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Morgan Stanley eyes trigger absolute return step notes on basket
By Sarah Lizee
Olympia, Wash., Nov. 6 – Morgan Stanley Finance LLC plans to price 0% trigger absolute return step securities due Nov. 29, 2024 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The basket consists of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei 225 index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
If the final basket level is greater than or equal to the initial basket level, the payout at maturity will be par of $10 plus the greater of 38% to 43% and the basket return.
If the final basket level is less than the initial basket level and greater than or equal to the downside threshold level, 75% of the initial basket level, the payout will be par plus the absolute value of the basket return.
If the final basket level is less than the downside threshold level, investors will lose 1% for every 1% that the final basket level is less than the initial basket level.
Morgan Stanley & Co. LLC is the agent, and UBS Financial Services Inc. is acting as dealer.
The notes will price on Nov. 8.
The Cusip number is 61770C723.
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