Morgan Stanley plans lookback trigger step notes tied to Euro Stoxx 50

By Marisa Wong

Morgantown, W.Va., April 20 – Morgan Stanley Finance LLC plans to price 0% lookback trigger step securities due April 29, 2022 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If the index return is zero or positive, the payout at maturity will be par of $10 plus the greater of the index return and the step return of 48% to 52%.

If the index declines by 20% or less, the payout will be par.

If the index declines beyond 20%, investors will be exposed to the index’s decline from its initial level.

The initial index level will be the lowest closing level of the index during the two-month period from pricing through June 21.

Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as dealer.

The notes will price on April 21.

The Cusip number is 61766W204.

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