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Morgan Stanley to price trigger in-step securities linked to S&P 500
By Marisa Wong
Morgantown, W.Va., Jan. 26 – Morgan Stanley Finance LLC plans to price 0% capped trigger in-step securities due Jan. 29, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the final index level is greater than or equal to the downside threshold, 80% of the initial index level, the payout at maturity will be par of $10 plus the greater of the step return of 10% and the index return, subject to a maximum return of 31% to 32%. If the final index level is less than the downside threshold, investors will have one-to-one exposure to the index’s decline from its initial level.
Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as dealer.
The notes will price on Jan. 29.
The Cusip number is 61768M527.
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