Morgan Stanley to price contingent income autocallables on three ETFs

By Marisa Wong

Morgantown, W.Va., Aug. 16 – Morgan Stanley Finance LLC plans to price contingent income autocallable securities due Aug. 22, 2019 linked to the least performing of the iShares U.S. Real Estate exchange-traded fund, the VanEck Vectors Semiconductor ETF and the SPDR S&P Bank ETF, 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 at least 11.4% if each ETF closes at or above its 75% downside threshold on the determination date for that quarter.

The notes will be called at par plus the contingent coupon if each ETF closes at or above its initial price on any determination date.

The payout at maturity will be par plus the contingent coupon unless any ETF finishes below its downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing ETF.

Morgan Stanley & Co. LLC is the agent.

The notes will price on Aug. 17.

The Cusip number is 61768CPG6.

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