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Morgan Stanley eyes dual directional trigger jump notes on indexes
By Sarah Lizee
Olympia, Wash., July 18 – Morgan Stanley Finance LLC plans to price 0% dual directional trigger jump securities due July 31, 2024 linked to the least performing of the Dow Jones industrial average and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
If the least performing index finishes at or above its initial level, the payout at maturity will be par plus the greater of the least performing index return and the upside payment of at least 27%. The exact upside payment will be set at pricing.
If the least performing index falls but finishes at or above the downside threshold level, 70% of the initial index level, the payout will be par plus the absolute value of the least performing index return.
If the least performing index finishes below the downside threshold level, investors will lose 1% for every 1% that the least performing index declines from its initial level.
Morgan Stanley & Co. LLC is the agent.
The notes (Cusip: 61769HJS5) will price on July 26.
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