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Morgan Stanley plans buffered return enhanced notes linked to S&P 500
By Jennifer Chiou
New York, May 20 - Morgan Stanley plans to price 0% buffered return enhanced notes due June 15, 2010 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc. are the agents.
The payout at maturity will be par plus double any index gain, subject to a maximum return of at least 18.8%, with the exact amount to be determined at pricing. Investors will receive par if the index declines by 10% or less and will lose 1.1111% for every 1% that the index declines beyond 10%.
The notes are expected to price on May 22 and settle on June 1.
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