[FWP] Morgan Stanley Free Writing Prospectus
Morgan Stanley Finance has announced Market-Linked Notes due August 5, 2030, tied to the S&P 500® Futures Excess Return Index (SPXFP). Key features include:
- Participation rate of 128% to 133% in the index's positive performance
- Principal protection against negative index performance
- Estimated value of $954.30 per note
- 5-year maturity (2025-2030)
The notes offer enhanced upside potential while maintaining principal protection, with payments at maturity ranging from $1,000 (minimum) to potentially higher returns based on index performance. For example, a 40% index increase would yield a 51.2% return (at 128% participation rate).
Key risks include credit risk of Morgan Stanley, no interest payments, limited secondary market trading, and potential tax implications prior to maturity. The notes' value may be affected by market factors, and the final payment depends solely on the index's performance at maturity.
Morgan Stanley Finance ha annunciato Note Collegate al Mercato con scadenza il 5 agosto 2030, legate all'indice S&P 500® Futures Excess Return (SPXFP). Caratteristiche principali:
- Percentuale di partecipazione dal 128% al 133% alla performance positiva dell'indice
- Protezione del capitale contro performance negative dell'indice
- Valore stimato di 954,30 $ per nota
- Scadenza a 5 anni (2025-2030)
Le note offrono un potenziale di rendimento aumentato mantenendo la protezione del capitale, con pagamenti a scadenza che variano da un minimo di 1.000 $ a rendimenti potenzialmente superiori in base alla performance dell'indice. Ad esempio, un aumento del 40% dell'indice comporterebbe un rendimento del 51,2% (con tasso di partecipazione al 128%).
Rischi principali includono il rischio di credito di Morgan Stanley, l'assenza di pagamenti di interessi, la scarsa liquidità sul mercato secondario e possibili implicazioni fiscali prima della scadenza. Il valore delle note può essere influenzato da fattori di mercato e il pagamento finale dipende esclusivamente dalla performance dell'indice alla scadenza.
Morgan Stanley Finance ha anunciado Notas Vinculadas al Mercado con vencimiento el 5 de agosto de 2030, vinculadas al índice S&P 500® Futures Excess Return (SPXFP). Características clave:
- Tasa de participación del 128% al 133% en el rendimiento positivo del índice
- Protección del capital frente a rendimientos negativos del índice
- Valor estimado de 954,30 $ por nota
- Vencimiento a 5 años (2025-2030)
Las notas ofrecen un potencial de rendimiento mejorado manteniendo la protección del capital, con pagos al vencimiento que van desde un mínimo de 1.000 $ hasta rendimientos potencialmente mayores según el desempeño del índice. Por ejemplo, un aumento del 40% en el índice generaría un rendimiento del 51,2% (con tasa de participación del 128%).
Riesgos clave incluyen el riesgo crediticio de Morgan Stanley, la ausencia de pagos de intereses, la limitada negociación en el mercado secundario y posibles implicaciones fiscales antes del vencimiento. El valor de las notas puede verse afectado por factores del mercado y el pago final depende únicamente del desempeño del índice al vencimiento.
모건 스탠리 파이낸스는 2030년 8월 5일 만기인 S&P 500® 선물 초과 수익 지수(SPXFP)에 연동된 시장 연계 노트를 발표했습니다. 주요 특징은 다음과 같습니다:
- 지수의 긍정적 성과에 대해 128%에서 133%의 참여율
- 지수 성과가 부정적일 경우 원금 보호
- 노트당 예상 가치 954.30 달러
- 5년 만기 (2025-2030)
이 노트는 원금 보호를 유지하면서 상승 잠재력을 높여주며, 만기 시 지수 성과에 따라 최소 1,000달러에서 더 높은 수익을 지급할 수 있습니다. 예를 들어, 지수가 40% 상승할 경우 51.2% 수익률(128% 참여율 기준)을 기대할 수 있습니다.
주요 위험으로는 모건 스탠리의 신용 위험, 이자 지급 없음, 제한된 2차 시장 거래, 만기 전 잠재적 세금 문제 등이 있으며, 노트의 가치는 시장 요인에 따라 변동될 수 있고 최종 지급액은 만기 시 지수 성과에 전적으로 의존합니다.
Morgan Stanley Finance a annoncé des Notes Indexées au Marché arrivant à échéance le 5 août 2030, liées à l'indice S&P 500® Futures Excess Return (SPXFP). Caractéristiques clés :
- Taux de participation de 128 % à 133 % à la performance positive de l'indice
- Protection du capital contre une performance négative de l'indice
- Valeur estimée à 954,30 $ par note
- Échéance de 5 ans (2025-2030)
Ces notes offrent un potentiel de hausse accru tout en garantissant la protection du capital, avec des paiements à l’échéance allant d’un minimum de 1 000 $ à des rendements potentiellement plus élevés selon la performance de l’indice. Par exemple, une hausse de 40 % de l’indice générerait un rendement de 51,2 % (taux de participation de 128 %).
Risques principaux : risque de crédit de Morgan Stanley, absence de paiements d’intérêts, liquidité limitée sur le marché secondaire, et possibles implications fiscales avant l’échéance. La valeur des notes peut être affectée par les conditions du marché, et le paiement final dépend uniquement de la performance de l’indice à l’échéance.
Morgan Stanley Finance hat marktgebundene Notes mit Fälligkeit am 5. August 2030 angekündigt, die an den S&P 500® Futures Excess Return Index (SPXFP) gekoppelt sind. Wesentliche Merkmale sind:
- Partizipationsrate von 128% bis 133% an der positiven Indexentwicklung
- Kapitalschutz gegen negative Indexentwicklung
- Geschätzter Wert von 954,30 $ pro Note
- 5-jährige Laufzeit (2025-2030)
Die Notes bieten ein erhöhtes Aufwärtspotenzial bei gleichzeitigem Kapitalschutz, mit Auszahlungen bei Fälligkeit von mindestens 1.000 $ bis hin zu potenziell höheren Renditen basierend auf der Indexentwicklung. Beispielsweise würde eine 40%ige Indexsteigerung eine Rendite von 51,2% (bei 128% Partizipation) bedeuten.
Wesentliche Risiken umfassen das Kreditrisiko von Morgan Stanley, keine Zinszahlungen, begrenzten Handel am Sekundärmarkt sowie mögliche steuerliche Auswirkungen vor Fälligkeit. Der Wert der Notes kann durch Marktbedingungen beeinflusst werden, und die endgültige Auszahlung hängt ausschließlich von der Indexentwicklung bei Fälligkeit ab.
- Attractive upside potential with 128-133% participation rate in S&P 500 Futures index gains
- Principal protection feature guarantees return of $1,000 per note at maturity regardless of index performance
- 5-year maturity provides meaningful time horizon for potential market appreciation
- Notes' estimated value ($954.30) is significantly below the issue price, indicating substantial embedded costs
- No interest payments over the 5-year term, resulting in opportunity cost of capital
- Credit risk exposure to Morgan Stanley with no independent assets backing the notes
- Limited secondary market liquidity due to no exchange listing
- Complex tax implications may require recognizing income prior to maturity
Morgan Stanley Finance ha annunciato Note Collegate al Mercato con scadenza il 5 agosto 2030, legate all'indice S&P 500® Futures Excess Return (SPXFP). Caratteristiche principali:
- Percentuale di partecipazione dal 128% al 133% alla performance positiva dell'indice
- Protezione del capitale contro performance negative dell'indice
- Valore stimato di 954,30 $ per nota
- Scadenza a 5 anni (2025-2030)
Le note offrono un potenziale di rendimento aumentato mantenendo la protezione del capitale, con pagamenti a scadenza che variano da un minimo di 1.000 $ a rendimenti potenzialmente superiori in base alla performance dell'indice. Ad esempio, un aumento del 40% dell'indice comporterebbe un rendimento del 51,2% (con tasso di partecipazione al 128%).
Rischi principali includono il rischio di credito di Morgan Stanley, l'assenza di pagamenti di interessi, la scarsa liquidità sul mercato secondario e possibili implicazioni fiscali prima della scadenza. Il valore delle note può essere influenzato da fattori di mercato e il pagamento finale dipende esclusivamente dalla performance dell'indice alla scadenza.
Morgan Stanley Finance ha anunciado Notas Vinculadas al Mercado con vencimiento el 5 de agosto de 2030, vinculadas al índice S&P 500® Futures Excess Return (SPXFP). Características clave:
- Tasa de participación del 128% al 133% en el rendimiento positivo del índice
- Protección del capital frente a rendimientos negativos del índice
- Valor estimado de 954,30 $ por nota
- Vencimiento a 5 años (2025-2030)
Las notas ofrecen un potencial de rendimiento mejorado manteniendo la protección del capital, con pagos al vencimiento que van desde un mínimo de 1.000 $ hasta rendimientos potencialmente mayores según el desempeño del índice. Por ejemplo, un aumento del 40% en el índice generaría un rendimiento del 51,2% (con tasa de participación del 128%).
Riesgos clave incluyen el riesgo crediticio de Morgan Stanley, la ausencia de pagos de intereses, la limitada negociación en el mercado secundario y posibles implicaciones fiscales antes del vencimiento. El valor de las notas puede verse afectado por factores del mercado y el pago final depende únicamente del desempeño del índice al vencimiento.
모건 스탠리 파이낸스는 2030년 8월 5일 만기인 S&P 500® 선물 초과 수익 지수(SPXFP)에 연동된 시장 연계 노트를 발표했습니다. 주요 특징은 다음과 같습니다:
- 지수의 긍정적 성과에 대해 128%에서 133%의 참여율
- 지수 성과가 부정적일 경우 원금 보호
- 노트당 예상 가치 954.30 달러
- 5년 만기 (2025-2030)
이 노트는 원금 보호를 유지하면서 상승 잠재력을 높여주며, 만기 시 지수 성과에 따라 최소 1,000달러에서 더 높은 수익을 지급할 수 있습니다. 예를 들어, 지수가 40% 상승할 경우 51.2% 수익률(128% 참여율 기준)을 기대할 수 있습니다.
주요 위험으로는 모건 스탠리의 신용 위험, 이자 지급 없음, 제한된 2차 시장 거래, 만기 전 잠재적 세금 문제 등이 있으며, 노트의 가치는 시장 요인에 따라 변동될 수 있고 최종 지급액은 만기 시 지수 성과에 전적으로 의존합니다.
Morgan Stanley Finance a annoncé des Notes Indexées au Marché arrivant à échéance le 5 août 2030, liées à l'indice S&P 500® Futures Excess Return (SPXFP). Caractéristiques clés :
- Taux de participation de 128 % à 133 % à la performance positive de l'indice
- Protection du capital contre une performance négative de l'indice
- Valeur estimée à 954,30 $ par note
- Échéance de 5 ans (2025-2030)
Ces notes offrent un potentiel de hausse accru tout en garantissant la protection du capital, avec des paiements à l’échéance allant d’un minimum de 1 000 $ à des rendements potentiellement plus élevés selon la performance de l’indice. Par exemple, une hausse de 40 % de l’indice générerait un rendement de 51,2 % (taux de participation de 128 %).
Risques principaux : risque de crédit de Morgan Stanley, absence de paiements d’intérêts, liquidité limitée sur le marché secondaire, et possibles implications fiscales avant l’échéance. La valeur des notes peut être affectée par les conditions du marché, et le paiement final dépend uniquement de la performance de l’indice à l’échéance.
Morgan Stanley Finance hat marktgebundene Notes mit Fälligkeit am 5. August 2030 angekündigt, die an den S&P 500® Futures Excess Return Index (SPXFP) gekoppelt sind. Wesentliche Merkmale sind:
- Partizipationsrate von 128% bis 133% an der positiven Indexentwicklung
- Kapitalschutz gegen negative Indexentwicklung
- Geschätzter Wert von 954,30 $ pro Note
- 5-jährige Laufzeit (2025-2030)
Die Notes bieten ein erhöhtes Aufwärtspotenzial bei gleichzeitigem Kapitalschutz, mit Auszahlungen bei Fälligkeit von mindestens 1.000 $ bis hin zu potenziell höheren Renditen basierend auf der Indexentwicklung. Beispielsweise würde eine 40%ige Indexsteigerung eine Rendite von 51,2% (bei 128% Partizipation) bedeuten.
Wesentliche Risiken umfassen das Kreditrisiko von Morgan Stanley, keine Zinszahlungen, begrenzten Handel am Sekundärmarkt sowie mögliche steuerliche Auswirkungen vor Fälligkeit. Der Wert der Notes kann durch Marktbedingungen beeinflusst werden, und die endgültige Auszahlung hängt ausschließlich von der Indexentwicklung bei Fälligkeit ab.
Free Writing Prospectus to Preliminary Pricing Supplement No. 9,044
Registration Statement Nos. 333-275587; 333-275587-01
Dated July 1, 2025; Filed pursuant to Rule 433
Morgan Stanley
PXFP Market-Linked Notes due August 5, 2030
This document provides a summary of the terms of the notes. 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 |
|
Underlier: |
S&P 500® Futures Excess Return Index (SPXFP) |
|
Participation rate: |
128% to 133% |
|
Pricing date: |
July 31, 2025 |
|
Observation date: |
July 31, 2030 |
|
Maturity date: |
August 5, 2030 |
|
CUSIP: |
61778NAM3 |
|
Estimated value: |
$954.30 per note, or within $55.00 of that estimate |
|
Preliminary pricing supplement: |
https://www.sec.gov/Archives/edgar/data/895421/000183988225034662/ms9044_424b2-18911.htm |
1All payments are subject to our credit risk
Hypothetical Payment at Maturity1
The payoff diagram and table below illustrate the payment at maturity for a range of hypothetical performances of the underlier over the term of the notes.
|
% Change in Closing Level of the Underlier |
Payment at Maturity per Note |
|
+60.00% |
$1,768.00* |
|
+40.00% |
$1,512.00* |
|
+20.00% |
$1,256.00* |
|
0.00% |
$1,000.00 |
|
-20.00% |
$1,000.00 |
|
-40.00% |
$1,000.00 |
|
-60.00% |
$1,000.00 |
|
-80.00% |
$1,000.00 |
|
-100.00% |
$1,000.00 |
|
*Assumes a participation rate of 128% |
|
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 Notes
●The notes may not pay more than the stated principal amount at maturity.
●The notes do not pay interest.
●The amount payable on the notes is not linked to the value of the underlier at any time other than the observation date.
●The market price of the notes may be influenced by many unpredictable factors.
●The notes 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 notes.
●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 notes in the original issue price reduce the economic terms of the notes, cause the estimated value of the notes to be less than the original issue price and will adversely affect secondary market prices.
●The estimated value of the notes 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 notes 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 notes is not equivalent to investing in the underlier(s).
●You may be required to recognize taxable income on the notes prior to maturity.
Risks Relating to the Underlier(s)
●Because your return on the notes will depend upon the performance of the underlier(s), the notes are subject to the following risk(s), as discussed in more detail in the accompanying product supplement.
oHigher future prices of a futures contract to which the underlier is linked relative to its current prices may adversely affect the value of the underlier and the value of the notes.
oSuspensions or disruptions of market trading in futures markets could adversely affect the value of the notes.
oLegal and regulatory changes could adversely affect the return on and value of the notes.
●Adjustments to the S&P 500® Futures Excess Return Index could adversely affect the value of the notes.
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 notes.
●Hedging and trading activity by our affiliates could potentially adversely affect the value of the notes.
Tax Considerations
You should review carefully the discussion in the accompanying preliminary pricing supplement under the caption “Additional Information About the Notes–United States federal income tax considerations” concerning the U.S. federal income tax consequences of an investment in the notes, and you should consult your tax adviser.
FAQ
What is the maturity date for MS's new Market-Linked Notes (CUSIP: 61778NAM3)?
What is the participation rate for MS's new S&P 500 Futures-linked notes?
What is the estimated value per note for MS's July 2025 Market-Linked Notes?
What happens to MS's Market-Linked Notes if the underlying index declines?
What is the maximum potential return for MS's new Market-Linked Notes?
