Morgan Stanley intends to price buffered PLUS tied to three stocks

By Sarah Lizee

Olympia, Wash., Nov. 20 – Morgan Stanley Finance LLC plans to price 0% buffered Performance Leveraged Upside Securities due May 26, 2021 linked to the least performing of the common stocks of Bank of America Corp., Humana Inc. and Illinois Tool Works Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If the return of each stock is positive, the payout at maturity will be par plus 233% of the return of the least performing stock.

Investors will receive par if any stock declines by up to 20% and will lose 1% for every 1% that the least performing stock declines beyond 20%.

Morgan Stanley & Co. LLC is the agent.

The notes will price on Nov. 21.

The Cusip number is 61769HS48.

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