Morgan Stanley eyes trigger autocallable contingent yield notes on indexes

By Sarah Lizee

Olympia, Wash., Dec. 11 – Morgan Stanley Finance LLC plans to price trigger autocallable contingent yield notes due Dec. 19, 2028 linked to the lesser performing of the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

The notes will pay a contingent quarterly coupon at an annual rate of 6.5% to 7.5% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.

After one year, the notes will be called at par if each index closes at or above its initial level on any quarterly observation date other than the final one.

The payout at maturity will be par unless either index finishes below the 50% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing index.

UBS Financial Services Inc. and Morgan Stanley & Co. LLC are the agents.

The notes will price on Dec. 14.

The Cusip number is 61768W236.

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