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Morgan Stanley eyes trigger PLUS due 2024 tied to S&P 500, Russell
By Sarah Lizee
Olympia, Wash., Jan. 7 – Morgan Stanley Finance LLC plans to price 0% trigger Performance Leveraged Upside Securities due Feb. 5, 2024 linked to the worse performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above the initial level, the payout at maturity will be par plus 400% of the gain of the worse performing index up to a maximum return of 80%.
If either index falls by up to 40%, the payout at maturity will be par.
If either index finishes below its 60% trigger level, investors will be fully exposed to any losses of the worse performing index.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
The notes will price on Jan. 31.
The Cusip number is 61768DWG6.
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