Morgan Stanley to price buffered participation securities on S&P 500

By Devika Patel

Knoxville, Tenn., Dec. 10 – Morgan Stanley Finance LLC plans to price 0% buffered participation securities due Dec. 27, 2023 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

The payout at maturity will be par plus at least 100% of any index gain. The exact participation rate will be set at pricing.

Investors will receive par if the index falls by up to 30% and will lose 1% for every 1% decline beyond the 30% buffer.

Morgan Stanley & Co. LLC is the agent.

The notes (Cusip: 61768DRV9) will price on Dec. 21 and settle on Dec. 27.

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