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Morgan Stanley plans trigger step performance notes linked to S&P 500
By Susanna Moon
Chicago, Sept. 6 - Morgan Stanley plans to price 0% trigger step performance securities due March 31, 2017 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes at or above the initial level, the payout at maturity will be par of $10 plus the greater of any index gain and the step return of 20% to 26%. The exact step level will be set at pricing.
Investors will receive par if the index falls by up to 20% and will be fully exposed to any losses if the index finishes below the 80% trigger level.
Morgan Stanley & Co. LLC is the agent, with UBS Financial Services Inc. as dealer.
The notes will price on Sept. 25 and settle on Sept. 30.
The Cusip number is 61762P740.
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