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Morgan Stanley plans 24- to 27-month buffered digital notes on S&P 500
By Marisa Wong
Morgantown, W.Va., July 14 – Morgan Stanley plans to price 0% buffered digital notes linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will mature between 24 and 27 months after pricing, or from July 2018 to October 2018.
If the index finishes at or above 80% of the initial level, the payout at maturity will be the maximum settlement amount of $1,073.50 to $1,086 per $1,000 principal amount.
If the index falls by more than 20%, investors will lose 1.25% for each 1% decline beyond 20%.
Morgan Stanley & Co. LLC is the agent.
The notes will price and settle in July.
The Cusip number is 61766BBL4.
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