[FWP] Morgan Stanley Free Writing Prospectus
Morgan Stanley Finance LLC has announced SPX Market-Linked Notes due January 16, 2030, offering investors exposure to S&P 500庐 Index performance with principal protection. Key features include:
- 100% participation rate in index gains up to a maximum payment of $1,400 per note (140% of principal)
- Principal protection against market downside - minimum payment of $1,000 per note regardless of index performance
- Notes are priced at $973.90 estimated value per note
- 4.5-year term from July 11, 2025 pricing date to January 16, 2030 maturity
Key risks include: no interest payments, limited upside potential due to payment cap, credit risk of Morgan Stanley, limited secondary market liquidity, and potential required tax recognition before maturity. The notes' value will be determined solely by the S&P 500庐 Index level on the January 11, 2030 observation date.
Morgan Stanley Finance LLC ha annunciato le Note Collegate al Mercato SPX con scadenza il 16 gennaio 2030, offrendo agli investitori un'esposizione alla performance dell'indice S&P 500庐 con protezione del capitale. Le caratteristiche principali includono:
- 100% di partecipazione ai guadagni dell'indice fino a un pagamento massimo di $1.400 per nota (140% del capitale)
- Protezione del capitale contro ribassi di mercato - pagamento minimo di $1.000 per nota indipendentemente dalla performance dell'indice
- Prezzo stimato delle note a $973,90 per nota
- Durata di 4,5 anni dal 11 luglio 2025 (data di prezzo) fino al 16 gennaio 2030 (scadenza)
I rischi principali comprendono: assenza di pagamenti di interessi, potenziale di guadagno limitato a causa del tetto di pagamento, rischio di credito di Morgan Stanley, liquidit脿 limitata nel mercato secondario e possibile necessit脿 di riconoscimento fiscale prima della scadenza. Il valore delle note sar脿 determinato esclusivamente dal livello dell'indice S&P 500庐 alla data di osservazione del 11 gennaio 2030.
Morgan Stanley Finance LLC ha anunciado las Notas Vinculadas al Mercado SPX con vencimiento el 16 de enero de 2030, que ofrecen a los inversores exposici贸n al rendimiento del 铆ndice S&P 500庐 con protecci贸n del capital. Las caracter铆sticas clave incluyen:
- 100% de tasa de participaci贸n en las ganancias del 铆ndice hasta un pago m谩ximo de $1,400 por nota (140% del capital)
- Protecci贸n del capital contra ca铆das del mercado - pago m铆nimo de $1,000 por nota sin importar el rendimiento del 铆ndice
- Notas valoradas en $973.90 estimado por nota
- Plazo de 4.5 a帽os desde la fecha de precio del 11 de julio de 2025 hasta el vencimiento el 16 de enero de 2030
Los riesgos principales incluyen: ausencia de pagos de intereses, potencial limitado de ganancias debido al tope de pago, riesgo crediticio de Morgan Stanley, liquidez limitada en el mercado secundario y posible reconocimiento fiscal requerido antes del vencimiento. El valor de las notas se determinar谩 煤nicamente por el nivel del 铆ndice S&P 500庐 en la fecha de observaci贸n del 11 de enero de 2030.
Morgan Stanley Finance LLC電� 2030雲� 1鞗� 16鞚� 毵岅赴 SPX 鞁滌灔 鞐瓣硠 雲疙姼毳� 氚滍憸頄堨溂氅�, 韴瀽鞛愲摛鞐愱矊 S&P 500庐 歆�靾� 靹标臣鞐� 雽�頃� 雲胳稖瓿� 鞗愱笀 氤错樃毳� 鞝滉车頃╇媹雼�. 欤检殧 韸轨鞚� 雼れ潓瓿� 臧欖姷雼堧嫟:
- 歆�靾� 靸侅姽鞐� 雽�頃� 100% 彀胳棳鞙�, 雲疙姼雼� 斓滊寑 歆�旮夓暋 $1,400 (鞗愱笀鞚� 140%)
- 鞁滌灔 頃橂澖鞐� 雽�頃� 鞗愱笀 氤错樃 - 歆�靾� 靹标臣鞕� 甏�瓿勳梿鞚� 雲疙姼雼� 斓滌唽 $1,000 歆�旮� 氤挫灔
- 雲疙姼鞚� 鞓堨儊 臧�瓴╈潃 雲疙姼雼� $973.90
- 2025雲� 7鞗� 11鞚� 臧�瓴� 毂呾爼鞚茧秬韯� 2030雲� 1鞗� 16鞚� 毵岅赴旯岇 4.5雲� 旮瓣皠
欤检殧 鞙勴棙 鞖旍唽搿滊姅 鞚挫瀽 歆�旮� 鞐嗢潓, 歆�旮� 靸來暅鞙茧 鞚疙暅 靾橃澋 鞝滍暅, Morgan Stanley鞚� 鞁犾毄 鞙勴棙, 鞝滍暅霅� 2彀� 鞁滌灔 鞙犽彊靹�, 毵岅赴 鞝� 靹戈笀 鞚胳嫕 臧�電レ劚鞚� 鞛堨姷雼堧嫟. 雲疙姼 臧�旃橂姅 2030雲� 1鞗� 11鞚� 甏�彀办澕鞚� S&P 500庐 歆�靾� 靾橃鞐� 霐半澕 瓴办爼霅╇媹雼�.
Morgan Stanley Finance LLC a annonc茅 les Notes li茅es au march茅 SPX arrivant 脿 茅ch茅ance le 16 janvier 2030, offrant aux investisseurs une exposition 脿 la performance de l'indice S&P 500庐 avec protection du capital. Les caract茅ristiques principales incluent :
- Taux de participation de 100% aux gains de l'indice jusqu'脿 un paiement maximum de 1 400 $ par note (140 % du capital)
- Protection du capital contre la baisse du march茅 - paiement minimum de 1 000 $ par note, quelle que soit la performance de l'indice
- Notes valoris茅es 脿 973,90 $ estim茅s par note
- Dur茅e de 4,5 ans, du 11 juillet 2025 (date de fixation du prix) au 16 janvier 2030 (茅ch茅ance)
Les principaux risques comprennent : absence de paiements d鈥檌nt茅r锚ts, potentiel de gain limit茅 en raison du plafond de paiement, risque de cr茅dit de Morgan Stanley, liquidit茅 limit茅e sur le march茅 secondaire, et reconnaissance fiscale potentielle avant l鈥櫭ヽh茅ance. La valeur des notes sera d茅termin茅e uniquement par le niveau de l鈥檌ndice S&P 500庐 脿 la date d鈥檕bservation du 11 janvier 2030.
Morgan Stanley Finance LLC hat SPX marktgebundene Schuldverschreibungen mit F盲lligkeit am 16. Januar 2030 angek眉ndigt, die Anlegern eine Beteiligung an der Wertentwicklung des S&P 500庐 Index mit Kapitalschutz bieten. Wichtige Merkmale sind:
- 100% Partizipationsrate an den Indexgewinnen bis zu einer maximalen Auszahlung von $1.400 pro Note (140% des Kapitals)
- Kapitalschutz gegen Marktr眉ckg盲nge - Mindestzahlung von $1.000 pro Note unabh盲ngig von der Indexentwicklung
- Die Noten werden mit einem gesch盲tzten Wert von $973,90 pro Note bewertet
- Laufzeit von 4,5 Jahren vom 11. Juli 2025 (Preisstellung) bis zum 16. Januar 2030 (F盲lligkeit)
Wesentliche Risiken umfassen: keine Zinszahlungen, begrenztes Aufw盲rtspotenzial durch Auszahlungsh枚chstgrenze, Kreditrisiko von Morgan Stanley, eingeschr盲nkte Liquidit盲t am Sekund盲rmarkt sowie m枚gliche steuerliche Anerkennung vor F盲lligkeit. Der Wert der Noten wird ausschlie脽lich durch den Stand des S&P 500庐 Index am Beobachtungstag, dem 11. Januar 2030, bestimmt.
- Morgan Stanley is offering structured notes with 100% participation in S&P 500 upside up to a 40% maximum return
- Principal protection feature guarantees return of initial investment even if S&P 500 declines up to 60%
- 4.5-year maturity provides medium-term growth potential while maintaining downside protection
- Maximum return is capped at 40% (or $1,400 per $1,000 note), limiting upside potential in strong bull markets
- Estimated value of $973.90 per note represents a 2.61% discount to the issue price, indicating significant embedded costs
- Notes offer no periodic interest payments, reducing income potential compared to traditional bonds
- Credit risk exposure to Morgan Stanley could impact note value and final payment
Morgan Stanley Finance LLC ha annunciato le Note Collegate al Mercato SPX con scadenza il 16 gennaio 2030, offrendo agli investitori un'esposizione alla performance dell'indice S&P 500庐 con protezione del capitale. Le caratteristiche principali includono:
- 100% di partecipazione ai guadagni dell'indice fino a un pagamento massimo di $1.400 per nota (140% del capitale)
- Protezione del capitale contro ribassi di mercato - pagamento minimo di $1.000 per nota indipendentemente dalla performance dell'indice
- Prezzo stimato delle note a $973,90 per nota
- Durata di 4,5 anni dal 11 luglio 2025 (data di prezzo) fino al 16 gennaio 2030 (scadenza)
I rischi principali comprendono: assenza di pagamenti di interessi, potenziale di guadagno limitato a causa del tetto di pagamento, rischio di credito di Morgan Stanley, liquidit脿 limitata nel mercato secondario e possibile necessit脿 di riconoscimento fiscale prima della scadenza. Il valore delle note sar脿 determinato esclusivamente dal livello dell'indice S&P 500庐 alla data di osservazione del 11 gennaio 2030.
Morgan Stanley Finance LLC ha anunciado las Notas Vinculadas al Mercado SPX con vencimiento el 16 de enero de 2030, que ofrecen a los inversores exposici贸n al rendimiento del 铆ndice S&P 500庐 con protecci贸n del capital. Las caracter铆sticas clave incluyen:
- 100% de tasa de participaci贸n en las ganancias del 铆ndice hasta un pago m谩ximo de $1,400 por nota (140% del capital)
- Protecci贸n del capital contra ca铆das del mercado - pago m铆nimo de $1,000 por nota sin importar el rendimiento del 铆ndice
- Notas valoradas en $973.90 estimado por nota
- Plazo de 4.5 a帽os desde la fecha de precio del 11 de julio de 2025 hasta el vencimiento el 16 de enero de 2030
Los riesgos principales incluyen: ausencia de pagos de intereses, potencial limitado de ganancias debido al tope de pago, riesgo crediticio de Morgan Stanley, liquidez limitada en el mercado secundario y posible reconocimiento fiscal requerido antes del vencimiento. El valor de las notas se determinar谩 煤nicamente por el nivel del 铆ndice S&P 500庐 en la fecha de observaci贸n del 11 de enero de 2030.
Morgan Stanley Finance LLC電� 2030雲� 1鞗� 16鞚� 毵岅赴 SPX 鞁滌灔 鞐瓣硠 雲疙姼毳� 氚滍憸頄堨溂氅�, 韴瀽鞛愲摛鞐愱矊 S&P 500庐 歆�靾� 靹标臣鞐� 雽�頃� 雲胳稖瓿� 鞗愱笀 氤错樃毳� 鞝滉车頃╇媹雼�. 欤检殧 韸轨鞚� 雼れ潓瓿� 臧欖姷雼堧嫟:
- 歆�靾� 靸侅姽鞐� 雽�頃� 100% 彀胳棳鞙�, 雲疙姼雼� 斓滊寑 歆�旮夓暋 $1,400 (鞗愱笀鞚� 140%)
- 鞁滌灔 頃橂澖鞐� 雽�頃� 鞗愱笀 氤错樃 - 歆�靾� 靹标臣鞕� 甏�瓿勳梿鞚� 雲疙姼雼� 斓滌唽 $1,000 歆�旮� 氤挫灔
- 雲疙姼鞚� 鞓堨儊 臧�瓴╈潃 雲疙姼雼� $973.90
- 2025雲� 7鞗� 11鞚� 臧�瓴� 毂呾爼鞚茧秬韯� 2030雲� 1鞗� 16鞚� 毵岅赴旯岇 4.5雲� 旮瓣皠
欤检殧 鞙勴棙 鞖旍唽搿滊姅 鞚挫瀽 歆�旮� 鞐嗢潓, 歆�旮� 靸來暅鞙茧 鞚疙暅 靾橃澋 鞝滍暅, Morgan Stanley鞚� 鞁犾毄 鞙勴棙, 鞝滍暅霅� 2彀� 鞁滌灔 鞙犽彊靹�, 毵岅赴 鞝� 靹戈笀 鞚胳嫕 臧�電レ劚鞚� 鞛堨姷雼堧嫟. 雲疙姼 臧�旃橂姅 2030雲� 1鞗� 11鞚� 甏�彀办澕鞚� S&P 500庐 歆�靾� 靾橃鞐� 霐半澕 瓴办爼霅╇媹雼�.
Morgan Stanley Finance LLC a annonc茅 les Notes li茅es au march茅 SPX arrivant 脿 茅ch茅ance le 16 janvier 2030, offrant aux investisseurs une exposition 脿 la performance de l'indice S&P 500庐 avec protection du capital. Les caract茅ristiques principales incluent :
- Taux de participation de 100% aux gains de l'indice jusqu'脿 un paiement maximum de 1 400 $ par note (140 % du capital)
- Protection du capital contre la baisse du march茅 - paiement minimum de 1 000 $ par note, quelle que soit la performance de l'indice
- Notes valoris茅es 脿 973,90 $ estim茅s par note
- Dur茅e de 4,5 ans, du 11 juillet 2025 (date de fixation du prix) au 16 janvier 2030 (茅ch茅ance)
Les principaux risques comprennent : absence de paiements d鈥檌nt茅r锚ts, potentiel de gain limit茅 en raison du plafond de paiement, risque de cr茅dit de Morgan Stanley, liquidit茅 limit茅e sur le march茅 secondaire, et reconnaissance fiscale potentielle avant l鈥櫭ヽh茅ance. La valeur des notes sera d茅termin茅e uniquement par le niveau de l鈥檌ndice S&P 500庐 脿 la date d鈥檕bservation du 11 janvier 2030.
Morgan Stanley Finance LLC hat SPX marktgebundene Schuldverschreibungen mit F盲lligkeit am 16. Januar 2030 angek眉ndigt, die Anlegern eine Beteiligung an der Wertentwicklung des S&P 500庐 Index mit Kapitalschutz bieten. Wichtige Merkmale sind:
- 100% Partizipationsrate an den Indexgewinnen bis zu einer maximalen Auszahlung von $1.400 pro Note (140% des Kapitals)
- Kapitalschutz gegen Marktr眉ckg盲nge - Mindestzahlung von $1.000 pro Note unabh盲ngig von der Indexentwicklung
- Die Noten werden mit einem gesch盲tzten Wert von $973,90 pro Note bewertet
- Laufzeit von 4,5 Jahren vom 11. Juli 2025 (Preisstellung) bis zum 16. Januar 2030 (F盲lligkeit)
Wesentliche Risiken umfassen: keine Zinszahlungen, begrenztes Aufw盲rtspotenzial durch Auszahlungsh枚chstgrenze, Kreditrisiko von Morgan Stanley, eingeschr盲nkte Liquidit盲t am Sekund盲rmarkt sowie m枚gliche steuerliche Anerkennung vor F盲lligkeit. Der Wert der Noten wird ausschlie脽lich durch den Stand des S&P 500庐 Index am Beobachtungstag, dem 11. Januar 2030, bestimmt.
Free Writing Prospectus to Preliminary Pricing Supplement No. 9,071
Registration Statement Nos. 333-275587; 333-275587-01
Dated June 25, 2025; Filed pursuant to Rule 433
Morgan Stanley
SPX Market-Linked Notes due January 16, 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® Index (SPX) |
|
Participation rate: |
100% |
|
Maximum payment at maturity: |
$1,400 per note (140% of the stated principal amount) |
|
Pricing date: |
July 11, 2025 |
|
Observation date: |
January 11, 2030 |
|
Maturity date: |
January 16, 2030 |
|
CUSIP: |
61778NBS9 |
|
Estimated value: |
$973.90 per note, or within $45.00 of that estimate |
|
Preliminary pricing supplement: |
https://www.sec.gov/Archives/edgar/data/895421/000183988225034543/ms9071_424b2-18847.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 |
|
+100.00% |
$1,400.00 |
|
+80.00% |
$1,400.00 |
|
+60.00% |
$1,400.00 |
|
+40.00% |
$1,400.00 |
|
+20.00% |
$1,200.00 |
|
+10.00% |
$1,100.00 |
|
0.00% |
$1,000.00 |
|
-20.00% |
$1,000.00 |
|
-40.00% |
$1,000.00 |
|
-60.00% |
$1,000.00 |
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.
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 appreciation potential of the notes is limited by the maximum payment at maturity.
●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.
oAdjustments to an underlying 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.
Source:
FAQ
What is the maximum return potential for MS's SPX Market-Linked Notes due January 2030?
What is the downside protection on MS's new market-linked notes?
What is the estimated value of MS's SPX Market-Linked Notes issued in July 2025?
When do MS's SPX Market-Linked Notes mature and what is their CUSIP?
What are the key risks of MS's SPX Market-Linked Notes?
