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Morgan Stanley to price PLUS linked to MSCI KLD 400 Social index
By Angela McDaniels
Tacoma, Wash., May 2 – Morgan Stanley Finance LLC plans to price 0% buffered Performance Leveraged Upside Securities due Dec. 3, 2021 linked to the MSCI KLD 400 Social index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The index is a price-return index with the goal of tracking the price performance of companies that exhibit positive environmental, social and governance characteristics. It excludes gambling and adult entertainment companies as well as companies that produce alcohol, tobacco, weapons, nuclear power or genetically modified organisms.
Each existing index component must have a MSCI ESG Rating above B and a MSCI ESG Controversies Score greater than zero. A company not currently included in the index must have an MSCI ESG Rating above BB and a MSCI ESG Controversies Score greater than 2 to be considered eligible for inclusion in the index.
If the index return is positive, the payout at maturity will be par of $10 plus 200% of the index return, subject to a maximum return of 17.25%. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that the index declines beyond 10%.
Morgan Stanley & Co. LLC is the agent.
The notes will price May 31.
The Cusip number is 61768Y364.
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