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Morgan Stanley plans 5.5% contingent income autocalls on Russell, Dow
By Susanna Moon
Chicago, Aug. 6 – Morgan Stanley Finance LLC plans to price contingent income autocallable securities due June 2, 2020 linked to the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 5.5% if each index closes at or above its 70% coupon barrier on the observation date for that month.
The notes will be called at par if each index closes at or above its initial level on any review date after six months.
The payout at maturity will be par unless either underlying index ever closes below its 70% downside threshold during the life of the notes, in which case investors will be fully exposed to any losses of the worse performing index.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
The notes will price on Aug. 28.
The Cusip number is 61768DBN4.
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