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Morgan Stanley plans notes with averaging tied to S&P 500, S&P MidCap
By Angela McDaniels
Tacoma, Wash., Aug. 27 – Morgan Stanley plans to price 0% market-linked notes due July 2023 linked to a basket that includes equal weights of the S&P 500 index and the S&P MidCap 400 index, according to an FWP filing with the Securities and Exchange Commission.
The final basket level will be the average of the basket’s closing levels on each business day during a three-month period that will begin in March 2023.
The payout at maturity will be par plus the basket return, subject to a maximum payout of $20 per $10 principal amount of notes.
Morgan Stanley & Co. LLC is the agent.
The notes will price in August and settle in September.
The Cusip number is 61758S559.
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