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Morgan Stanley plans contingent income autocallables on two indexes
By Marisa Wong
Morgantown, W.Va., Sept. 8 – Morgan Stanley plans to price contingent income autocallable securities due Sept. 30, 2030 linked to the worst performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
For the first year, the notes will pay a fixed coupon of 9%. After that, the notes will pay a contingent quarterly coupon at an annual rate of 9% if each index closes at or above its initial level on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly determination date after on year.
The payout at maturity will be par plus the final contingent coupon, if any, unless either index finishes below the 50% downside threshold level, in which case investors will be fully exposed to any losses of the worst performing index.
Morgan Stanley & Co. LLC is the agent.
The notes will price Sept. 25 and settle Sept. 30.
The Cusip number is 61761JJ83.
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