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Morgan Stanley plans buffered digital notes tied to SPDR S&P Biotech
By Susanna Moon
Chicago, Feb. 24 – Morgan Stanley Finance LLC plans to price 0% buffered digital notes linked to the SPDR S&P Biotech exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will mature between 18 and 21 months after pricing.
If the index finishes at or above the 85% threshold level, the payout at maturity will be the maximum settlement amount of between $1,147.90 and $1,173.90 per $1,000 principal amount.
Otherwise, investors will lose 1.1765% for each 1% decline beyond 15%.
The exact deal terms will be set at pricing.
Morgan Stanley & Co. LLC is the agent.
The notes are guaranteed by Morgan Stanley.
The Cusip number is 61768CFP7.
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