Morgan Stanley eyes contingent income buffered autocalls on Stoxx, S&P

By Sarah Lizee

Olympia, Wash., Dec. 11 – Morgan Stanley Finance LLC plans to price contingent income buffered autocallable securities due Dec. 27, 2021 linked to the lesser performing of the Euro Stoxx 50 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

Each month, the notes will pay a contingent coupon at the rate of 5.25% per year if each underlier closes at or above its buffer level, 80% of its initial level, on the determination date for that month.

After one year, the notes will be automatically called at par if each underlier closes at or above its initial level on any monthly determination date.

The payout at maturity will be par unless either underlier finishes below its buffer level, in which case investors will lose 1% for every 1% that the lesser-performing underlier declines beyond 20%.

Morgan Stanley & Co. LLC is the agent.

The notes will price on Dec. 21.

The Cusip number is 61768DTS4.

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