Morgan Stanley plans contingent income autocalls on three indexes

By Sarah Lizee

Olympia, Wash., April 26 – Morgan Stanley Finance LLC plans to price contingent income autocallable securities due May 8, 2024 linked to the least performing of the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

Each month, the notes will pay a contingent coupon at the rate of 5.5% to 7.5% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the determination date for that period.

Beginning May 4, 2020, the notes will be automatically called at par if each index closes at or above its initial level on any quarterly determination date.

The payout at maturity will be par unless any index finishes below its 70% downside threshold, in which case investors will be fully exposed to the return of the least performing index.

Morgan Stanley & Co. LLC is the agent.

The notes will price on May 3.

The Cusip number is 61768D7J8.

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