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Morgan Stanley intends to price trigger PLUS linked to S&P, Russell
By Sarah Lizee
Olympia, Wash., July 17 – Morgan Stanley Finance LLC plans to price 0% trigger Performance Leveraged Upside Securities due July 29, 2022 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
If the final level of both indexes is greater than their initial levels, the payout at maturity will be par plus 250% of the return of the worse-performing index, subject to a maximum payout that is expected to be $1,300 per $1,000 of notes and will be set at pricing.
If either index declines but both indexes finish at or above their 70% trigger levels, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worse-performing index from its initial level.
Morgan Stanley & Co. LLC is the agent.
The notes (Cusip: 61769HJL0) will price on July 26.
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