Morgan Stanley plans contingent income autocallables on Bristol-Myers

By Wendy Van Sickle

Columbus, Ohio, May 13 – Morgan Stanley Finance LLC plans to price contingent income autocallable securities with step-up redemption feature due May 23, 2019 linked to Bristol-Myers Squibb Co. stock, according to an FWP filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If Bristol-Myers stock closes at or above 80% of its initial level on any quarterly determination date, the notes will pay a contingent payment at an annual rate of 8.6% for that quarter.

The notes will be redeemed at par plus the contingent payment, if Bristol-Myers stock closes at or above its redemption threshold, 105% of its initial price on any of the first four quarterly determination dates, 110% for the next four dates and 115% for the next three determination dates.

If the Bristol-Myers stock finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent quarterly payment.

Otherwise, investors will be fully exposed to any losses.

The agent is Morgan Stanley & Co. LLC.

The notes will price May 20 and settle May 25.

The Cusip number is 61766B457.

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