Morgan Stanley changes par amount, Cusip of autocallables on S&P 500

By Angela McDaniels

Tacoma, Wash., March 20 - Morgan Stanley made some changes to its upcoming 0% market-linked autocallable notes due April 2027 linked to the S&P 500 index, according to an amended FWP filing with the Securities and Exchange Commission.

The face amount of each note was changed to $1,000 from $10. The Cusip number was changed to 617482H64 from 61760T579.

If the index closes at or above 995 on an observation date, the notes will pay a contingent coupon at the rate of 7.6% per year for that quarter. Otherwise, no coupon will be paid that quarter.

From March 2017 through December 2026, the notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any quarterly observation date.

The payout at maturity will be par plus the final coupon, if any.

The notes will price in March and settle in April.

Morgan Stanley & Co. LLC is the agent.

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