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Morgan Stanley plans contingent income autocallables tied to GameStop
By Susanna Moon
Chicago, April 20 – Morgan Stanley plans to price contingent income autocallable securities due April 27, 2017 linked to the class A common stock of GameStop Corp., according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 15% if GameStop stock closes at or above the 70% barrier level on the determination date for that month.
The notes will be called at par plus the contingent coupon if the stock closes at or above its level on any quarterly determination date.
If the notes are not called and GameStop stock finishes at or above the 70% trigger level, the payout at maturity will be par plus the contingent payment.
Otherwise, investors will be fully exposed to any losses.
Morgan Stanley & Co. LLC is the agent.
The notes will price on April 22 and settle on April 27.
The Cusip number is 61761JYM5.
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