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Morgan Stanley plans trigger participation notes linked to S&P 500
By Sarah Lizee
Olympia, Wash., Jan. 10 – Morgan Stanley Finance LLC plans to price 0% trigger participation securities due Feb. 1, 2024 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 final index value is greater than or equal to the initial value, investors will receive par plus the upside payment, which will be at least 100% of the index gain in the highest weekly closing value achieved during the term of the securities as compared to the initial value.
If the index declines but by no more than 35%, investors will receive par.
If the index declines by more than 35%, they will lose 1% for every 1% decline of the index from its initial level.
Morgan Stanley & Co. LLC is the agent.
The notes are expected to price on Feb. 1.
The Cusip number is 61768DYN9.
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