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Morgan Stanley plans 15-year contingent income notes tied to indexes
By Susanna Moon
Chicago, Nov. 6 – Morgan Stanley Finance LLC plans to price contingent income securities due Dec. 2, 2032 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The coupon will be fixed at 6.25% for the first five years. After that, the notes will pay a contingent quarterly coupon at an annual rate of 6.25% if each index closes at or above its 60% coupon barrier on the review date for that quarter.
The payout at maturity will be par unless either index finishes below its 50% downside threshold, in which case investors will be fully exposed to any losses of the worse performing index.
Morgan Stanley & Co. LLC is the agent.
The notes will price on Nov. 27 and settle on Nov. 30.
The Cusip number is 61768CSV0.
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