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Morgan Stanley to price trigger performance notes tied to Russell 2000
By Toni Weeks
San Luis Obispo, Calif., May 7 – Morgan Stanley plans to price 0% trigger performance securities due May 30, 2025 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 125% to 145% of the index return. The exact participation rate will be set at pricing.
If the index return is zero or negative and the index’s final level is greater than or equal to the trigger level, 50% of the initial level, the payout will be par.
If the final level is less than the trigger level, investors will be fully exposed to the decline in the index from its initial level.
Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as placement agent.
The notes are expected to price May 26 and settle May 29.
The Cusip number is 61765G127.
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