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Morgan Stanley to price capped buffer gears linked to S&P 500 index
By Angela McDaniels
Tacoma, Wash., Aug. 13 – Morgan Stanley Finance LLC plans to price 0% capped buffer gears due Feb. 26, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par of $10 plus two times the index return, subject to a maximum return that is expected to be 14% to 15.5% and will be set at pricing. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that the index declines beyond 10%.
The notes will be guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC and UBS Financial Services Inc. are the agents.
The notes will price Aug. 27.
The Cusip number is 61769Q733.
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