Morgan Stanley plans trigger participation notes tied to S&P, Russell

By Sarah Lizee

Olympia, Wash., Jan. 2 – Morgan Stanley Finance LLC plans to price 0% trigger participation securities due Aug. 2, 2021 linked to the worst performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Morgan Stanley.

The payout at maturity will be par plus any gain of the lesser performing index.

If either index falls by up to 60% of its initial level, the payout will be par.

Otherwise, investors will be fully exposed to any losses of the lesser performing index.

Morgan Stanley & Co. LLC is the agent.

The notes are expected to price Jan. 28 and settle Jan. 31.

The Cusip number is 61768DVZ5.

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