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Morgan Stanley plans contingent income notes tied to S&P 500, Russell
By Susanna Moon
Chicago, June 12 – Morgan Stanley Finance LLC plans to price contingent income securities due June 30, 2022 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
The notes will pay a contingent monthly coupon at an annual rate of 5.5% to 6% if each index closes at or above its 70% barrier level on the observation date for that month.
The payout at maturity will be par unless either index finishes below its 70% barrier level, in which case investors will be fully exposed to the decline of the worse performing index.
Morgan Stanley & Co. LLC is the agent, with Morgan Stanley Wealth Management handling distribution.
The notes will price on June 27 and settle on June 30.
The Cusip number is 61768CKH9.
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