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Morgan Stanley plans range accrual notes on CMS curve, Russell 2000
By Susanna Moon
Chicago, Nov. 4 - Morgan Stanley plans to price CMS curve and Russell 2000 index-linked range accrual notes due Nov. 23, 2019, according to an FWP with the Securities and Exchange Commission.
The coupon will accrue at 8% for each day that the 30-year Constant Maturity Swap rate is equal to or greater than the two-year CMS rate and the index closes at or above 500. Interest will be payable monthly.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
The notes will settle on Nov. 23.
The Cusip is 61745EZ38.
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