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Morgan Stanley plans trigger step securities tied to Stoxx Europe 600
By Tali Rackner
Norfolk, Va., July 22 – Morgan Stanley Finance LLC plans to price 0% trigger step securities due July 31, 2020 linked to the Stoxx Europe 600 Banks index, according to an FWP filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the index finishes above its initial level, the payout at maturity will be par of $10 plus the greater of the gain and the step return of 51% to 61%. The exact step return will be set at pricing.
If the index falls but finishes at or above its downside threshold level, 70% of the initial level, the payout will be par. Otherwise, investors will be fully exposed to any losses.
Morgan Stanley & Co. LLC is the agent. UBS Financial Services Inc. is the dealer.
The notes are expected to price July 27 and settle on July 29.
The Cusip number is 61766B739.
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