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Morgan Stanley plans dual directional trigger jump notes on S&P 500
By Marisa Wong
Morgantown, W.Va., April 19 – Morgan Stanley Finance LLC plans to price 0% dual directional trigger jump securities due April 27, 2021 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the index finishes above its initial level, the payout at maturity will be par plus the greater of the gain and the upside payment of 40%.
If the index falls but finishes at or above the 70% trigger level, the payout will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to any losses.
Morgan Stanley & Co. LLC is the agent.
The notes will price on April 22.
The Cusip number is 61766BAN1.
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