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Morgan Stanley plans to price buffered PLUS due 2023 linked to S&P 500
By Angela McDaniels
Tacoma, Wash., May 21 – Morgan Stanley Finance LLC plans to price 0% buffered Performance Leveraged Upside Securities due March 1, 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 final index level is greater than the initial index level, the payout at maturity will be par plus at least 106% of the index return. The exact leverage factor will be set at pricing.
If the final index level is less than or equal to the initial index level but has decreased from the initial index level by no more than 20%, the payout will be par.
If the final index level has decreased from the initial index level by more than 20%, investors will lose 1% for every 1% decline beyond 20%.
Morgan Stanley & Co. LLC is the agent.
The notes will price May 24.
The Cusip number is 61769HCT0.
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