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Morgan Stanley to price buffered participation securities on S&P 500
By Sarah Lizee
Olympia, Wash., Jan. 7 – Morgan Stanley Finance LLC plans to price 0% buffered participation securities due Feb. 1, 2024 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The payout at maturity will be par plus at least 100% of any index gain. The exact participation rate will be set at pricing.
Investors will receive par if the index falls by up to 36% and will lose 1% for every 1% decline beyond the 36% buffer.
Morgan Stanley & Co. LLC is the agent.
The notes (Cusip: 61768DVM4) will price on Jan. 28.
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