기일은 2027년 2월 3일입니다.
주요 특징은 다음과 같습니다:
- 만기 시 META 주가가 초기 가격 이상일 경우 고정된 32.45%(324.50달러) 상승 지급
- 주가가 초기 가격 대비 최대 20% 하락 시 원금 보호
- 주가가 20% 이상 하락할 경우 1:1 하락 노출로 상당한 손실 가능성
중요 위험 요소로는 이자 지급 없음, 제한된 상승 잠재력, Morgan Stanley에 대한 신용 위험이 포함됩니다. 예상 가치는 증권당 964.90달러로 발행가보다 낮으며 구조화 비용을 반영합니다. 공모는 2025년 7월 22일부터 시작하며 CUSIP 번호는 61778NCN9입니다.
Morgan Stanley Finance a annoncé les 1.5-Year META Trigger Jump Securities liées aux actions ordinaires de classe A de Meta Platforms, offrant une structure d'investissement unique avec des rendements conditionnels. Les titres, au prix de 1 000 $ par unité, arriveront à échéance le 3 février 2027.
Les caractéristiques clés incluent :
- Un paiement à la hausse fixe de 32,45% (324,50 $) si le cours de l'action META est égal ou supérieur au prix initial à l'échéance
- Protection du capital si l'action baisse jusqu'à 20% par rapport au prix initial
- Exposition à la baisse 1:1 si l'action baisse de plus de 20%, pouvant entraîner des pertes importantes
Les risques importants comprennent l'absence de versements d'intérêts, un potentiel d'appréciation limité et le risque de crédit lié à Morgan Stanley. La valeur estimée est de 964,90 $ par titre, inférieure au prix d'émission, reflétant les coûts de structuration. L'offre commence le 22 juillet 2025, avec CUSIP : 61778NCN9.
Morgan Stanley Finance hat die 1,5-Jahres META Trigger Jump Securities angekündigt, die an die Meta Platforms Klasse A Stammaktien gekoppelt sind und eine einzigartige Anlageform mit bedingten Renditen bieten. Die Wertpapiere werden zu 1.000 US-Dollar pro Einheit bepreist und laufen am 3. Februar 2027 ab.
Wesentliche Merkmale sind:
- Eine feste Aufwärtszahlung von 32,45% (324,50 US-Dollar), falls der META-Aktienkurs zum Laufzeitende auf oder über dem Anfangskurs liegt
- Kapitalschutz bei Kursrückgängen bis zu 20% vom Anfangskurs
- 1:1 Abwärtsrisiko bei Kursrückgängen über 20%, was zu erheblichen Verlusten führen kann
Wichtige Risiken umfassen keine Zinszahlungen, begrenztes Aufwärtspotenzial und Kreditrisiko gegenüber Morgan Stanley. Der geschätzte Wert liegt bei 964,90 US-Dollar pro Wertpapier, unter dem Ausgabepreis, was die Strukturierungskosten widerspiegelt. Das Angebot beginnt am 22. Juli 2025, mit CUSIP: 61778NCN9.
Free Writing Prospectus to Preliminary Pricing Supplement No. 9,092
Registration Statement Nos. 333-275587; 333-275587-01
Dated June 25, 2025; Filed pursuant to Rule 433
Morgan Stanley
1.5-Year META Trigger Jump Securities
This document provides a summary of the terms of the securities. Investors must carefully review the accompanying preliminary pricing supplement referenced below, product supplement and prospectus, and the “Risk Considerations” on the following page, prior to making an investment decision.
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Summary Terms |
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Issuer: |
Morgan Stanley Finance LLC |
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Guarantor: |
Morgan Stanley |
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Maturity date: |
February 3, 2027 |
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Underlying stock: |
Meta Platforms, Inc. class A common stock (“META”) |
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Payment at maturity: |
●If the final share price is greater than or equal to the initial share price: $1,000 + the upside payment ●If the final share price is less than the initial share price but greater than or equal to the downside threshold level, meaning the value of the underlying stock has declined by no more than 20% from its initial share price: $1,000 ●If the final share price is less than the downside threshold level, meaning the value of the underlying stock has declined by more than 20% from its initial share price: $1,000 × share performance factor Under these circumstances, the payment at maturity will be significantly less than the stated principal amount of $1,000, and will represent a loss of more than 20%, and possibly all, of your investment. |
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Upside payment: |
$324.50 per security (32.45% of the stated principal amount) |
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Downside threshold level: |
80% of the initial share price |
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Share performance factor: |
final share price / initial share price |
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Initial share price: |
The closing price of the underlying stock on the pricing date |
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Final share price: |
The closing price of the underlying stock on the valuation date times the adjustment factor on such date |
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Valuation date: |
January 29, 2027, subject to postponement for non-trading days and certain market disruption events |
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Adjustment factor: |
1.0, subject to adjustment in the event of certain corporate events affecting the underlying stock |
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Stated principal amount: |
$1,000 per security |
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Issue price: |
$1,000 per security |
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Pricing date: |
July 17, 2025 |
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Original issue date: |
July 22, 2025 (3 business days after the pricing date) |
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CUSIP/ISIN: |
61778NCN9 / US61778NCN93 |
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Preliminary pricing supplement: |
https://www.sec.gov/Archives/edgar/data/895421/000183988225034519/ms9092_424b2-18829.htm |
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1All payments are subject to our credit risk |
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Hypothetical Payout at Maturity1
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Change in Underlying Stock |
Return on the Securities |
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+80.00% |
32.45% |
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+70.00% |
32.45% |
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+60.00% |
32.45% |
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+50.00% |
32.45% |
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+40.00% |
32.45% |
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+32.45% |
32.45% |
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+30.00% |
32.45% |
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+20.00% |
32.45% |
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+10.00% |
32.45% |
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0.00% |
32.45% |
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-5.00% |
0.00% |
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-10.00% |
0.00% |
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-20.00% |
0.00% |
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-21.00% |
-21.00% |
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-30.00% |
-30.00% |
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-40.00% |
-40.00% |
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-50.00% |
-50.00% |
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-60.00% |
-60.00% |
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-80.00% |
-80.00% |
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-100.00% |
-100.00% |
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.
Underlying Stock
For more information about the underlying stock, 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 pay interest or guarantee any return of principal.
●The appreciation potential is fixed and limited.
●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 amount payable on the securities is not linked to the value of the underlying stock at any time other than the valuation date.
●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 $964.90 per security, or within $35.00 of that estimate, and 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.
●Investing in the securities is not equivalent to investing in the class A common stock of Meta Platforms, Inc.
●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.
●The U.S. federal income tax consequences of an investment in the securities are uncertain.
Risks Relating to the Underlying Stock
●No affiliation with Meta Platforms, Inc.
●We may engage in business with or involving Meta Platforms, Inc. without regard to your interests.
●Governmental regulatory actions, such as sanctions, could adversely affect your investment in the securities.
●The antidilution adjustments the calculation agent is required to make do not cover every corporate event that could affect the underlying stock.
Tax Considerations
You should review carefully the discussion in the accompanying preliminary pricing supplement under the caption “Additional Information About the Securities–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 are the key terms of MS's META Trigger Jump Securities offering in June 2025?
What is the maximum potential return on MS's META Trigger Jump Securities?
What is the downside risk for MS's META Trigger Jump Securities?
What is the estimated value of MS's META Trigger Jump Securities versus the issue price?
How will MS calculate the payment at maturity for the META Trigger Jump Securities?
