Morgan Stanley to price market-linked notes tied to index, two funds

By Toni Weeks

San Luis Obispo, Calif., Nov. 19 – Morgan Stanley plans to price 0% market-linked notes due Nov. 25, 2020 linked to a basket of two exchange-traded funds and one index, equally weighted, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the S&P 500 index, the iShares MSCI Emerging Markets exchange-traded fund and the iShares U.S. Real Estate ETF.

The payout at maturity will be par plus the supplemental redemption amount, if any. The supplemental redemption amount will be the average of the basket percentage change measured on six annual determination dates during the life of the notes.

Investors will receive at least par.

The notes (Cusip: 61761JUW7) are expected to price Nov. 20 and settle Nov. 25.

Morgan Stanley & Co. LLC is the agent.

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