Morgan Stanley plans 8%-9% contingent income autocalls on two stocks

By Susanna Moon

Chicago, June 13 – Morgan Stanley Finance LLC plans to price contingent income autocallable securities due June 30, 2021 linked to the worse performing of the common stocks of Microsoft Corp. and Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8% to 9% if each underlying stock closes at or above the 55% downside threshold on the determination date for that quarter.

The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any determination date after six months.

The payout at maturity will be par unless either stock finishes below its 55% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing stock.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

The notes are expected to price on June 27.

The Cusip number is 61768C5B9.

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