Morgan Stanley plans partial principal at risk notes tied to S&P 500

By Jennifer Chiou

New York, May 3 - Morgan Stanley plans to price 0% equity-linked partial principal at risk securities due May 2020 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.

The payout at maturity will be par of $10.00 plus any index gain, subject to a maximum payout of $17.50 to $18.00 per note. The exact cap will be set at pricing.

If the index declines, investors will receive par plus the index return, subject to a minimum payout of $9.00 per security.

The notes (Cusip: 61762E299) will price in May and settle in June.

Morgan Stanley & Co. LLC is the agent.

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