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Morgan Stanley plans market plus notes due 2017 linked to S&P 500
By Susanna Moon
Chicago, Feb. 24 – Morgan Stanley plans to price 0% market plus notes due Aug. 30, 2017 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
A knock-out event occurs if the index finishes below the initial level by more than the 20.5% knock-out buffer amount.
If a knock-out event does not occur, the payout at maturity will be par plus the greater of the contingent minimum return of 0% and the index return.
If the index finishes below the 79.5% knock-out level, the payout will be par plus the index return, with full exposure to any losses.
Morgan Stanley & Co. LLC is the agent with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.
The notes will price on Feb. 26 and settle on March 2.
The Cusip number is 61761JY60.
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