Morgan Stanley to price five-year buffered PLUS on S&P 500, Russell

By Marisa Wong

Morgantown, W.Va., May 8 – Morgan Stanley Finance LLC plans to price 0% buffered Performance Leveraged Upside Securities due May 18, 2023 linked to the worse performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If each index finishes at or above its initial level, the payout at maturity will be par of $10 plus 1.475 times the return of the worse performing index, capped at $15.90 per PLUS.

If either index falls but neither falls by more than 15.98%, the payout will be par. Investors will be exposed to any decline in the worse performing index beyond 15.98%.

Morgan Stanley & Co. LLC is the agent.

The notes will price on May 9.

The Cusip number is 61768Q346.

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