0001839882-25-014767.txt : 20250310 0001839882-25-014767.hdr.sgml : 20250310 20250310155831 ACCESSION NUMBER: 0001839882-25-014767 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20250310 DATE AS OF CHANGE: 20250310 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MORGAN STANLEY CENTRAL INDEX KEY: 0000895421 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] ORGANIZATION NAME: 02 Finance IRS NUMBER: 363145972 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-275587 FILM NUMBER: 25723547 BUSINESS ADDRESS: STREET 1: 1585 BROADWAY CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 212-761-4000 MAIL ADDRESS: STREET 1: 1585 BROADWAY CITY: NEW YORK STATE: NY ZIP: 10036 FORMER COMPANY: FORMER CONFORMED NAME: MORGAN STANLEY DEAN WITTER & CO DATE OF NAME CHANGE: 19980326 FORMER COMPANY: FORMER CONFORMED NAME: DEAN WITTER DISCOVER & CO DATE OF NAME CHANGE: 19960315 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: MORGAN STANLEY CENTRAL INDEX KEY: 0000895421 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] ORGANIZATION NAME: 02 Finance IRS NUMBER: 363145972 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 1585 BROADWAY CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 212-761-4000 MAIL ADDRESS: STREET 1: 1585 BROADWAY CITY: NEW YORK STATE: NY ZIP: 10036 FORMER COMPANY: FORMER CONFORMED NAME: MORGAN STANLEY DEAN WITTER & CO DATE OF NAME CHANGE: 19980326 FORMER COMPANY: FORMER CONFORMED NAME: DEAN WITTER DISCOVER & CO DATE OF NAME CHANGE: 19960315 FWP 1 ms7061_fwp-07653.htm FREE WRITING PROSPECTUS TO PRELIMINARY PRICING SUPPLEMENT NO. 7,061

Free Writing Prospectus to Preliminary Pricing Supplement No. 7,061

Registration Statement Nos. 333-275587; 333-275587-01

Dated March 10, 2025; Filed pursuant to Rule 433

Morgan Stanley

6-Year SX5E Trigger PLUS

This document provides a summary of the terms of the Trigger PLUS. 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.


Summary Terms

Issuer:

Morgan Stanley Finance LLC

Guarantor:

Morgan Stanley

Maturity date:

April 3, 2031

Underlying index:

EURO STOXX 50® Index (SX5E)

Payment at maturity per Trigger PLUS:

If the final index value is greater than the initial index value:

$1,000 + leveraged upside payment

If the final index value is less than or equal to the initial index value but is greater than or equal to the trigger level:

$1,000

If the final index value is less than the trigger level:

$1,000 × index performance factor

Under these circumstances, the payment at maturity will be less than the stated principal amount of $1,000 and will represent a loss of more than 35%, and possibly all, of your investment.

Leveraged upside payment:

$1,000 × leverage factor × index percent increase

Leverage factor:

194.60%

Index percent increase:

(final index value – initial index value) / initial index value

Initial index value:

The index closing value on the pricing date

Final index value:

The index closing value on the valuation date

Trigger level:

65% of the initial index value

Valuation date:

March 31, 2031, subject to postponement for non-index business days and certain market disruption events

Index performance factor:

Final index value divided by the initial index value

Stated principal amount:

$1,000 per Trigger PLUS 

Issue price:

$1,000 per Trigger PLUS

Pricing date:

March 14, 2025

Original issue date:

March 19, 2025 (3 business days after the pricing date)

CUSIP / ISIN:

61778CYA7 / US61778CYA79

Preliminary pricing supplement:

https://www.sec.gov/Archives/edgar/data/895421/000183988225014753/ms7061_424b2-07652.htm

1All payments are subject to our credit risk

 

Hypothetical Payout at Maturity1

 

Change in Underlying Index

Return on the Trigger PLUS

+70.00%

136.22%

+60.00%

116.76%

+50.00%

97.30%

+40.00%

77.84%

+30.00%

58.38%

+20.00%

38.92%

+10.00%

19.46%

+5.00%

9.73%

0.00%

0.00%

-10.00%

0.00%

-20.00%

0.00%

-30.00%

0.00%

-35.00%

0.00%

-36.00%

-36.00%

-40.00%

-40.00%

-50.00%

-50.00%

-60.00%

-60.00%

-80.00%

-80.00%

-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 Index

For more information about the underlying index, 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 Trigger PLUS

The Trigger PLUS do not pay interest or guarantee return of any principal.

The market price of the Trigger PLUS will be influenced by many unpredictable factors.

The Trigger PLUS 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 Trigger PLUS.

As a finance subsidiary, MSFL has no independent operations and will have no independent assets.

The amount payable on the Trigger PLUS is not linked to the value of the underlying index at any time other than the valuation date.

The estimated value of the Trigger PLUS is $939.90 per Trigger PLUS, or within $40.00 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.

Investing in the Trigger PLUS is not equivalent to investing in the underlying index.

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 Trigger PLUS in the original issue price reduce the economic terms of the Trigger PLUS, cause the estimated value of the Trigger PLUS to be less than the original issue price and will adversely affect secondary market prices.

The Trigger PLUS will not be listed on any securities exchange and secondary trading may be limited.

The calculation agent, which is a subsidiary of Morgan Stanley and an affiliate of MSFL, will make determinations with respect to the Trigger PLUS.

Hedging and trading activity by our affiliates could potentially adversely affect the value of the Trigger PLUS.

The U.S. federal income tax consequences of an investment in the Trigger PLUS are uncertain.

 

Risks Relating to the Underlying Index

There are risks associated with investments in securities linked to the value of foreign equity securities.

Governmental regulatory actions, such as sanctions, could adversely affect your investment in the Trigger PLUS.

Adjustments to the underlying index could adversely affect the value of the Trigger PLUS.

 

Tax Considerations

You should review carefully the discussion in the accompanying preliminary pricing supplement under the caption “Additional Information About the Trigger PLUS–Tax considerations” concerning the U.S. federal income tax consequences of an investment in the Trigger PLUS, and you should consult your tax adviser.

 

GRAPHIC 2 image1.gif GRAPHIC begin 644 image1.gif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end