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Morgan Stanley plans callable contingent income notes on Russell, S&P
By Sarah Lizee
Olympia, Wash., March 7 – Morgan Stanley Finance LLC plans to price callable contingent income securities due March 15, 2024 linked to the 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 quarterly coupon of at least 6.35% per annum if each index closes at or above its 55% coupon barrier on the observation date for that period.
The notes are callable at par on any quarterly redemption date beginning on Sept. 16.
The payout at maturity will be par unless either index finishes below its 55% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing index.
The notes are guaranteed by Morgan Stanley.
The agent is Morgan Stanley & Co. LLC.
The notes will price on March 8.
The Cusip number is 61768D2Q7.
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