Morgan Stanley plans dual directional trigger PLUS linked to Apple

By Wendy Van Sickle

Columbus, Ohio, Nov. 1 – Morgan Stanley plans to price 0% dual directional trigger Performance Leveraged Upside Securities due Dec. 5, 2018 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.

If the final share price is greater than the initial share price, the payout at maturity will be par of $10 plus 150% of the stock return, subject to a maximum of $12.41 per PLUS.

If the final share price is less than or equal to the initial share price but greater than or equal to the trigger share price, the payout will be par plus the absolute value of the stock return. The trigger share price will be 80% of the initial share price.

If the final share price is less than the trigger share price, investors will lose 1% for each 1% decline.

Morgan Stanley is the agent.

The notes (Cusip: 61766A574) will price on Nov. 16.

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