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Morgan Stanley to price buffered PLUS due 2024 tied to index basket
By Wendy Van Sickle
Columbus, Ohio, Feb. 26 – Morgan Stanley Finance LLC plans to price 0% buffered Performance Leveraged Upside Securities due March 1, 2024 linked to a basket of the S&P 500 index with a 65% weight and the Euro Stoxx 50 index with a 35% weight, according to an FWP filing with the Securities and Exchange Commission.
If the final basket level is greater than the initial level, the payout at maturity will be par plus at least 1.5 times the basket percentage change.
If the basket finishes flat or falls by up to 30%, the payout will be par.
If the final basket level is less than the initial index level by more than the buffer amount of 30%, investors will lose 1% for each 1% the basket declines beyond the 30% buffer.
Morgan Stanley & Co. LLC is the agent.
The notes will price on Feb. 27 and settle on March 4.
The Cusip number is 61768DS71.
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