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Morgan Stanley plans contingent income notes due 2017 tied to S&P 500
By Susanna Moon
Chicago, Dec. 4 - Morgan Stanley plans to price contingent income securities due Dec. 27, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly payment at an annualized rate of 6% if the index closes at or above the 75% barrier level on the determination date for that month.
If the index finishes at or above the 75% trigger level, the payout at maturity will be par plus the contingent monthly payment.
Otherwise, investors will be fully exposed to any losses.
Morgan Stanley & Co. LLC will be the agent.
The notes will price on Dec. 21 and settle on Dec. 27.
The Cusip number is 61761JAP4.
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