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Morgan Stanley plans dual directional trigger PLUS notes on S&P 500
By Susanna Moon
Chicago, Nov. 4 - Morgan Stanley plans to price 0% dual directional trigger Performance Leveraged Upside Securities due November 2019 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes above the initial level, the payout at maturity will be par of $10 plus 110% of the index return. The exact participation rate will be set at pricing.
If the index falls by up to the 65% trigger level, the payout will be par plus the absolute value of the return, up to a maximum return of 35%.
Otherwise, investors will be fully exposed to any losses.
Morgan Stanley & Co. LLC is the agent.
The notes will price in November and settle in December.
The Cusip number is 61762W497.
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