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Morgan Stanley plans autocallable securities linked to S&P 500
By Marisa Wong
Madison, Wis., May 6 – Morgan Stanley plans to price 0% autocallable securities due June 5, 2018 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be called at par plus a premium of 20% if the index closes at or above the call threshold level, 120% of the initial level, on Dec. 5, 2016.
If the notes are not called and the index gains, the payout at maturity will be par plus 115% of the index gain.
If the index falls by up to 15%, the payout will be par.
Otherwise, investors will be fully exposed to losses.
Morgan Stanley & Co. LLC is the agent.
The notes will price on May 29 and settle on June 3.
The Cusip number is 61764V836.
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