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Morgan Stanley plans contingent income autocallables on three indexes
By Marisa Wong
Madison, Wis., Nov. 19 – Morgan Stanley plans to price contingent income autocallable securities due Nov. 26, 2029 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to an FWP with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if each index closes at or above its 85% coupon threshold level on the determination date for that quarter.
Following an initial five-year non-call period, the notes will be redeemed at par plus the contingent coupon if each index closes at or above 90% of its initial level on any quarterly determination date beginning Nov. 25, 2019.
If each index finishes at or above its 50% downside threshold level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses of the worst-performing index.
Morgan Stanley & Co. LLC is the agent.
The notes will price on Nov. 20 and settle on Nov. 25.
The Cusip number is 61761JUV9.
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