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Morgan Stanley to sell dual directional trigger PLUS on S&P 500 index
By Devika Patel
Knoxville, Tenn., April 11 – Morgan Stanley Finance LLC plans to price 0% dual directional trigger Performance Leveraged Upside Securities due April 30, 2024 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
If the index finishes at or above its initial level, the payout at maturity will be par plus at least 110% of the gain, with the exact participation rate to be set at pricing.
If the index falls but finishes at or above the 70% trigger level, the payout will be par plus the absolute value of the return.
Otherwise, investors will lose 1% for each 1% decline of the index from its initial level.
Morgan Stanley & Co. LLC is the agent.
The notes (Cusip: 61768D4T9) will price on April 25 and settle on April 30.
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