Morgan Stanley to price contingent income autocalls on Dow, Nasdaq, S&P

By Sarah Lizee

Olympia, Wash., Sept. 4 – Morgan Stanley Finance LLC plans to price contingent income autocallable securities due Sept. 13, 2021 linked to the least performing of the Dow Jones industrial average, the S&P 500 index and the Nasdaq-100 index, 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 11.65% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the determination date for that month.

The notes will be automatically called at par if each index closes at or above its initial level on any monthly determination date after three months.

The payout at maturity will be par unless any index finishes below its 70% downside threshold, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level.

Morgan Stanley & Co. LLC is the agent.

The notes will price on Sept. 8.

The Cusip number is 61771B2W3.

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