Morgan Stanley updates maturity date for planned dual directional trigger notes linked to S&P 500

By Jennifer Chiou

New York, June 10 - Morgan Stanley revised the planned maturity date for its upcoming offering of 0% dual directional trigger securities linked to the S&P 500 index to June 2018 from December 2018, according to a 424B2 filing with the Securities and Exchange Commission.

As reported, if the final index level is greater than the initial index level, the payout at maturity will be par of $10 plus the index return, subject to a maximum payment of $19 to $20 per note. The exact maximum payment will be set at pricing.

If the final index level is less than or equal to the initial index level but greater than or equal to the trigger level, the payout will be par plus the absolute value of the index return. The trigger level will be 65% of the initial index level.

If the final index level is less than the trigger price, investors will lose 1% for every 1% that the final index level is below the initial level.

The notes (Cusip: 61762E547) will price in June and settle in July.

Morgan Stanley & Co. LLC is the agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.