Morgan Stanley plans accelerated return securities on S&P 500

By Marisa Wong

Morgantown, W.Va., June 26 – Morgan Stanley Finance LLC plans to price 0% accelerated return securities due June 30, 2021 linked to 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 index return is positive, the payout at maturity will be par plus 125% of the index return. If the index return is negative but the final index level is greater than or equal to the trigger level, 70% of the initial level, the payout will be par. If the final index level is less than the trigger level, investors will be fully exposed to the index’s decline from its initial level.

Morgan Stanley & Co. LLC is the agent.

The notes will price on June 27.

The Cusip number is 61768CKS5.

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