Morgan Stanley to sell annual autocallable CDs due 2024 on MAP Trend

By Sarah Lizee

Olympia, Wash., May 21 – Morgan Stanley Bank, NA plans to price 0% annual autocallable market-linked certificates of deposit due June 4, 2024 linked to the Morgan Stanley MAP Trend index, according to a term sheet.

If the index closes at or above the applicable redemption threshold on an annual determination date, the CDs will be automatically called at par plus a premium of at least 7.15% per year. The redemption threshold is 102% of the initial level for the first determination date, stepping up by 200 basis points on each subsequent determination date to 108% of the initial level for the fourth determination date.

The payout at maturity will be par plus any index gain. If the index falls, the payout will be par.

Morgan Stanley & Co. LLC is the agent. Advisors Asset Management is distributor.

The CDs will price on May 30.

The Cusip number is 61765QWH8.

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