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Morgan Stanley to price callable buffered range accrual notes on Russell
By Sarah Lizee
Olympia, Wash., Oct. 21 – Morgan Stanley Finance LLC plans to price callable buffered range accrual securities due Oct. 30, 2024 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 5.5% for each day that the index closes at or above its 85% coupon barrier, payable monthly.
The notes will be callable at par on any interest payment date after one year.
The payout at maturity will be par unless the index falls by more than 15%, in which case investors will be exposed to any losses beyond the buffer.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the underwriter.
The notes will price on Oct. 25.
The Cusip number is 61769HA88.
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