Morgan Stanley plans trigger PLUS linked to Dow industrials, Russell

By Angela McDaniels

Tacoma, Wash., Dec. 20 – Morgan Stanley Finance LLC plans to price 0% trigger Performance Leveraged Upside Securities due Jan. 2, 2025 linked to the lesser performing of the Dow Jones industrial average and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

If each index finishes above its initial level, the payout at maturity will be par plus 180% to 190% of the lesser-performing index’s return. The exact leverage factor will be set at pricing.

If the final level of either index is less than or equal to its initial level but the final level of each index is greater than or equal to its trigger level, the payout will be par. For each index, the trigger level will be 60% of its initial level.

If the final level of either index is less than its trigger level, investors will be exposed to the decline of the lesser-performing index from its initial level.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

The notes will price Dec. 27.

The Cusip number is 61769H2V6.

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