Morgan Stanley plans dual directional trigger jump notes on S&P 500

By Tali Rackner

Minneapolis, Jan. 5 – Morgan Stanley Finance LLC plans to price 0% dual directional trigger jump securities due Jan. 12, 2023 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 index finishes at or above its initial level, the payout at maturity will be par of $10 plus the greater of the index return and 35.7%.

If the index falls but finishes at or above the trigger level, 80% of the initial index level, the payout will be par plus the absolute value of the index return.

If the index finishes below the trigger level, investors will lose 1% for every 1% that the index declines from its initial level.

Morgan Stanley & Co. LLC is the agent.

The notes are expected to price on Jan. 8 and settle on Jan. 11.

The Cusip number is 61768M279.

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