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Morgan Stanley plans callable buffered range accrual notes on Russell
By Susanna Moon
Chicago, May 16 – Morgan Stanley Finance LLC plans to price callable buffered range accrual securities due May 30, 2023 linked to the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
Interest will accrue at 5.1% for each day that the index closes at or above its 80% coupon barrier, payable monthly.
The payout at maturity will be par unless the index falls by more than 20%, in which case investors will be exposed to any losses beyond the buffer.
The notes will be callable at par on any interest payment date after one year.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
The notes will price on May 24 and settle on May 30.
The Cusip number is 61768CZ42.
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