Morgan Stanley plans dual directional buffered notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., March 14 – Morgan Stanley Finance LLC plans to price 0% dual directional buffered equity notes due April 1, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Morgan Stanley.

If the final index level is greater than the initial index level, the payout at maturity will be par plus the lesser of the index return and 5%.

If the final index level is less than or equal to the initial index level but greater than or equal to the buffer value, 84.7% of the initial index level, the payout will be par plus the absolute value of the index return.

If the final index level is less than the buffer value, investors will lose 1.1806% for every 1% that the index declines beyond 15.3%.

Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.

The notes will price March 15.

The Cusip number is 61768D3G8.

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