Morgan Stanley plans trigger PLUS linked to S&P 500, Russell 2000

By Angela McDaniels

Tacoma, Wash., April 23 – Morgan Stanley Finance LLC plans to price 0% trigger Performance Leveraged Upside Securities due April 29, 2024 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Morgan Stanley.

If each index finishes above its initial level, the payout at maturity will be par plus at least 150% of the lesser-performing index’s return. The exact leverage factor will be set at pricing.

If the final level of either index is less than or equal to its initial level but the final level of each index is greater than or equal to its trigger level, the payout will be par plus 20%. For each index, the trigger level is 70% of its initial level.

If the final level of either index is less than its trigger level, investors will be exposed to the decline of the lesser-performing index from its initial level.

Morgan Stanley & Co. LLC is the agent.

The notes will price April 24.

The Cusip number is 61768D6S9.

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