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Morgan Stanley plans dual directional trigger PLUS linked to S&P 500
By Susanna Moon
Chicago, Oct. 9 – Morgan Stanley plans to price 0% dual directional trigger Performance Leveraged Upside Securities due Nov. 5, 2019 linked to the worst performing of the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
If each index finishes above its initial level, the payout at maturity will be par of $10 plus 105% to 115% of the return of the worst performing index. The exact leverage factor will be set at pricing.
If either index falls by up to the 55% trigger level, the payout will be par plus the absolute value of the return of the worst performing index.
Otherwise, investors will be fully exposed to any losses of the worst performing index.
Morgan Stanley & Co. LLC is the underwriter.
The notes will price on Oct. 31 and settle on Nov. 5.
The Cusip number is 61761JUA5.
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