Morgan Stanley plans contingent income autocallables linked to Netflix

By Susanna Moon

Chicago, July 2 – Morgan Stanley plans to price contingent income autocallable securities due July 20, 2017 linked to Netflix, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 11.75% if the stock closes at or above its coupon barrier level, 75% of its initial level, on the observation date for that month.

The payout at maturity will be par plus the final coupon unless the stock finishes below its 75% trigger level, in which case investors will be fully exposed to any losses.

The notes will be called if the stock closes at or above its initial level on any redemption quarterly determination date.

Morgan Stanley & Co. LLC is the agent.

The notes will price on July 15 and settle on July 20.

The Cusip number is 61761JZZ5.

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