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Morgan Stanley plans market plus notes with 77% trigger on S&P 500
By Susanna Moon
Chicago, March 27 - Morgan Stanley plans to price 0% market plus notes due Oct. 1, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the index ever closes below the 77% knock-out level during the life of the notes.
If a knock-out event has not occurred, the payout at maturity will be par plus the greater of any index gain and a contingent minimum return of 0%.
Otherwise, the payout will be par plus the index return, with full exposure to losses.
Morgan Stanley & Co. LLC is the agent with J.P. Morgan Securities LLC as dealer.
The notes will price on March 28 and settle on April 3.
The Cusip number is 61761JEP0.
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