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Morgan Stanley plans buffered participation securities on Dow, Nasdaq, S&P
By Sarah Lizee
Olympia, Wash., Aug. 18 – Morgan Stanley Finance LLC plans to price 0% buffered participation securities due Aug. 22, 2024 linked to the worse performing of the Dow Jones industrial average, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes above the initial level, the payout at maturity will be par plus at least 101% of the gain of the laggard index.
If either index falls but not by more than 20%, the payout will be par.
Otherwise, investors will lose 1% for each 1% loss of lesser-performing index beyond the buffer.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
The notes will price on Aug. 19.
The Cusip number is 61771BN67.
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