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Morgan Stanley plans capped dual directional contingent buffered notes tied to S&P 500 index
New York, March 28 – Morgan Stanley Finance LLC plans to price 0% capped dual directional contingent buffered equity notes due April 16, 2019 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 return is positive, the payout at maturity will be par plus the index gain, subject to a maximum return of par plus 8%.
If the index falls by up to the knock-out buffer amount of 19.6%, the payout will be par plus the absolute value of the index return.
If the index falls by more than the 19.6% contingent buffer, investors will be fully exposed to any losses.
The final index level will be the average of its closing level on April 5, 2019, April 8, 2019, April 9, 2019, April 10, 2019 and April 11, 2019.
Morgan Stanley is agent with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.
The notes will price on March 29 and settle on April 4.
The Cusip number is 61768CQ59.
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