Morgan Stanley plans dual directional trigger PLUS linked to S&P 500

By Wendy Van Sickle

Columbus, Ohio, Dec. 7 – Morgan Stanley Finance LLC plans to price 0% dual directional trigger Performance Leveraged Upside Securities due Jan. 4, 2022 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will be guaranteed by Morgan Stanley.

If the final index level is greater than the initial index level, the payout at maturity will be par of $10 plus the greater of the index return and 28.25%.

If the final index level is less than or equal to the initial index level but greater than or equal to the trigger index level, the payout will be par plus the absolute value of the index return. The trigger index level will be 70% of the initial index level.

If the final index level is less than the trigger index level, investors will be fully exposed to the index’s decline from the initial index level.

Morgan Stanley & Co. LLC is the agent.

The notes will price Dec. 9.

The Cusip number is 61766F706.

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