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Morgan Stanley to price contingent income notes on Russell, Euro Stoxx
By Angela McDaniels
Tacoma, Wash., April 1 – Morgan Stanley plans to price contingent income securities due April 30, 2030 linked to the worst performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 6.5% for the first five years. After that, the notes will pay a monthly contingent coupon at the rate of 6.5% per year if each index closes at or above its barrier level, 50% of its initial level, on the observation date for that month.
If each index finishes at or above its barrier level, the payout at maturity will be par. If either index finishes below its barrier level, investors will be fully exposed to the decline of the worst-performing index.
Morgan Stanley & Co. LLC is the agent.
The notes will price April 27 and settle April 30.
The Cusip number is 61761JXX2.
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