Morgan Stanley plans leveraged buffered notes linked to SPDR S&P 500

By Susanna Moon

Chicago, July 8 – Morgan Stanley plans to price 0% securities with leveraged upside participation to a cap and fixed percentage buffered downside due Feb. 5, 2019 linked to the SPDR S&P 500 exchange-traded fund trust, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 150% of any fund gain, up to a maximum return of 35% to 40%. The exact cap will be set at pricing.

Investors will receive par if the fund falls by up to 10% and will lose 1% for every 1% decline beyond 10%.

Morgan Stanley & Co. LLC and Wells Fargo Securities LLC are the agents.

The notes will price on July 31 and settle on Aug. 5.

The Cusip number is 61761JC98.

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