Morgan Stanley plans contingent income autocallable notes on BofA

By Sarah Lizee

Olympia, Wash., March 18 – Morgan Stanley Finance LLC plans to price contingent income autocallable securities due Sept. 24, 2020 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

The notes will pay a contingent monthly coupon at an annual rate of 15% if the stock closes at or above its 65% downside threshold on the determination date for that month.

The notes will be called at par of $10 plus the contingent coupon if the stock closes at or above its initial share price on any of the first five determination dates.

The payout at maturity will be par unless the stock finishes below its 65% downside threshold, in which case investors will be fully exposed to any losses.

Morgan Stanley & Co. LLC is the agent with distribution through Morgan Stanley Wealth Management.

The notes will price on March 20.

The Cusip number is 61770G864.

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