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[Form 4] Simon Property Group, Inc. Insider Trading Activity

Filing Impact
(Low)
Filing Sentiment
(Positive)
Form Type
4
Rhea-AI Filing Summary

Morgan Stanley Finance LLC, guaranteed by Morgan Stanley, intends to issue Fixed-Income Buffered Auto-Callable Securities linked to the S&P 500 Futures 40% Intraday 4% Decrement VT Index (ticker SPXF40D4). The securities offer a fixed coupon of 7.00%-8.00% per annum paid monthly and mature on 1 August 2030, unless automatically redeemed earlier.

Auto-call feature: beginning 12 months after issuance and on each monthly determination date thereafter, the notes will be redeemed at par (plus the coupon) if the index closes at or above its initial level (100%). Once called, no further payments are due.

Downside protection: at maturity, investors receive full principal repayment so long as the index has not fallen by more than the 15% buffer. Below this threshold, repayment is reduced 1-for-1, exposing holders to up to an 85% maximum loss.

Pricing details: • Pricing date: 28 July 2025 • Settlement/Maturity: 1 Aug 2030 • Estimated value: $920.10 (± $55) per $1,000 face, reflecting issuance costs and Morgan Stanley’s internal models • CUSIP: 61778NBH3

Key risks called out by the issuer

  • No participation in any index appreciation beyond par.
  • Potential early redemption limits total coupon receipts.
  • Full exposure to Morgan Stanley credit risk; MSFL has no independent assets.
  • Index-specific risks: 4% annual decrement drag, leverage, short operating history (inception 30 Aug 2024).

Tax treatment and other detailed structural provisions are summarized in the preliminary pricing supplement (SEC link provided) and should be reviewed before investing.

Morgan Stanley Finance LLC, garantita da Morgan Stanley, intende emettere titoli autocallable a reddito fisso con protezione buffer legati all'indice S&P 500 Futures 40% Intraday 4% Decrement VT (ticker SPXF40D4). I titoli offrono un cedola fissa annua tra il 7,00% e l'8,00%, pagata mensilmente, e scadono il 1 agosto 2030, salvo un rimborso anticipato automatico.

Caratteristica autocall: a partire da 12 mesi dall'emissione e in ogni data di determinazione mensile successiva, i titoli saranno rimborsati a valore nominale (più cedola) se l'indice chiude pari o superiore al livello iniziale (100%). Una volta richiamati, non sono dovuti ulteriori pagamenti.

Protezione al ribasso: a scadenza, gli investitori ricevono il rimborso integrale del capitale se l'indice non è sceso oltre il buffer del 15%. Sotto questa soglia, il rimborso viene ridotto in proporzione 1 a 1, esponendo i detentori a una perdita massima dell'85%.

Dettagli di prezzo: • Data di prezzo: 28 luglio 2025 • Regolamento/Scadenza: 1 agosto 2030 • Valore stimato: 920,10$ (± 55$) per 1.000$ di valore nominale, riflettendo i costi di emissione e i modelli interni di Morgan Stanley • CUSIP: 61778NBH3

Principali rischi evidenziati dall'emittente

  • Nessuna partecipazione all'apprezzamento dell'indice oltre il valore nominale.
  • Il rimborso anticipato può limitare il totale delle cedole percepite.
  • Strumento non quotato con liquidità secondaria limitata.
  • Esposizione completa al rischio di credito di Morgan Stanley; MSFL non possiede asset indipendenti.
  • Rischi specifici dell'indice: decremento annuo del 4%, leva finanziaria, breve storia operativa (inizio 30 agosto 2024).

Trattamento fiscale e altre disposizioni strutturali dettagliate sono riassunte nel supplemento preliminare di prezzo (link SEC fornito) e devono essere consultate prima di investire.

Morgan Stanley Finance LLC, garantizado por Morgan Stanley, tiene la intención de emitir Valores Autollamables con protección buffer y renta fija vinculados al índice S&P 500 Futures 40% Intraday 4% Decrement VT (ticker SPXF40D4). Los valores ofrecen un cupón fijo anual entre 7,00% y 8,00%, pagado mensualmente, y vencen el 1 de agosto de 2030, salvo redención anticipada automática.

Función autollamable: a partir de 12 meses desde la emisión y en cada fecha mensual de determinación, los bonos se redimirán al valor nominal (más el cupón) si el índice cierra igual o por encima del nivel inicial (100%). Una vez llamados, no se deben pagos adicionales.

Protección a la baja: al vencimiento, los inversores reciben el reembolso total del principal siempre que el índice no haya caído más allá del buffer del 15%. Por debajo de este umbral, el reembolso se reduce 1 a 1, exponiendo a los tenedores a una pérdida máxima del 85%.

Detalles de precio: • Fecha de precio: 28 de julio de 2025 • Liquidación/Vencimiento: 1 de agosto de 2030 • Valor estimado: $920.10 (± $55) por cada $1,000 nominales, reflejando costos de emisión y modelos internos de Morgan Stanley • CUSIP: 61778NBH3

Principales riesgos destacados por el emisor

  • No participa en apreciación del índice más allá del valor nominal.
  • La redención anticipada puede limitar el total de cupones recibidos.
  • Valor no listado con liquidez secundaria limitada.
  • Exposición total al riesgo crediticio de Morgan Stanley; MSFL no posee activos independientes.
  • Riesgos específicos del índice: decremento anual del 4%, apalancamiento, corta historia operativa (inicio 30 de agosto de 2024).

Tratamiento fiscal y otras disposiciones estructurales detalladas se resumen en el suplemento preliminar de precios (enlace SEC proporcionado) y deben revisarse antes de invertir.

Morgan Stanley Finance LLC는 Morgan Stanley가 보증하며, S&P 500 Futures 40% Intraday 4% Decrement VT 지수(티커 SPXF40D4)에 연계된 고정 수익 버퍼형 자동 상환 증권을 발행할 예정입니다. 이 증권은 연 7.00%~8.00%의 고정 쿠폰을 매월 지급하며, 2030년 8월 1일에 만기되며, 조기 자동 상환되지 않는 한 만기일까지 유지됩니다.

자동 상환 기능: 발행 12개월 후부터 매월 결정일마다 지수가 최초 수준(100%) 이상으로 마감되면 원금과 쿠폰을 포함해 액면가로 상환됩니다. 상환 시 추가 지급은 없습니다.

하방 보호: 만기 시 지수가 15% 버퍼 이상 하락하지 않았다면 원금 전액을 상환받습니다. 이 임계값 아래에서는 원금이 1대1 비율로 감소하며 최대 85% 손실에 노출됩니다.

가격 세부사항: • 가격 결정일: 2025년 7월 28일 • 결제/만기: 2030년 8월 1일 • 예상 가치: $920.10 (± $55) / $1,000 액면가 기준, 발행 비용 및 Morgan Stanley 내부 모델 반영 • CUSIP: 61778NBH3

발행사가 지적한 주요 위험

  • 지수 상승에 따른 추가 수익 참여 없음.
  • 조기 상환 시 전체 쿠폰 수령 제한 가능성.
  • 비상장 증권으로 2차 시장 유동성 제한.
  • Morgan Stanley 신용 위험에 전적으로 노출; MSFL은 독립 자산 없음.
  • 지수 관련 위험: 연 4% 감소 효과, 레버리지, 짧은 운용 이력(2024년 8월 30일 시작).

세금 처리 및 기타 상세 구조 조항은 예비 가격 보충자료(SEC 링크 포함)에 요약되어 있으며, 투자 전 반드시 검토해야 합니다.

Morgan Stanley Finance LLC, garantie par Morgan Stanley, prévoit d'émettre des titres à revenu fixe autocallables avec protection tampon liés à l'indice S&P 500 Futures 40% Intraday 4% Decrement VT (symbole SPXF40D4). Ces titres offrent un coupon fixe annuel de 7,00% à 8,00%, versé mensuellement, et arrivent à échéance le 1er août 2030, sauf remboursement anticipé automatique.

Caractéristique autocall : à partir de 12 mois après l'émission et à chaque date de détermination mensuelle suivante, les titres seront remboursés au pair (plus le coupon) si l'indice clôture au niveau initial (100%) ou au-dessus. Une fois rappelés, aucun paiement supplémentaire n'est dû.

Protection à la baisse : à l'échéance, les investisseurs reçoivent le remboursement intégral du capital tant que l'indice n'a pas chuté de plus de 15%. En dessous de ce seuil, le remboursement est réduit à raison de 1 pour 1, exposant les détenteurs à une perte maximale de 85%.

Détails de tarification : • Date de tarification : 28 juillet 2025 • Règlement/Échéance : 1er août 2030 • Valeur estimée : 920,10 $ (± 55 $) par 1 000 $ de valeur nominale, reflétant les coûts d'émission et les modèles internes de Morgan Stanley • CUSIP : 61778NBH3

Principaux risques soulignés par l'émetteur

  • Aucune participation à l'appréciation de l'indice au-delà du pair.
  • Un remboursement anticipé potentiel limite le total des coupons reçus.
  • Titre non coté avec liquidité secondaire limitée.
  • Exposition complète au risque de crédit de Morgan Stanley ; MSFL ne possède pas d'actifs indépendants.
  • Risques spécifiques à l'indice : diminution annuelle de 4%, effet de levier, historique opérationnel court (création le 30 août 2024).

Traitement fiscal et autres dispositions structurelles détaillées sont résumés dans le supplément préliminaire de tarification (lien SEC fourni) et doivent être consultés avant d'investir.

Morgan Stanley Finance LLC, garantiert durch Morgan Stanley, beabsichtigt die Emission von festverzinslichen, gepufferten, automatisch kündbaren Wertpapieren, die an den S&P 500 Futures 40% Intraday 4% Decrement VT Index (Ticker SPXF40D4) gekoppelt sind. Die Wertpapiere bieten einen festen Kupon von 7,00% bis 8,00% pro Jahr, der monatlich gezahlt wird, und laufen bis zum 1. August 2030, sofern sie nicht vorher automatisch zurückgezahlt werden.

Automatische Rückzahlung: Ab 12 Monaten nach Ausgabe und an jedem folgenden monatlichen Feststellungstag werden die Notes zum Nennwert (plus Kupon) zurückgezahlt, wenn der Index auf oder über dem Anfangsniveau (100%) schließt. Nach Rückzahlung sind keine weiteren Zahlungen fällig.

Abwärtschutz: Bei Fälligkeit erhalten Anleger die vollständige Rückzahlung des Kapitals, sofern der Index nicht mehr als den 15% Puffer gefallen ist. Unterhalb dieser Schwelle wird die Rückzahlung 1:1 reduziert, was ein maximales Verlustpotenzial von 85% bedeutet.

Preisdetails: • Preisfeststellung: 28. Juli 2025 • Abrechnung/Fälligkeit: 1. August 2030 • Geschätzter Wert: 920,10 $ (± 55 $) pro 1.000 $ Nennwert, unter Berücksichtigung der Emissionskosten und interner Modelle von Morgan Stanley • CUSIP: 61778NBH3

Wesentliche vom Emittenten hervorgehobene Risiken

  • Keine Teilnahme an einer Indexsteigerung über den Nennwert hinaus.
  • Mögliche Begrenzung der Gesamtkuponzahlungen durch vorzeitige Rückzahlung.
  • Nicht börsennotiertes Wertpapier mit begrenzter Sekundärliquidität.
  • Volle Kreditrisikoexposition gegenüber Morgan Stanley; MSFL verfügt über keine eigenen Vermögenswerte.
  • Index-spezifische Risiken: 4% jährlicher Abschlag, Hebelwirkung, kurze operative Historie (Beginn 30. August 2024).

Steuerliche Behandlung und weitere detaillierte strukturelle Bestimmungen sind im vorläufigen Preiszusatz (SEC-Link bereitgestellt) zusammengefasst und sollten vor einer Investition geprüft werden.

Positive
  • High fixed coupon of 7–8% p.a. provides predictable income if the note is not called.
  • 15% downside buffer shields principal against moderate index declines at maturity.
  • Monthly auto-call feature can return capital quickly in flat or rising markets.
Negative
  • No upside participation; return is capped at par plus coupons.
  • Estimated value ($920.10) is materially below face, implying up-front value transfer to issuer.
  • Early redemption risk limits total coupon accrual, potentially reducing effective yield.
  • Credit risk to Morgan Stanley; MSFL has no independent assets.
  • Index decrement of 4% drags performance and increases buffer breach probability.
  • Lack of exchange listing may lead to illiquidity and wider bid-ask spreads.

Insights

TL;DR: High coupon and modest 15% buffer attractive, but low estimated value and auto-call cap returns; overall neutral for MS equity.

The note targets yield-seeking investors. A 7-8% fixed coupon beats risk-free rates, yet the estimated value at only ~92% of face implies an 8% initial cost load. Monthly auto-call at 100% restricts duration when markets rise, capping earned yield. From the issuer’s perspective, the structure monetises investors’ hunt for income while transferring equity downside and funding benefits to Morgan Stanley. Because volumes of such notes are typically modest relative to Morgan Stanley’s balance sheet, the offering is not materially accretive or dilutive to MS earnings; hence, I view the announcement as neutral for shareholders.

TL;DR: Buyers take concentrated product, liquidity and credit risk for capped upside; buffer offers limited protection.

The 15% buffer mitigates moderate index declines but leaves investors exposed beyond that, as illustrated by a potential $450 loss at a 45% index drop. The 4% decrement inherently drags index performance, making buffer breaches likelier versus the parent S&P 500. Early redemption risk creates reinvestment uncertainty. Secondary market may trade at discounts given the $920 indicative value and lack of listing. Credit-spread widening at Morgan Stanley would directly erode market value. These factors render the note suitable only for investors comfortable with structured credit risk.

Morgan Stanley Finance LLC, garantita da Morgan Stanley, intende emettere titoli autocallable a reddito fisso con protezione buffer legati all'indice S&P 500 Futures 40% Intraday 4% Decrement VT (ticker SPXF40D4). I titoli offrono un cedola fissa annua tra il 7,00% e l'8,00%, pagata mensilmente, e scadono il 1 agosto 2030, salvo un rimborso anticipato automatico.

Caratteristica autocall: a partire da 12 mesi dall'emissione e in ogni data di determinazione mensile successiva, i titoli saranno rimborsati a valore nominale (più cedola) se l'indice chiude pari o superiore al livello iniziale (100%). Una volta richiamati, non sono dovuti ulteriori pagamenti.

Protezione al ribasso: a scadenza, gli investitori ricevono il rimborso integrale del capitale se l'indice non è sceso oltre il buffer del 15%. Sotto questa soglia, il rimborso viene ridotto in proporzione 1 a 1, esponendo i detentori a una perdita massima dell'85%.

Dettagli di prezzo: • Data di prezzo: 28 luglio 2025 • Regolamento/Scadenza: 1 agosto 2030 • Valore stimato: 920,10$ (± 55$) per 1.000$ di valore nominale, riflettendo i costi di emissione e i modelli interni di Morgan Stanley • CUSIP: 61778NBH3

Principali rischi evidenziati dall'emittente

  • Nessuna partecipazione all'apprezzamento dell'indice oltre il valore nominale.
  • Il rimborso anticipato può limitare il totale delle cedole percepite.
  • Strumento non quotato con liquidità secondaria limitata.
  • Esposizione completa al rischio di credito di Morgan Stanley; MSFL non possiede asset indipendenti.
  • Rischi specifici dell'indice: decremento annuo del 4%, leva finanziaria, breve storia operativa (inizio 30 agosto 2024).

Trattamento fiscale e altre disposizioni strutturali dettagliate sono riassunte nel supplemento preliminare di prezzo (link SEC fornito) e devono essere consultate prima di investire.

Morgan Stanley Finance LLC, garantizado por Morgan Stanley, tiene la intención de emitir Valores Autollamables con protección buffer y renta fija vinculados al índice S&P 500 Futures 40% Intraday 4% Decrement VT (ticker SPXF40D4). Los valores ofrecen un cupón fijo anual entre 7,00% y 8,00%, pagado mensualmente, y vencen el 1 de agosto de 2030, salvo redención anticipada automática.

Función autollamable: a partir de 12 meses desde la emisión y en cada fecha mensual de determinación, los bonos se redimirán al valor nominal (más el cupón) si el índice cierra igual o por encima del nivel inicial (100%). Una vez llamados, no se deben pagos adicionales.

Protección a la baja: al vencimiento, los inversores reciben el reembolso total del principal siempre que el índice no haya caído más allá del buffer del 15%. Por debajo de este umbral, el reembolso se reduce 1 a 1, exponiendo a los tenedores a una pérdida máxima del 85%.

Detalles de precio: • Fecha de precio: 28 de julio de 2025 • Liquidación/Vencimiento: 1 de agosto de 2030 • Valor estimado: $920.10 (± $55) por cada $1,000 nominales, reflejando costos de emisión y modelos internos de Morgan Stanley • CUSIP: 61778NBH3

Principales riesgos destacados por el emisor

  • No participa en apreciación del índice más allá del valor nominal.
  • La redención anticipada puede limitar el total de cupones recibidos.
  • Valor no listado con liquidez secundaria limitada.
  • Exposición total al riesgo crediticio de Morgan Stanley; MSFL no posee activos independientes.
  • Riesgos específicos del índice: decremento anual del 4%, apalancamiento, corta historia operativa (inicio 30 de agosto de 2024).

Tratamiento fiscal y otras disposiciones estructurales detalladas se resumen en el suplemento preliminar de precios (enlace SEC proporcionado) y deben revisarse antes de invertir.

Morgan Stanley Finance LLC는 Morgan Stanley가 보증하며, S&P 500 Futures 40% Intraday 4% Decrement VT 지수(티커 SPXF40D4)에 연계된 고정 수익 버퍼형 자동 상환 증권을 발행할 예정입니다. 이 증권은 연 7.00%~8.00%의 고정 쿠폰을 매월 지급하며, 2030년 8월 1일에 만기되며, 조기 자동 상환되지 않는 한 만기일까지 유지됩니다.

자동 상환 기능: 발행 12개월 후부터 매월 결정일마다 지수가 최초 수준(100%) 이상으로 마감되면 원금과 쿠폰을 포함해 액면가로 상환됩니다. 상환 시 추가 지급은 없습니다.

하방 보호: 만기 시 지수가 15% 버퍼 이상 하락하지 않았다면 원금 전액을 상환받습니다. 이 임계값 아래에서는 원금이 1대1 비율로 감소하며 최대 85% 손실에 노출됩니다.

가격 세부사항: • 가격 결정일: 2025년 7월 28일 • 결제/만기: 2030년 8월 1일 • 예상 가치: $920.10 (± $55) / $1,000 액면가 기준, 발행 비용 및 Morgan Stanley 내부 모델 반영 • CUSIP: 61778NBH3

발행사가 지적한 주요 위험

  • 지수 상승에 따른 추가 수익 참여 없음.
  • 조기 상환 시 전체 쿠폰 수령 제한 가능성.
  • 비상장 증권으로 2차 시장 유동성 제한.
  • Morgan Stanley 신용 위험에 전적으로 노출; MSFL은 독립 자산 없음.
  • 지수 관련 위험: 연 4% 감소 효과, 레버리지, 짧은 운용 이력(2024년 8월 30일 시작).

세금 처리 및 기타 상세 구조 조항은 예비 가격 보충자료(SEC 링크 포함)에 요약되어 있으며, 투자 전 반드시 검토해야 합니다.

Morgan Stanley Finance LLC, garantie par Morgan Stanley, prévoit d'émettre des titres à revenu fixe autocallables avec protection tampon liés à l'indice S&P 500 Futures 40% Intraday 4% Decrement VT (symbole SPXF40D4). Ces titres offrent un coupon fixe annuel de 7,00% à 8,00%, versé mensuellement, et arrivent à échéance le 1er août 2030, sauf remboursement anticipé automatique.

Caractéristique autocall : à partir de 12 mois après l'émission et à chaque date de détermination mensuelle suivante, les titres seront remboursés au pair (plus le coupon) si l'indice clôture au niveau initial (100%) ou au-dessus. Une fois rappelés, aucun paiement supplémentaire n'est dû.

Protection à la baisse : à l'échéance, les investisseurs reçoivent le remboursement intégral du capital tant que l'indice n'a pas chuté de plus de 15%. En dessous de ce seuil, le remboursement est réduit à raison de 1 pour 1, exposant les détenteurs à une perte maximale de 85%.

Détails de tarification : • Date de tarification : 28 juillet 2025 • Règlement/Échéance : 1er août 2030 • Valeur estimée : 920,10 $ (± 55 $) par 1 000 $ de valeur nominale, reflétant les coûts d'émission et les modèles internes de Morgan Stanley • CUSIP : 61778NBH3

Principaux risques soulignés par l'émetteur

  • Aucune participation à l'appréciation de l'indice au-delà du pair.
  • Un remboursement anticipé potentiel limite le total des coupons reçus.
  • Titre non coté avec liquidité secondaire limitée.
  • Exposition complète au risque de crédit de Morgan Stanley ; MSFL ne possède pas d'actifs indépendants.
  • Risques spécifiques à l'indice : diminution annuelle de 4%, effet de levier, historique opérationnel court (création le 30 août 2024).

Traitement fiscal et autres dispositions structurelles détaillées sont résumés dans le supplément préliminaire de tarification (lien SEC fourni) et doivent être consultés avant d'investir.

Morgan Stanley Finance LLC, garantiert durch Morgan Stanley, beabsichtigt die Emission von festverzinslichen, gepufferten, automatisch kündbaren Wertpapieren, die an den S&P 500 Futures 40% Intraday 4% Decrement VT Index (Ticker SPXF40D4) gekoppelt sind. Die Wertpapiere bieten einen festen Kupon von 7,00% bis 8,00% pro Jahr, der monatlich gezahlt wird, und laufen bis zum 1. August 2030, sofern sie nicht vorher automatisch zurückgezahlt werden.

Automatische Rückzahlung: Ab 12 Monaten nach Ausgabe und an jedem folgenden monatlichen Feststellungstag werden die Notes zum Nennwert (plus Kupon) zurückgezahlt, wenn der Index auf oder über dem Anfangsniveau (100%) schließt. Nach Rückzahlung sind keine weiteren Zahlungen fällig.

Abwärtschutz: Bei Fälligkeit erhalten Anleger die vollständige Rückzahlung des Kapitals, sofern der Index nicht mehr als den 15% Puffer gefallen ist. Unterhalb dieser Schwelle wird die Rückzahlung 1:1 reduziert, was ein maximales Verlustpotenzial von 85% bedeutet.

Preisdetails: • Preisfeststellung: 28. Juli 2025 • Abrechnung/Fälligkeit: 1. August 2030 • Geschätzter Wert: 920,10 $ (± 55 $) pro 1.000 $ Nennwert, unter Berücksichtigung der Emissionskosten und interner Modelle von Morgan Stanley • CUSIP: 61778NBH3

Wesentliche vom Emittenten hervorgehobene Risiken

  • Keine Teilnahme an einer Indexsteigerung über den Nennwert hinaus.
  • Mögliche Begrenzung der Gesamtkuponzahlungen durch vorzeitige Rückzahlung.
  • Nicht börsennotiertes Wertpapier mit begrenzter Sekundärliquidität.
  • Volle Kreditrisikoexposition gegenüber Morgan Stanley; MSFL verfügt über keine eigenen Vermögenswerte.
  • Index-spezifische Risiken: 4% jährlicher Abschlag, Hebelwirkung, kurze operative Historie (Beginn 30. August 2024).

Steuerliche Behandlung und weitere detaillierte strukturelle Bestimmungen sind im vorläufigen Preiszusatz (SEC-Link bereitgestellt) zusammengefasst und sollten vor einer Investition geprüft werden.

SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
RODKIN GARY M
(Last) (First) (Middle)
109 PATTERSON AVENUE
(Street)
GREENWICH CT 06830
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
SIMON PROPERTY GROUP INC /DE/ [ SPG ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
06/30/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 06/30/2025 P(1) 246 A $159.29(1) 19,010 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. Represents shares of common stock acquired through the reinvestment of dividends received on restricted stock awarded to the Reporting Person as non-cash compensation under the Simon Property Group, L.P. 2019 Stock Incentive Plan.
/s/ Gary M. Rodkin by his attorney-in-fact, Steven E. Fivel 07/01/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What is the ticker symbol for the index underlying Morgan Stanley's SPXF40D4 buffered securities?

The securities are linked to the S&P 500 Futures 40% Intraday 4% Decrement VT Index (ticker SPXF40D4).

How often can the SPXF40D4 notes be automatically called?

Starting 12 months after issuance, the notes are evaluated monthly; if the index closes at or above its initial level, they are redeemed at par.

What coupon rate do the Morgan Stanley buffered auto-callable securities pay?

The securities pay a fixed coupon of 7.00% to 8.00% per annum, distributed monthly.

How much principal protection do investors have in these notes?

There is a 15% buffer; if the index falls ≤15% at maturity, investors receive full principal. Losses accrue 1-for-1 below that level, up to an 85% maximum loss.

What is the estimated value of the SPXF40D4 buffered securities at pricing?

Morgan Stanley estimates the value at $920.10 per $1,000 note, within ±$55, reflecting issuance and hedging costs.

Are the securities listed on an exchange for secondary trading?

No, the notes will not be listed; secondary trading, if any, will be limited and may occur at prices below face value.
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Simon Prop Grp

NYSE:SPG

SPG Rankings

#297 Ranked by Market Cap
#635 Ranked by Dividends

SPG Latest News

Jun 27, 2025
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May 12, 2025
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Apr 16, 2025
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Apr 1, 2025
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SPG Latest SEC Filings

Jul 1, 2025
[Form 4] Simon Property Group, Inc. Insider Trading Activity
Jul 1, 2025
[Form 4] Simon Property Group, Inc. Insider Trading Activity
Jul 1, 2025
[Form 4] Simon Property Group, Inc. Insider Trading Activity
Jul 1, 2025
[Form 4] Simon Property Group, Inc. Insider Trading Activity
Jul 1, 2025
[Form 4] Simon Property Group, Inc. Insider Trading Activity

SPG Stock Data

52.42B
320.39M
0.93%
92.11%
1.29%
REIT - Retail
Real Estate Investment Trusts
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United States
INDIANAPOLIS