3
Shared Docs
2
Same-Page
3 / 3
Mentions
ny generates earnings. Disclosure Section The information and opinions in Morgan Stanley Research were prepared by Morgan Stanley & Co. LLC. and/or Morgan Stanley MIR S.A.. C M and/or Morgan Stanley Mexico. Casa de Bolsa. S.A. de V.. ' gan Stanley Canada Limited. used in this disclosure sec ion, Morgan Stan
Stanley AG. Singapore (Registration number T11FCO207F): in Australia to 'wholesale clients' within the meaning of the Australian Corporations Act by Morgan Stanley Australia Limited iiit . 67 003 734 576. holder of Australian Wiancial services license No. 233742. which accepts responsibdily for its contents:' tralia to 'wholesa
ny generates earnings. Disclosure Section The information and opinions in Morgan Stanley Research were prepared by Morgan Stanley & Co. LLC. and/or Morgan Stanley MIR S.A.. and/or Morgan Stanley Mexico. Casa de Boise. S.A. de C.V.. ' gan Stanley Canada Limited. As used in this disclosure sec ion, Morgan Stanle
Stanley AG. Singapore (Registration number T11FCO207F): in Australia to 'wholesale clients' within the meaning of the Australian Corporations Act by Morgan Stanley Australia Limited if . 67 003 734 576. holder of Australian friancial services license No. 233742. which accepts responsibdily for its contents:' tralia to 'wholesa
MS_Print Design_North America Insight English
l and capital markets that delays harvesting of investments and dampens returns which Lower cash earnings. Morgan Stanley & Co. International plc (“Morgan Stanley”) is cur- rently acting as financial advisor to Banco Popular Espafiol, S.A. (“Banco Popular”) in relation to its agreements with Balsam Invest- ment
Page: HOUSE_OVERSIGHT_025582 →ited, Singapore Branch (Registration number T1IFCO207F); in Australia to “wholesale clients" within the meaning of the Australian Corporations Act by Morgan Stanley Australia Limited A.B.N. 67 003 734576, holder of Australian financial services license No. 233742, which accepts responsibility for its contents; in Australia to "who
Page: HOUSE_OVERSIGHT_025586 →Entities connected to both Morgan Stanley and Morgan Stanley Australia Limited

United States
LOCATION
Bloomberg L.P.
ORGANIZATION
Hong Kong
LOCATION
Frankfurt
LOCATION
Tokyo
LOCATIONMorgan Stanley & Co. LLC
ORGANIZATION
Reuters
ORGANIZATIONthe Financial Services Board
ORGANIZATIONResearch Management
ORGANIZATIONthe Monetary Authority of Singapore
ORGANIZATIONMorgan Stanley Equity Research
ORGANIZATION
DIFC Branch
ORGANIZATION
Kowloon
LOCATIONMorgan Stanley Mexico
ORGANIZATIONSingapore) Pte
ORGANIZATIONMorgan Stanley Bank AG
ORGANIZATIONBank Street
ORGANIZATIONthe Capital Markets Board of Turkey
ORGANIZATIONPrice Target
ORGANIZATIONViews
ORGANIZATION