Morgan Stanley plans contingent income autocallables linked to Apple

By Angela McDaniels

Tacoma, Wash., Nov. 6 – Morgan Stanley Finance LLC plans to price contingent income autocallable securities due Nov. 16, 2020 linked to the common stock of Apple Inc., according to an FWP filing with the Securities and Exchange Commission.

The notes will be guaranteed by Morgan Stanley.

If Apple shares close at or above the downside threshold level, 80% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 8.15%.

The notes will be called at par of $10 plus the contingent coupon if Apple shares close at or above the initial share price on any quarterly determination date other than the final determination date.

If the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.

Morgan Stanley & Co. LLC is the agent. Morgan Stanley Wealth Management is handling distribution.

The notes are expected to price Nov. 10.

The Cusip number is 61768K257.

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