Morgan Stanley plans contingent income autocallables linked to Apple

By Toni Weeks

San Luis Obispo, Calif., March 12 - Morgan Stanley plans to price contingent income autocallable securities due March 2016 linked to Apple Inc. shares, according to an FWP with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at a rate of 2.8125% to 3.3125% if Apple stock closes at or above the 75% barrier level on the determination date for that quarter.

If the shares close at or above the initial level on any of the first 11 quarterly determination dates, the notes will be called at par plus the contingent coupon.

If Apple stock finishes at or above the 75% trigger level, the payout at maturity will be par plus the contingent payment.

Otherwise, investors will receive a number of shares of Apple stock equal to $10 divided by the initial share price or, at the issuer's option, the cash value of those shares.

Morgan Stanley & Co. LLC is the agent.

The notes will price and settle in March.

The Cusip number is 61761M755.

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