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Morgan Stanley plans airbag performance notes linked to Russell 2000
By Susanna Moon
Chicago, Jan. 10 - Morgan Stanley plans to price 0% airbag performance securities due Jan. 31, 2024 linked to the Russell 2000 index, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par plus between 115% and 130% of any index gain, with the exact participation rate to be set at pricing.
If the index falls by up to the 50% trigger level, the payout will be par. Otherwise, investors will lose 2% for every 1% decline beyond 50%.
Morgan Stanley & Co. LLC is the agent, and UBS Financial Services Inc. is the dealer.
The notes will price on Jan. 28 and settle on Jan. 31.
The Cusip number is 61760S167.
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