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Morgan Stanley lifts cap on capital-protected notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., May 27 - Morgan Stanley increased the expected cap on its upcoming zero-coupon capital-protected notes due June 26, 2014 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the final index level is greater than the initial level, the payout at maturity will be par of $10 plus the gain, subject to a maximum return of 56% to 66%. If the final index level is less than the initial level, the payout will be par.
Previously, the maximum return was expected to be 40% to 50%.
The notes will price and settle in June.
Morgan Stanley & Co. Inc. is the agent.
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