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Morgan Stanley to price 0% PLUS notes linked to S&P 500
By Angela McDaniels
Seattle, May 22 - Morgan Stanley plans to price an offering of Performance Leveraged Upside Securities (PLUS) due July 20, 2008 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The securities will price and settle in June.
The payout at maturity will be par of $10 plus double any index gain, subject to a maximum return that is expected to be 12% to 14% and will be determined at pricing. Investors will be fully exposed to any index decline.
Morgan Stanley said it will apply to list the securities on the American Stock Exchange under the symbol "SER."
Morgan Stanley & Co. Inc. will be the agent.
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