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Morgan Stanley plans to price bear market PLUS linked to Russell
By Toni Weeks
San Diego, May 27 - Morgan Stanley plans to price 0% bear market Performance Leveraged Upside Securities due November 2011 linked inversely to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is negative, the payout at maturity will be par plus 2% for every 1% that the index declines, up to a maximum payment of $10.975 to $11.275 per $10 security. The exact maximum payment will be determined at pricing.
If the index return is positive, the payout will be par minus 1% for every 1% gain in the index, subject to a maximum loss of 90%.
The securities (Cusip: 61760E358) are expected to price in May and settle in June
Morgan Stanley & Co. Inc. is the agent.
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