Morgan Stanley plans trigger autocallable contingent yield notes on S&P

By Sarah Lizee

Olympia, Wash., Aug. 15 – Morgan Stanley Finance LLC plans to price trigger autocallable contingent yield notes due Aug. 19, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

The notes will pay a contingent quarterly coupon at an annual rate of 7% to 7.65% if the index closes at or above its coupon barrier level, 80% of its initial level, on the observation date for that quarter.

The notes will be called at par if the index closes at or above its initial level on any observation date beginning Feb. 18, 2020.

The payout at maturity will be par plus any coupon unless the index finishes below the 80% downside threshold level, in which case investors will lose 1% for each 1% decline from its initial level.

Morgan Stanley & Co. LLC and UBS Financial Services Inc. are the agents.

The notes will price on Aug. 16.

The Cusip number is 61769Q758.

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