Morgan Stanley plans capped trigger in-step securities on S&P 500

By Sarah Lizee

Olympia, Wash., Feb. 24 – Morgan Stanley Finance LLC plans to price 0% capped trigger in-step securities due Aug. 31, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Morgan Stanley.

If the index finishes at or above the 80% step barrier level, the payout at maturity will be par of $10 plus the greater of the 10% step return and any index gain up to a maximum settlement amount of between $11.55 and $11.828 per $10 of notes.

Otherwise, investors will be fully exposed to any losses.

UBS Financial Services Inc. and Morgan Stanley & Co. LLC are the agents.

The notes will price on Feb. 25.

The Cusip number is 61770G294.

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