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Morgan Stanley to price knock-out notes linked to Brent crude oil
By Angela McDaniels
Tacoma, Wash., Aug. 15 - Morgan Stanley plans to price 0% knock-out notes due Dec. 23, 2011 linked to the price of Brent blend crude oil, according to a 424B2 filing with the Securities and Exchange Commission.
If the final price of oil is at least 80% of the initial price, the payout at maturity will be par plus 5.6%. Otherwise, investors will lose a percentage of par equal to the percentage decline of oil.
The notes (Cusip: 617482VT8) will price Aug. 19 and settle Aug. 26.
Morgan Stanley & Co. LLC is the agent with J.P. Morgan Securities LLC as dealer.
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