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Morgan Stanley plans dual directional buffered PLUS linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Oct. 7 – Morgan Stanley Finance LLC plans to price 0% dual directional buffered Performance Leveraged Upside Securities due Oct. 23, 2024 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus at least 105% of the index return. The exact leverage factor will be set at pricing. If the index declines by 20% or less, the payout will be par plus the absolute value of the index return. Otherwise, investors will lose 1% for every 1% that the index declines beyond 20%.
The notes will be guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
The notes will price Oct. 18.
The Cusip number is 61769HXF7.
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