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Morgan Stanley to price trigger step securities on Stoxx basket
By Sarah Lizee
Olympia, Wash., Sept. 16 – Morgan Stanley Finance LLC plans to price 0% trigger step securities due July 31, 2023 linked to a basket of indexes including the Stoxx Europe 600 index with a 70% weight and the Euro Stoxx Mid index with a 30% weight, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
If the basket return is zero or positive, the payout at maturity will be par of $10 plus the greater of the basket return and the step return of 45%.
Investors will receive par if the basket declines by 28% to 30.5% or less and will lose 1% for each 1% decline from its initial level if the basket falls more than 28% to 30.5%. The exact downside threshold will be set at pricing.
UBS Financial Services Inc. and Morgan Stanley & Co. LLC are the agents.
The notes will price on Sept. 20.
The Cusip number is 61770C236.
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