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Morgan Stanley eyes dual directional buffered participation notes on S&P
By Sarah Lizee
Olympia, Wash., July 29 – Morgan Stanley Finance LLC plans to price 0% dual directional buffered participation securities due Aug. 22, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
If the index finishes above the initial level, the payout at maturity will be par plus 102.5% of the gain of the index.
If the index falls by up to 22%, the payout will be par plus the absolute value of the return of the index.
Otherwise, investors will lose 1% for each 1% loss of the index beyond the buffer.
Morgan Stanley & Co. LLC is the agent.
The notes will price on Aug. 22.
The Cusip number is 61769HMT9.
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