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Morgan Stanley plans partial principal at risk notes on S&P, Russell
By Sarah Lizee
Olympia, Wash., May 13 – Morgan Stanley Finance LLC plans to price 0% equity-linked partial principal at risk securities due Dec. 6, 2021 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If each index finishes above its initial level, the payout at maturity will be par plus the return of the lesser-performing index, subject to a maximum return of 17.25% to 22.25%.
If either index finishes below its initial level, investors will be exposed to the decline of the lesser-performing index, subject to a minimum payout of 95% of par.
Morgan Stanley & Co. LLC is the agent.
The notes will price on May 31.
The Cusip number is 61768D8H1.
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