Morgan Stanley plans 10-year contingent income callables tied to S&P

By Susanna Moon

Chicago, Sept. 25 – Morgan Stanley Finance LLC plans to callable contingent income securities due Oct. 4, 2027 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 6.7% if the index closes at or above its 75% coupon barrier on the determination date for that quarter.

The notes are callable at par on any quarterly redemption date beginning Oct. 3, 2018.

The payout at maturity will be par plus the contingent coupon unless the index finishes below its 65% 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 settle on Sept. 29.

The Cusip number is 61768CQX8.

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