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Morgan Stanley to price trigger PLUS on Energy Select Sector SPDR
By Wendy Van Sickle
Columbus, Ohio, Nov. 3 – Morgan Stanley plans to price 0% trigger Performance Leveraged Upside Securities due May 18, 2017 tied to the Energy Select Sector SPDR Fund, according to an FWP with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par plus 300% of the fund return, up to a maximum return of 23%.
Investors will receive par if the fund declines by 10% or less and will be fully exposed to the fund’s decline from its initial level if it falls by more than 10%.
Morgan Stanley & Co. LLC is the agent.
The notes will price Nov. 13 and settle Nov. 18.
The Cusip number is 61765U126.
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