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Morgan Stanley plans contingent buffer equity notes linked to S&P 500
By Susanna Moon
Chicago, June 26 - Morgan Stanley plans to price 0% contingent buffer equity notes due July 16, 2014 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
A knock-out event occurs if the index ever closes below the 80% trigger level on any day during the life of the notes.
If a knock-out event never occurs, the payout at maturity will be par plus the greater of the contingent minimum return of 3.92% and any index gain up to a maximum return of 15%.
If a knock-out event has occurred, the payout will be par plus the index return, with full exposure to any losses and any gains capped at 15%.
Morgan Stanley & Co. LLC is the agent with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as dealers.
The notes will price on June 28 and settle on July 3.
The Cusip number is 61761JJG5.
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