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Morgan Stanley plans to price Lasers linked to S&P 500 index
By Toni Weeks
San Diego, May 10 - Morgan Stanley plans to price 0% Index Leading Stockmarket Return Securities due May 2014 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes above 75% of its initial level, the payout at maturity will be par plus the greater of the index return and a fixed percentage of 6.85% to 10.85%. Otherwise, the payout will be par plus the index return with full exposure to losses from the initial level.
The exact terms will be set at pricing.
The notes (Cusip: 61755S263) are expected to price and settle in May.
Morgan Stanley & Co. Inc. will be the agent, and Morgan Stanley Smith Barney LLC will handle distribution.
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