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Morgan Stanley plans contingent income autocallables linked to Halliburton
By Susanna Moon
Chicago, Feb. 3 – Morgan Stanley plans to price contingent income autocallable securities due Feb. 9, 2018 linked to Halliburton Co. shares, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly payment at an annual rate of 11.2% if the shares close at or above the 75% barrier level on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above the initial price on any of the first 11 determination dates.
The payout at maturity will be par plus the final coupon unless the shares finish below the 75% trigger level, in which case investors will receive a number of Halliburton shares equal to $10 divided by the initial price or, at the issuer’s option, the cash equivalent.
Morgan Stanley & Co. LLC is the agent with Morgan Stanley Wealth Management handling distribution.
The notes will price on Feb. 6 and settle on Feb. 11.
The Cusip number is 61764V166.
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