Morgan Stanley plans contingent income autocalls on S&P 500

Chicago, Feb. 27 – Morgan Stanley Finance LLC plans to price contingent income autocallable securities due March 4, 2020 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 7.5% to 9.5% if the underlying index closes at or above the 80% coupon barrier on the observation date for that period.

The notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any quarterly determination date beginning on May 28.

The payout at maturity will be par plus the coupon unless the index finishes below its 80% 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 are expected to price on Feb. 28 and March 5.

The Cusip number is 61768DL94.

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