Morgan Stanley plans contingent income autocallable notes on S&P

By Sarah Lizee

Olympia, Wash., July 16 – Morgan Stanley Finance LLC plans to price contingent income autocallable securities due July 22, 2021 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If the index closes at or above the coupon barrier, 75% of the initial level, on a monthly determination date, the notes will pay a contingent payment that period at an annualized rate of 8.4%.

The notes will be called at par plus the contingent coupon if the index closes at or above the initial level on any monthly determination date after three months.

If the final level is greater than or equal to the downside threshold level, 75% of initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final level is less than the initial level.

Morgan Stanley & Co. LLC is the agent.

The notes will price on July 17.

The Cusip number is 61771BVA9.

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