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Morgan Stanley to price five-year buffered PLUS linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Jan. 14 – Morgan Stanley plans to price 0% buffered Performance Leveraged Upside Securities due Jan. 27, 2021 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the final basket level is greater than the initial basket level, the payout at maturity will be par plus 300% of the basket return, subject to a maximum return of at least 66% that will be set at pricing. The exact leverage factor will be set at pricing. Investors will receive par if the basket declines by 15% or less and will lose 1.1765% for every 1% that the basket declines beyond 15%.
Morgan Stanley & Co. LLC is the agent.
The notes will price Jan. 20.
The Cusip number is 61761JU98.
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