Morgan Stanley plans to price trigger PLUS tied to Gold Miners ETFs

By Wendy Van Sickle

Columbus, Ohio, July 15 – Morgan Stanley Finance LLC plans to price 0% trigger Performance Leveraged Upside Securities due July 22, 2022 linked to the lesser performing of the VanEck Vectors Gold Miners ETF and the VanEck Vectors Junior Gold Miners ETF, according to an FWP filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If each ETF finishes above its initial level, the payout at maturity will be par plus 150% of the lesser-performing ETF’s return, subject to a maximum payout that is expected to be at least 180% of par and will be set at pricing.

If the final level of either ETF is less than or equal to its initial level but the final level of each ETF is greater than or equal to its trigger level, the payout will be par. For each ETF, the trigger level is 70% of its initial level.

If the final level of either ETF is less than its trigger level, investors will be exposed to the decline of the lesser-performing ETF from its initial level.

Morgan Stanley & Co. LLC is the agent.

The notes will price on July 19 and settle on July 24.

The Cusip number is 61769HLP8.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.