Morgan Stanley plans dual directional trigger PLUS notes on S&P 500

By Toni Weeks

San Luis Obispo, Calif., Dec. 2 – Morgan Stanley plans to price 0% dual directional trigger Performance Leveraged Upside Securities due Jan. 5, 2021 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If the index finishes above the initial level, the payout at maturity will be par of $10 plus 111% of the index return.

If the index falls by up to the 65% trigger level, the payout will be par plus the absolute value of the return, up to a maximum return of 35%.

If the index falls by more than 35%, investors will be fully exposed to the decline in the index from the initial level.

Morgan Stanley & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.

The notes (Cusip: 61764M133) will price Dec. 30 and settle Jan. 5.

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