Morgan Stanley plans trigger phoenix autocallables linked to Ford

By Jennifer Chiou

New York, Dec. 16 – Morgan Stanley plans to price trigger phoenix autocallable optimization securities due Dec. 26, 2019 linked to Ford Motor Co. shares, according to an FWP with the Securities and Exchange Commission.

If Ford stock closes at or above the coupon barrier level – 72% to 77% of the initial price – on any monthly observation date, the notes will pay a contingent coupon at an annualized rate of 8% for that month.

If the shares close at or above the initial price on any monthly observation date after one year, the notes will be called at par plus the contingent coupon.

If the notes are not called and Ford shares finish at or above the 72% to 77% trigger price, the payout at maturity will be par plus the contingent coupon.

Otherwise, investors will be fully exposed to any losses.

The notes (Cusip: 61764M349) will price on Dec. 19 and settle on Dec. 24.

Morgan Stanley & Co. LLC is the underwriter with UBS Financial Services Inc. as dealer.

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