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Morgan Stanley plans trigger step performance notes linked to S&P 500
By Devika Patel
Knoxville, Tenn., Sept. 4 – Morgan Stanley plans to price 0% trigger step performance securities due Sept. 30, 2019 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes at or above the initial level, the payout at maturity will be par of $10 plus the greater of any index gain and the step return of 30% to 37%. The exact step return will be set at pricing.
Investors will receive par if the index falls by up to 25% and will be fully exposed to any losses if the index finishes below the 75% trigger level.
Morgan Stanley & Co. LLC and UBS Financial Services Inc. are the agents.
The notes will price on Sept. 24 and settle on Sept. 30.
The Cusip number is 61765R354.
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