[FWP] Morgan Stanley Free Writing Prospectus
Morgan Stanley Finance LLC announces Dual Directional Trigger PLUS securities linked to the S&P 500® Futures Excess Return Index (SPXFP), due August 5, 2030. Key features include:
- Leverage factor of 175% to 190% on positive index returns
- Absolute return participation rate of 50% on negative returns above threshold
- Downside threshold level at 60% of initial level
- Estimated value of $954.90 per security
The securities offer enhanced returns for both positive and negative index performance within specified ranges. However, investors face significant risks including no principal protection, credit risk of Morgan Stanley, and potential losses if the index falls below the 60% threshold. The payment at maturity varies based on the underlier's performance, with maximum returns at positive 60% change (paying $2,050) and complete loss possible at -100% change.
The offering is registered under numbers 333-275587 and 333-275587-01, with CUSIP 61778K7H4. Trading will be limited as securities won't be listed on exchanges.
Morgan Stanley Finance LLC annuncia i titoli Dual Directional Trigger PLUS collegati all'indice S&P 500® Futures Excess Return (SPXFP), con scadenza il 5 agosto 2030. Le principali caratteristiche includono:
- Fattore di leva dal 175% al 190% sui rendimenti positivi dell'indice
- Tasso di partecipazione al rendimento assoluto del 50% sui rendimenti negativi sopra la soglia
- Livello soglia di ribasso al 60% del valore iniziale
- Valore stimato di 954,90 $ per titolo
I titoli offrono rendimenti incrementati sia per performance positive che negative dell'indice entro intervalli specifici. Tuttavia, gli investitori affrontano rischi significativi, tra cui assenza di protezione del capitale, rischio di credito di Morgan Stanley e possibili perdite se l'indice scende sotto la soglia del 60%. Il pagamento a scadenza varia in base alla performance dell'underlier, con rendimenti massimi al +60% (pagamento di 2.050 $) e perdita totale possibile al -100%.
L'offerta è registrata con i numeri 333-275587 e 333-275587-01, con CUSIP 61778K7H4. La negoziazione sarà limitata poiché i titoli non saranno quotati in borsa.
Morgan Stanley Finance LLC anuncia los valores Dual Directional Trigger PLUS vinculados al índice S&P 500® Futures Excess Return (SPXFP), con vencimiento el 5 de agosto de 2030. Las características clave incluyen:
- Factor de apalancamiento del 175% al 190% en retornos positivos del índice
- Tasa de participación en retorno absoluto del 50% en retornos negativos por encima del umbral
- Nivel de umbral a la baja al 60% del nivel inicial
- Valor estimado de $954.90 por valor
Los valores ofrecen retornos mejorados tanto para rendimientos positivos como negativos del índice dentro de rangos específicos. Sin embargo, los inversionistas enfrentan riesgos significativos, incluyendo sin protección de capital, riesgo crediticio de Morgan Stanley y posibles pérdidas si el índice cae por debajo del umbral del 60%. El pago al vencimiento varía según el desempeño del subyacente, con retornos máximos en un cambio positivo del 60% (pagando $2,050) y pérdida total posible con un cambio del -100%.
La oferta está registrada bajo los números 333-275587 y 333-275587-01, con CUSIP 61778K7H4. La negociación será limitada ya que los valores no estarán listados en bolsas.
Morgan Stanley Finance LLC는 2030년 8월 5일 만기인 S&P 500® Futures Excess Return Index(SPXFP)에 연동된 Dual Directional Trigger PLUS 증권을 발표했습니다. 주요 특징은 다음과 같습니다:
- 긍정적 지수 수익에 대해 175%에서 190%의 레버리지 비율
- 임계값 이상의 부정적 수익에 대해 50%의 절대 수익 참여율
- 초기 수준의 60%인 하락 임계값
- 증권당 추정 가치 954.90달러
이 증권은 지정된 범위 내에서 지수의 긍정적 및 부정적 성과에 대해 향상된 수익을 제공합니다. 그러나 투자자는 원금 보호 없음, Morgan Stanley의 신용 위험, 그리고 지수가 60% 임계값 아래로 떨어질 경우 발생할 수 있는 손실 등 상당한 위험에 직면해 있습니다. 만기 시 지급액은 기초 자산의 성과에 따라 달라지며, 최대 수익은 +60% 변동 시 2,050달러를 지급하고, -100% 변동 시 전액 손실 가능성이 있습니다.
이 증권은 등록번호 333-275587 및 333-275587-01로 등록되어 있으며, CUSIP 번호는 61778K7H4입니다. 증권은 거래소에 상장되지 않아 거래가 제한됩니다.
Morgan Stanley Finance LLC annonce des titres Dual Directional Trigger PLUS liés à l'indice S&P 500® Futures Excess Return (SPXFP), échéance le 5 août 2030. Les principales caractéristiques comprennent :
- Facteur de levier de 175% à 190% sur les rendements positifs de l'indice
- Taux de participation au rendement absolu de 50% sur les rendements négatifs au-dessus du seuil
- Niveau seuil à la baisse fixé à 60% du niveau initial
- Valeur estimée de 954,90 $ par titre
Ces titres offrent des rendements améliorés pour des performances positives et négatives de l'indice dans des plages spécifiées. Toutefois, les investisseurs s'exposent à des risques importants, notamment absence de protection du capital, risque de crédit de Morgan Stanley, et pertes potentielles si l'indice descend en dessous du seuil de 60%. Le paiement à l'échéance varie selon la performance du sous-jacent, avec un rendement maximal à +60% (paiement de 2 050 $) et une perte totale possible à -100%.
L'offre est enregistrée sous les numéros 333-275587 et 333-275587-01, avec le CUSIP 61778K7H4. La négociation sera limitée car les titres ne seront pas cotés en bourse.
Morgan Stanley Finance LLC gibt die Dual Directional Trigger PLUS Wertpapiere bekannt, die mit dem S&P 500® Futures Excess Return Index (SPXFP) verbunden sind und am 5. August 2030 fällig werden. Wichtige Merkmale sind:
- Hebelfaktor von 175% bis 190% bei positiven Indexrenditen
- Absolute Renditebeteiligungsrate von 50% bei negativen Renditen oberhalb der Schwelle
- Abwärts-Schwellenwert bei 60% des Anfangswerts
- Geschätzter Wert von 954,90 $ pro Wertpapier
Die Wertpapiere bieten verbesserte Renditen sowohl bei positiven als auch negativen Indexentwicklungen innerhalb bestimmter Bereiche. Anleger tragen jedoch erhebliche Risiken, darunter keinen Kapitalschutz, Kreditrisiko von Morgan Stanley und mögliche Verluste, wenn der Index unter die 60%-Schwelle fällt. Die Auszahlung bei Fälligkeit variiert je nach Performance des Basiswerts, mit maximalen Renditen bei +60% Veränderung (Auszahlung von 2.050 $) und totalem Verlust bei -100% Veränderung.
Das Angebot ist unter den Nummern 333-275587 und 333-275587-01 registriert, mit CUSIP 61778K7H4. Der Handel wird eingeschränkt sein, da die Wertpapiere nicht an Börsen notiert werden.
- Offers 175-190% leverage on upside potential of S&P 500 Futures Excess Return Index
- Provides downside protection up to 40% loss with absolute return feature (50% participation rate in negative returns)
- 5-year maturity offers long-term growth potential with defined risk parameters
- No principal protection - complete loss of investment possible if index falls 100%
- Returns capped on downside movements, limiting potential gains in declining markets
- Credit risk exposure to Morgan Stanley Finance LLC and Morgan Stanley as guarantor
- Estimated value ($954.90) is significantly below the issue price, indicating high embedded costs
Morgan Stanley Finance LLC annuncia i titoli Dual Directional Trigger PLUS collegati all'indice S&P 500® Futures Excess Return (SPXFP), con scadenza il 5 agosto 2030. Le principali caratteristiche includono:
- Fattore di leva dal 175% al 190% sui rendimenti positivi dell'indice
- Tasso di partecipazione al rendimento assoluto del 50% sui rendimenti negativi sopra la soglia
- Livello soglia di ribasso al 60% del valore iniziale
- Valore stimato di 954,90 $ per titolo
I titoli offrono rendimenti incrementati sia per performance positive che negative dell'indice entro intervalli specifici. Tuttavia, gli investitori affrontano rischi significativi, tra cui assenza di protezione del capitale, rischio di credito di Morgan Stanley e possibili perdite se l'indice scende sotto la soglia del 60%. Il pagamento a scadenza varia in base alla performance dell'underlier, con rendimenti massimi al +60% (pagamento di 2.050 $) e perdita totale possibile al -100%.
L'offerta è registrata con i numeri 333-275587 e 333-275587-01, con CUSIP 61778K7H4. La negoziazione sarà limitata poiché i titoli non saranno quotati in borsa.
Morgan Stanley Finance LLC anuncia los valores Dual Directional Trigger PLUS vinculados al índice S&P 500® Futures Excess Return (SPXFP), con vencimiento el 5 de agosto de 2030. Las características clave incluyen:
- Factor de apalancamiento del 175% al 190% en retornos positivos del índice
- Tasa de participación en retorno absoluto del 50% en retornos negativos por encima del umbral
- Nivel de umbral a la baja al 60% del nivel inicial
- Valor estimado de $954.90 por valor
Los valores ofrecen retornos mejorados tanto para rendimientos positivos como negativos del índice dentro de rangos específicos. Sin embargo, los inversionistas enfrentan riesgos significativos, incluyendo sin protección de capital, riesgo crediticio de Morgan Stanley y posibles pérdidas si el índice cae por debajo del umbral del 60%. El pago al vencimiento varía según el desempeño del subyacente, con retornos máximos en un cambio positivo del 60% (pagando $2,050) y pérdida total posible con un cambio del -100%.
La oferta está registrada bajo los números 333-275587 y 333-275587-01, con CUSIP 61778K7H4. La negociación será limitada ya que los valores no estarán listados en bolsas.
Morgan Stanley Finance LLC는 2030년 8월 5일 만기인 S&P 500® Futures Excess Return Index(SPXFP)에 연동된 Dual Directional Trigger PLUS 증권을 발표했습니다. 주요 특징은 다음과 같습니다:
- 긍정적 지수 수익에 대해 175%에서 190%의 레버리지 비율
- 임계값 이상의 부정적 수익에 대해 50%의 절대 수익 참여율
- 초기 수준의 60%인 하락 임계값
- 증권당 추정 가치 954.90달러
이 증권은 지정된 범위 내에서 지수의 긍정적 및 부정적 성과에 대해 향상된 수익을 제공합니다. 그러나 투자자는 원금 보호 없음, Morgan Stanley의 신용 위험, 그리고 지수가 60% 임계값 아래로 떨어질 경우 발생할 수 있는 손실 등 상당한 위험에 직면해 있습니다. 만기 시 지급액은 기초 자산의 성과에 따라 달라지며, 최대 수익은 +60% 변동 시 2,050달러를 지급하고, -100% 변동 시 전액 손실 가능성이 있습니다.
이 증권은 등록번호 333-275587 및 333-275587-01로 등록되어 있으며, CUSIP 번호는 61778K7H4입니다. 증권은 거래소에 상장되지 않아 거래가 제한됩니다.
Morgan Stanley Finance LLC annonce des titres Dual Directional Trigger PLUS liés à l'indice S&P 500® Futures Excess Return (SPXFP), échéance le 5 août 2030. Les principales caractéristiques comprennent :
- Facteur de levier de 175% à 190% sur les rendements positifs de l'indice
- Taux de participation au rendement absolu de 50% sur les rendements négatifs au-dessus du seuil
- Niveau seuil à la baisse fixé à 60% du niveau initial
- Valeur estimée de 954,90 $ par titre
Ces titres offrent des rendements améliorés pour des performances positives et négatives de l'indice dans des plages spécifiées. Toutefois, les investisseurs s'exposent à des risques importants, notamment absence de protection du capital, risque de crédit de Morgan Stanley, et pertes potentielles si l'indice descend en dessous du seuil de 60%. Le paiement à l'échéance varie selon la performance du sous-jacent, avec un rendement maximal à +60% (paiement de 2 050 $) et une perte totale possible à -100%.
L'offre est enregistrée sous les numéros 333-275587 et 333-275587-01, avec le CUSIP 61778K7H4. La négociation sera limitée car les titres ne seront pas cotés en bourse.
Morgan Stanley Finance LLC gibt die Dual Directional Trigger PLUS Wertpapiere bekannt, die mit dem S&P 500® Futures Excess Return Index (SPXFP) verbunden sind und am 5. August 2030 fällig werden. Wichtige Merkmale sind:
- Hebelfaktor von 175% bis 190% bei positiven Indexrenditen
- Absolute Renditebeteiligungsrate von 50% bei negativen Renditen oberhalb der Schwelle
- Abwärts-Schwellenwert bei 60% des Anfangswerts
- Geschätzter Wert von 954,90 $ pro Wertpapier
Die Wertpapiere bieten verbesserte Renditen sowohl bei positiven als auch negativen Indexentwicklungen innerhalb bestimmter Bereiche. Anleger tragen jedoch erhebliche Risiken, darunter keinen Kapitalschutz, Kreditrisiko von Morgan Stanley und mögliche Verluste, wenn der Index unter die 60%-Schwelle fällt. Die Auszahlung bei Fälligkeit variiert je nach Performance des Basiswerts, mit maximalen Renditen bei +60% Veränderung (Auszahlung von 2.050 $) und totalem Verlust bei -100% Veränderung.
Das Angebot ist unter den Nummern 333-275587 und 333-275587-01 registriert, mit CUSIP 61778K7H4. Der Handel wird eingeschränkt sein, da die Wertpapiere nicht an Börsen notiert werden.
Free Writing Prospectus to Preliminary Pricing Supplement No. 9,026
Registration Statement Nos. 333-275587; 333-275587-01
Dated July 1, 2025; Filed pursuant to Rule 433
Morgan Stanley
SPXFP Dual Directional 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 |
|
Underlier: |
S&P 500® Futures Excess Return Index (SPXFP) |
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Leverage factor: |
175% to 190% |
|
Absolute return participation rate: |
50% |
|
Downside threshold level: |
60% of the initial level |
|
Pricing date: |
July 31, 2025 |
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Observation date: |
July 31, 2030 |
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Maturity date: |
August 5, 2030 |
|
CUSIP: |
61778K7H4 |
|
Estimated value: |
$954.90 per security, or within $55.00 of that estimate |
|
Preliminary pricing supplement: |
https://www.sec.gov/Archives/edgar/data/895421/000183988225034477/ms9026_424b2-18725.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 securities.
|
% Change in Closing Level of the Underlier |
Payment at Maturity per Security |
|
60.00% |
$2,050.00* |
|
40.00% |
$1,700.00* |
|
20.00% |
$1,350.00* |
|
0.00% |
$1,000.00 |
|
-20.00% |
$1,100.00 |
|
-30.00% |
$1,150.00 |
|
-40.00% |
$1,200.00 |
|
-41.00% |
$590.00 |
|
-60.00% |
$400.00 |
|
-80.00% |
$200.00 |
|
-100.00% |
$0.00 |
*Assumes a leverage factor of 175%
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.
●Any positive return on the securities that is based on the depreciation of the underlier is effectively capped.
●The amount payable on the securities is not linked to the value of the underlier 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.
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 securities.
oSuspensions or disruptions of market trading in futures markets could adversely affect the value of the securities.
oLegal and regulatory changes could adversely affect the return on and value of the securities.
●Adjustments to the S&P 500® Futures Excess Return 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 MS's new Dual Directional Trigger PLUS offering and when does it mature?
What is the estimated value of MS's new Trigger PLUS securities?
What are the key risks of MS's new Trigger PLUS offering?
What is the maximum potential return for MS's Trigger PLUS if the underlier increases by 60%?
What happens to MS's Trigger PLUS investment if the underlier falls below the downside threshold?
