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Morgan Stanley plans trigger performance securities tied to S&P 500
By Marisa Wong
Madison, Wis., July 7 – Morgan Stanley plans to price 0% trigger performance securities due July 31, 2024 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 163% to 183% of the index return, with the exact participation rate to be determined at pricing.
Investors will receive par if the index falls by up to 25% and will be fully exposed to losses from the initial level if it falls by more than 25%.
Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as the dealer.
The notes are expected to price on July 28 and settle on July 31.
The Cusip number is 61761S687.
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