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Morgan Stanley plans trigger performance notes linked to Russell 2000
By Marisa Wong
Madison, Wis., Feb. 4 - Morgan Stanley plans to price 0% trigger performance securities due Feb. 29, 2024 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 127% to 147% of the index return. The exact participation rate will be set at pricing.
If the index return is zero or negative and the final index level is greater than or equal to the trigger level, the payout will be par. The trigger level will be 60% of the initial index level.
If the final index level is less than the trigger level, investors will lose 1% for every 1% that the final level is less than the initial level.
Morgan Stanley & Co. LLC is the agent, and UBS Financial Services Inc. is the dealer.
The notes are expected to price Feb. 25 and settle Feb. 28.
The Cusip number is 61760S316.
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