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Morgan Stanley eyes seven-year trigger gears on Russell 2000, S&P 500
By Devika Patel
Knoxville, Tenn., June 21 – Morgan Stanley Finance LLC plans to price 0% trigger gears due June 30, 2025 linked to the Russell 2000 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
If the return of both indexes is positive, the payout at maturity will be par of $10 plus the return of the lesser performing index multiplied by the upside leverage, which will be between 1.78 and 1.8 and will be set at pricing.
If either index declines but both end at or above the 55% downside threshold then the payout will be par.
Investors will lose 1% for each 1% decline of the lesser performing index from its initial level if either index finishes below the downside threshold.
Morgan Stanley & Co. LLC and UBS Financial Services Inc. are the agents.
The notes (Cusip: 61768Q874) will price on June 25 and settle on June 28.
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