Morgan Stanley plans dual directional buffered PLUS on S&P, Russell

By Devika Patel

Knoxville, Tenn., Oct. 1 – Morgan Stanley Finance LLC plans to price 0% dual directional buffered Performance Leveraged Upside Securities due Nov. 2, 2022 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.

The notes are guaranteed by Morgan Stanley.

If both indexes finish above their initial levels, the payout at maturity will be par plus 115% of the gain of the worse performing index.

If either index falls but not by more than 15%, the payout will be par plus the absolute value of the lesser-performing index return.

Investors will lose 1% for each 1% decline in the worst performing index beyond 15%.

Morgan Stanley & Co. LLC is the agent.

The notes (Cusip: 61769HYD1) will price on Oct. 28 and settle on Oct. 31.

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