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Morgan Stanley plans six-year trigger lookback notes tied to S&P 500
By Susanna Moon
Chicago, March 5 – Morgan Stanley Finance LLC plans to price 0% trigger participation securities due March 31, 2025 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par plus the lookback gain. The lookback value will be the highest closing value of the index observed on the observation dates.
If the index falls by up to 35%, the payout will be par.
If the index finishes below its 65% trigger level, investors will lose 1% per 1% decline.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
The notes will price on March 26.
The Cusip number is 61768D2L8.
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