Morgan Stanley plans to sell trigger securities due 2022 tied to gold

By Tali Rackner

Norfolk, Va., Aug. 5 – Morgan Stanley plans to price 0% trigger securities due Aug. 31, 2022 linked to the price of gold, according to an FWP filing with the Securities and Exchange Commission.

If the gold return is positive, the payout at maturity will be par of $1,000 plus the return.

Investors will receive par if the gold return declines by less than 50% and will be fully exposed to the return’s decline from its initial level if it falls by 50% or more.

Morgan Stanley & Co. LLC is the agent.

The notes will price Aug. 26 and settle Aug. 31.

The Cusip number is 61762GEJ9.

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