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Morgan Stanley plans buffered notes with contingent coupon on S&P 500
By Susanna Moon
Chicago, Dec. 3 - Morgan Stanley plans to price buffered securities with contingent coupon due Dec. 28, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 6.25% if the index closes at or above the 80% barrier level on a monthly determination date.
If the index finishes at or above the 80% buffer level, the payout at maturity will be par.
Otherwise, investors will lose 1% for every 1% decline beyond 20%.
Morgan Stanley & Co. LLC is the agent.
The Cusip number is 61761JAN9.
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