Morgan Stanley plans past performance-adjusted notes on ETF-MAP

By Jennifer Chiou

New York, Jan. 2 - Morgan Stanley plans to price market-linked notes due Jan. 31, 2019 with past performance adjusted contingent coupon linked to the Morgan Stanley ETF-MAP index (Excess Return), according to an FWP with the Securities and Exchange Commission.

Any contingent coupon will be calculated using the index closing value on the annual determination dates. The notes will pay the contingent coupon if the index value on the determination date is greater than the initial value and if the index value on the determination dates following the initial one is greater than the value(s) on the prior date(s).

The contingent coupon rate will equal the index percentage change minus the sum of the contingent coupon rates, subject to a floor of zero.

The payout will be par plus any contingent coupon.

The notes (Cusip: 61761JBA6) are expected to price on Jan. 28 and settle on Jan. 31.

Morgan Stanley & Co. LLC will be the agent.

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