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Morgan Stanley plans to price trigger PLUS linked to three ETFs
By Angela McDaniels
Tacoma, Wash., June 28 - Morgan Stanley plans to price 0% trigger Performance Leveraged Upside Securities due July 25, 2014 linked to a basket of exchange-traded funds, according to an FWP filing with the Securities and Exchange Commission.
The basket includes equal weights of the SPDR S&P 500 ETF trust, the iShares MSCI Emerging Markets index fund and the iShares MSCI EAFE index fund.
The payout at maturity will be par of $10 plus 150% of any increase in the basket, subject to a maximum return of 50% to 60% that will be set at pricing.
If the final basket level is greater than 85% of the initial level and less than or equal to the initial level, the payout will be par.
If the final basket level is 85% of the initial level or less, investors will be fully exposed to the decline.
The notes (Cusip: 61760E457) will price July 25 and settle July 28.
Morgan Stanley & Co. LLC is the agent.
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