Morgan Stanley plans 8.3% contingent income autocallables on Ferrari

By Wendy Van Sickle

Columbus, Ohio, March 25 – Morgan Stanley Finance LLC plans to price contingent income autocallable securities due April 1, 2022 linked to Ferrari NV stock, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8.3% if the underlying stock closes at or above the 70% downside threshold on the determination date for that quarter.

The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any of the first 11 determination dates.

The payout at maturity will be par unless the stock finishes below its 70% downside threshold, in which case investors will lose 1% for each 1% decline.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

The notes will price on March 29.

The Cusip number is 61768X614.

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