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Morgan Stanley to price contingent income notes linked to Russell 2000
By Angela McDaniels
Tacoma, Wash., Aug. 20 - Morgan Stanley plans to price contingent income securities due Aug. 29, 2017 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly payment of $8.3333 per $1,000 principal amount of notes, which is equivalent to 10% per year, if the index closes at or above the downside threshold level on the determination date for that month. Otherwise, no payment will be made that month. The downside threshold level will be 70% of the index's initial level.
If the final index level is greater than or equal to the downside threshold level, the payout at maturity will be par plus the contingent monthly payment. If the final index level is less than the downside threshold level, investors will be fully exposed to the decline of the index from the initial level.
Morgan Stanley & Co. LLC is the agent.
The notes are expected to price Aug. 24 and settle Aug. 29.
The Cusip number is 617482X58.
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