Morgan Stanley plans market-linked step-up autocallables on S&P 500

By Susanna Moon

Chicago, June 14 - Morgan Stanley plans to price market-linked autocallable step-up notes due June 29, 2027 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If the index closes at or above the 850 barrier level on any monthly observation date, the notes will pay a contingent coupon that month at an annualized rate of 7% for the first five years, stepping up to 10% for years six to 10 and to 15% in year 11. Interest is payable monthly.

If the index closes at or above its initial level on any quarterly redemption determination date after five years, the notes will be called at par plus the contingent coupon.

The payout at maturity will be par.

Morgan Stanley & Co. LLC is the agent.

The notes will price on June 26 and settle on June 29.

The Cusip number is 617482S88.

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