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Morgan Stanley plans buffered PLUS with 20% cap linked to S&P 500
By Susanna Moon
Chicago, Jan. 31 - Morgan Stanley plans to price 0% buffered Performance Leveraged Upside Securities due Feb. 28, 2014 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, up to a maximum payout of $1,200 per $1,000 principal amount. The exact cap will be set at pricing.
Investors will receive par if the index falls by up to 10% and will lose 1% for each 1% drop beyond 10%.
Morgan Stanley & Co. LLC is the agent.
The notes will price on Feb. 23 and settle on Feb. 28.
The Cusip is 617482G24.
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