Morgan Stanley eyes buffered PLUS due 2021 tied to Financial Select

By Sarah Lizee

Olympia, Wash., March 4 – Morgan Stanley Finance LLC plans to price 0% buffered Performance Leveraged Upside Securities due March 25, 2021 linked to the Financial Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

The payout at maturity will be par plus 200% of any fund gain, capped at $1,170 to $1,220 per $1,000 note.

Investors will receive par if the fund falls by up to 10% and will lose 1% for each 1% decline beyond 10%.

Morgan Stanley & Co. LLC is the agent.

The notes (Cusip: 61768DS30) will price on March 22.

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