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Morgan Stanley plans 4.5-year leveraged buffered notes tied to indexes
By Susanna Moon
Chicago, Aug. 7 – Morgan Stanley plans to price 0% securities due March 3, 2020 with leveraged upside participation to a cap and fixed percentage buffered downside linked to a basket of exchange-traded funds, according to an FWP filing with the Securities and Exchange Commission.
The basket consists of the SPDR S&P 500 ETF Trust with a 50% weight, the iShares Russell 2000 ETF with a 15% weight, the iShares MSCI EAFE ETF with a 15% weight, the iShares MSCI Emerging Markets ETF with a 10% weight, the PowerShares DB Commodity Index Tracking Fund with a 5% weight and the Vanguard REIT ETF with a 5% weight.
The payout at maturity will be par plus 150% of any basket gain, up to a cap of 45% to 50%.
Investors will receive par if the basket falls by up to 15% and will lose 1% for every 1% decline beyond 15%.
Morgan Stanley & Co. LLC and Wells Fargo Securities LLC are the agents.
The notes will price on Aug. 31 and settle on Sept. 3.
The Cusip number is 61761JF53.
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