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Morgan Stanley plans fixed-coupon autocallables tied to Biogen
By Sarah Lizee
Olympia, Wash., Jan. 15 – Morgan Stanley Finance LLC plans to price 14.1% fixed-coupon autocallable securities due Jan. 26, 2021 linked to the shares of Biogen Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
The notes will be called at par if the stock closes at or above the 100% redemption threshold level on any quarterly determination date.
If the stock’s closes at or above 70% of its initial level on every trading day during the life of the notes, the payout at maturity will be par.
Otherwise, investors will be fully exposed to the decline.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
The notes will price on Jan. 21.
The Cusip number is 61770FDD5.
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