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Morgan Stanley plans trigger step performance notes linked to S&P 500
By Marisa Wong
Madison, Wis., Nov. 7 - Morgan Stanley plans to price 0% trigger step performance securities due Nov. 30, 2017 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes at or above the initial level, the payout at maturity will be par of $10 plus the greater of any index gain and the step return of 20% to 25%. The exact step return will be set at pricing.
Investors will receive par if the index falls by up to 20% and will be fully exposed to any losses if the index finishes below the 80% trigger level.
Morgan Stanley & Co. LLC is the agent, with UBS Financial Services Inc. as dealer.
The notes will price on Nov. 25 and settle on Nov. 29.
The Cusip number is 61762W554.
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