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Morgan Stanley plans contingent income autocallables on Abercrombie
By Susanna Moon
Chicago, Feb. 14 - Morgan Stanley plans to price contingent income autocallable securities due Feb. 29, 2016 linked to Abercrombie & Fitch Co. shares, according to an FWP with the Securities and Exchange Commission.
The notes will pay a contingent monthly payment at an annual rate of 10% if Abercrombie stock closes at or above the 70% barrier level on the determination date for that month.
If the shares close at or above the initial level on any quarterly determination date after two years, the notes will be called at par plus the contingent coupon.
If Abercrombie stock finishes at or above the 70% trigger level, the payout at maturity will be par plus the contingent payment.
Otherwise, investors will be fully exposed to any losses.
Morgan Stanley & Co. LLC is the agent.
The notes will price on Feb. 26 and settle on Feb. 28.
The Cusip number is 61761JCX5.
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