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Morgan Stanley to price autocallable securities linked to Russell 2000
By Angela McDaniels
Tacoma, Wash., July 12 - Morgan Stanley plans to price 0% autocallable securities due Jan. 12, 2012 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be called at 117% of par if the index closes at or above the initial index level on April 7, 2011.
If the notes are not called and the final index level is greater than or equal to the initial index level, the payout at maturity will be 134% of par. Investors will receive par if the index declines by 20% or less and will be fully exposed to the decline if it declines by more than 20%.
The notes will price and settle in July.
Morgan Stanley & Co. Inc. is the agent.
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