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Morgan Stanley plans 15-year contingent 3.5% notes tied to indexes
By Susanna Moon
Chicago, Oct. 23 – Morgan Stanley Finance LLC plans to price contingent coupon notes due Oct. 28, 2032 linked to least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent annual coupon of 3.5% if each underlying index closes at or above its 60% coupon barrier on the observation for that year.
The payout at maturity will be par plus 50% of any gain of the worse performing index.
Morgan Stanley is the guarantor.
Morgan Stanley & Co. LLC is the agent.
The notes will price on Oct. 25.
The Cusip number is 61768CSH1.
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