Morgan Stanley plans 0% buffered PLUS notes linked to S&P 500

By Jennifer Chiou

New York, April 20 - Morgan Stanley plans to price 0% notes due May 11, 2009 in the buffered Performance Leveraged Upside Securities (PLUS) structure linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double of any positive return, capped at between 118% and 121%, with the exact cap to be set at pricing. Investors will receive par if the basket loses up to 10% and will participate in any losses beyond 10% at a rate of 1.1111% per 1% decline.

The notes will price and settle in May.

Morgan Stanley will be the underwriter.

© 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.