Morgan Stanley plans dual directional trigger PLUS tied to S&P 500

By Marisa Wong

Madison, Wis., March 4 - Morgan Stanley plans to price 0% dual directional trigger Performance Leveraged Upside Securities due March 2020 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If the final index level is greater than the initial index level, the payout at maturity will be par or $10 plus 117.5% of the index return.

If the final index level is less than or equal to the initial index level but greater than or equal to the trigger level, the payout will be par plus the absolute value of the index return. The trigger level is 65% of the initial index level.

If the final index level is less than the trigger level, investors will be fully exposed to the decline from the initial index level.

Morgan Stanley & Co. LLC is the agent.

The notes will price in March and settle in April.

The Cusip number is 61760A514.

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