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Morgan Stanley plans 8%-11% commodity ELKS on S&P GSCI Brent Crude
By Jennifer Chiou
New York, Aug. 20 - Morgan Stanley plans to price 8% to 11% annualized commodity Equity LinKed Securities due April 2011 linked to the S&P GSCI Brent Crude Index-Excess Return, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless the index closes at or below the threshold level - 75% of the initial level - during the life of the notes, in which case the payout will be equal to par plus the index performance.
The notes (Cusip: 617482NC4) will price and settle in August.
Morgan Stanley & Co. Inc. is the agent.
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