Morgan Stanley plans trigger absolute return step notes on Stoxx 50

By Sarah Lizee

Olympia, Wash., Oct. 9 – Morgan Stanley Finance LLC plans to price 0% trigger absolute return step securities due Oct. 31, 2023 linked to Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.

If the index finishes at or above its initial level, the payout at maturity will be par plus the greater of the gain and the step return of 60% to 65%.

If the index falls but finishes at or above the 70% downside threshold, the payout will be par plus the absolute value of the return.

Otherwise, investors will be fully exposed to any losses.

The notes are guaranteed by Morgan Stanley.

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

The notes will price on Oct. 29 and settle on Oct. 31.

The Cusip number is 61768T456.

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