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Morgan Stanley plans contingent income autocallables linked to indexes
By Susanna Moon
Chicago, Nov. 17 – Morgan Stanley plans to price contingent income autocallable securities due Nov. 28, 2025 linked to the worst performing of the Russell 2000 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 7.5% if each index closes at or above its coupon barrier level, 69% of its initial level, on the determination date for that month.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any review date after six years.
The payout at maturity will be par plus the final contingent coupon unless either index finishes below the 50% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
Morgan Stanley & Co. LLC is the agent.
The notes will price on Nov. 24 and settle on Nov. 30.
The Cusip number is 61761JQ69.
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