Morgan Stanley plans trigger step securities linked to Euro Stoxx 50

By Angela McDaniels

Tacoma, Wash., May 22 – Morgan Stanley Finance LLC plans to price 0% trigger step securities due May 28, 2021 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will be 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 step return and the index return. The step return is expected to be 47% to 51% and will be set at pricing. Investors will receive par if the index declines by 25% or less and will be fully exposed to the index’s decline from its initial level if it declines beyond 25%.

Morgan Stanley & Co. LLC and UBS Financial Services Inc. are the agents.

The notes will price May 26.

The Cusip number is 61766W642.

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