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Morgan Stanley plans leveraged notes linked to CMS curve, S&P 500
By Susanna Moon
Chicago, March 14 - Morgan Stanley plans to price fixed-to-floating leveraged CMS curve and S&P 500 index-linked notes due March 31, 2034, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be fixed at 10% for the first year. After that, it will be 4 times the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate for each day that the index closes at or above the 75% barrier level, up to a maximum rate of 10%. Interest will be payable monthly and cannot be less than zero.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
The notes will settle on March 31.
The Cusip number is 61760QED2.
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