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Morgan Stanley plans contingent income autocallables on Russell 2000
By Marisa Wong
Madison, Wis., Sept. 11 - Morgan Stanley plans to price contingent income autocallable securities due September 2020 linked to the Russell 2000 index, according to an FWP with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 7.5% if the index closes at or above the 75% barrier level on a quarterly determination date.
If the index closes at or above the initial level on any annual determination date, the notes will be called at par plus the contingent coupon.
The payout at maturity will be par plus the contingent coupon unless the index finishes below the barrier level, in which case investors will be exposed to any losses.
Morgan Stanley & Co. LLC is the agent.
The notes will price and settle in September.
The Cusip number is 61761JLM9.
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