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Morgan Stanley plans contingent income notes tied to Russell, S&P 500
By Susanna Moon
Chicago, Dec. 31 – Morgan Stanley plans to price contingent income securities due Jan. 29, 2031 linked to the worst performing of the Russell 2000 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8.5% if each index closes at or above its coupon barrier level, 70% of its initial level, on the determination date for that month.
The payout at maturity will be par plus the final contingent coupon unless either index finishes below the 50% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
Morgan Stanley & Co. LLC is the agent.
The notes will price on Jan. 26 and settle on Jan. 29.
The Cusip number is 61761JT74.
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