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Morgan Stanley to price market plus notes due 2020 linked to S&P 500
By Kristen Daniels
New York, Jan. 10 – Morgan Stanley Finance LLC plans to price 0% market plus notes due July 15, 2020 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the index gains or falls by less than 22%, the payout at maturity will be the greater of either par or par plus the index return.
If the index falls by more than 22%, investors will fully participate in the losses in the index.
The final level will be the average of the index closing levels on the five consecutive market dates ending July 10, 2020.
Morgan Stanley & Co. LLC is the agent with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.
The notes will price on Jan. 11 and settle on Jan. 16.
The Cusip number is 61768DYM1.
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