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Morgan Stanley plans digital notes due 2020 tied to S&P 500
By Susanna Moon
Chicago, April 26 – Morgan Stanley Finance LLC plans to price 0% digital notes due in 36 to 39 months linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout at maturity will be the maximum settlement amount of $1,265 to $1,295 for each $1,000 principal amount.
Otherwise, investors will be exposed to any losses.
Morgan Stanley & Co. LLC is the agent.
The notes will be guaranteed by Morgan Stanley.
The Cusip number is 61768CHK6.
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