Morgan Stanley plans autocallable securities linked to energy fund

By Wendy Van Sickle

Columbus, Ohio, Dec. 9 – Morgan Stanley plans to price 0% autocallable securities with fixed-percentage buffered downside due Dec. 31, 2018 linked to the Energy Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.

The notes will be called at par plus a premium of 7.75% to 8.75% a year if the fund closes at or above its initial level on Jan. 4, 2018 or July 5, 2018.

If the fund falls by up to 10%, the payout at maturity will be par. Otherwise, investors will be exposed to the fund’s decline beyond 10%.

Morgan Stanley & Co. LLC is the agent.

The notes will price Dec. 29.

The Cusip number is 61761JZ85.

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