Morgan Stanley plans buffered PLUS linked to SPDR S&P MidCap 400 ETF

By Angela McDaniels

Tacoma, Wash., Dec. 23 – Morgan Stanley Finance LLC plans to price 0% buffered Performance Leveraged Upside Securities due Jan. 2, 2025 linked to the SPDR S&P MidCap 400 exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

If the final share price is greater than the initial share price, the payout at maturity will be par plus 110% of the ETF return, subject to a maximum return of 50%.

If the final share price is less than or equal to the initial share price but has decreased from the initial share price by no more than 10%, the payout will be par.

If the final share price has decreased from the initial share price by more than 10%, investors will lose 1% for every 1% decline beyond 10%.

The notes will be guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

The notes will price Dec. 27.

The Cusip number is 61769H6H3.

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