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Morgan Stanley plans dual directional contingent buffer notes on S&P
By Marisa Wong
Morgantown, W.Va., March 15 – Morgan Stanley Finance LLC plans to price 0% capped dual directional contingent buffer equity notes due April 3, 2019 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 return is positive, the payout at maturity will be par plus the index gain, subject to a maximum return of 8%.
If the index falls by up to 16.12%, the payout will be par plus the absolute value of the index return.
If the index falls by more than the 16.12% contingent buffer, investors will be fully exposed to any losses.
Morgan Stanley & Co. LLC is the agent with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.
The notes will price on March 16.
The Cusip number is 61768CM79.
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