Morgan Stanley to issue bearish dual directional notes on Technology Select Sector ETF

By Emma Trincal

New York, April 21 – Morgan Stanley Finance LLC plans to issue 0% bearish dual directional trigger participation notes due April 29, 2024 linked to the Technology Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If the final ETF price is less than the initial price, the payout will be par plus the absolute value of the price decline up to a cap of par plus 30%.

If the final ETF level is greater than or equal to the initial price, but less than the 120% trigger level, the payout will be par plus the return of the fund.

If the final ETF level is greater than the trigger level, investors will lose 1% for each 1% of prince increase from the initial level.

The notes were expected to price on April 21 and to settle on April 26.

The Cusip number is 61774XRZ8.

Morgan Stanley & Co. LLC is the agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.