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Morgan Stanley plans callable buffered range accrual notes on S&P 500
By Susanna Moon
Chicago, Aug. 7 – Morgan Stanley Finance LLC plans to price callable buffered range accrual notes due Feb. 28, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at an annual rate of 5.15% for each day that the index closes at or above the barrier level, 80% of the initial level. Interest is payable monthly.
The payout at maturity will be par unless the index falls by more than 20%, in which case investors will lose 1% for each 1% decline beyond 20%.
The notes will be callable at par on any interest payment date after one year.
The notes are guaranteed by Morgan Stanley,
Morgan Stanley & Co. LLC is the agent.
The notes will price on Aug. 28.
The Cusip number is 61768CNP8.
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