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Morgan Stanley plans 6.75%-8.75% six-month airbag yield notes on Yelp
By Susanna Moon
Chicago, Sept. 18 - Morgan Stanley plans to price 6.75% to 8.75% airbag yield optimization notes due March 26, 2014 linked to Yelp Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Yelp shares equal to $1,000 divided by the conversion price. The conversion price is 65% of the initial share price.
Morgan Stanley & Co LLC is the agent with UBS Financial Services Inc. as dealer.
The notes will price on Sept. 20 and settle on Sept. 25.
The Cusip number is 61762W158.
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