Morgan Stanley plans enhanced buffered jump notes tied to S&P, Russell

By Angela McDaniels

Tacoma, Wash., Nov. 22 – Morgan Stanley Finance LLC plans to price 0% enhanced buffered jump securities due March 4, 2021 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

If each index’s final level is greater than or equal to its downside threshold value, 90% of its initial level, the payout at maturity will be par plus the upside payment, which is expected to be 9% to 11% and will be set at pricing. If the final level of either index is less than its downside threshold value, investors will lose 1% for every 1% that the lesser-performing index declines beyond 10%.

The notes will be guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

The notes will price Nov. 27.

The Cusip number is 61769HP25.

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