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Morgan Stanley plans callable contingent income notes on index, fund
By Sarah Lizee
Olympia, Wash., July 11 – Morgan Stanley Finance LLC plans to price callable contingent income securities due July 26, 2022 linked to the iShares MSCI Emerging Markets ETF and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Each six months, the notes will pay a coupon at the rate of 7.65% per year if each asset closes at or above the coupon barrier level, 70% of the initial level, on the observation date for that period.
If each asset finishes at or above the downside threshold level, 70% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the lesser-performing asset’s decline from its initial level.
Beginning Jan. 28, 2020, the notes will be callable at par on any interest payment date.
Morgan Stanley & Co. LLC is the agent.
The notes will price on July 19.
The Cusip number is 61769HJC0.
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