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Morgan Stanley plans dual directional buffered PLUS on S&P, Russell
Chicago, Feb. 27 – Morgan Stanley Finance LLC plans to price 0% dual directional buffered Performance Leveraged Upside Securities due Sept. 2, 2021 linked to the worse performing of the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
If both indexes finish above their initial levels, the payout at maturity will be par plus 150% of the gain of the worse performing index.
If either index declines but both end at or above 80% of their initial values, the payout will be par plus the absolute value of the worse performing index.
If at least one index finishes below 80% of its initial value, the payout will be the return of the worst performing index beyond the 20% buffer.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
The notes will price on Feb. 28 and settle on March 5.
The Cusip number is 61768DN92.
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