Morgan Stanley plans contingent income buffered notes linked to indexes

By Angela McDaniels

Tacoma, Wash., Nov. 22 – Morgan Stanley Finance LLC plans to price contingent income buffered autocallable securities due Dec. 9, 2024 linked to the worst performing of the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, according to an FWP filing with the Securities and Exchange Commission.

Each month, the notes will pay a contingent coupon if each index closes at or above its coupon threshold level, 75% of its initial level, on the observation date for that month. The contingent coupon rate is expected to be at least 5% per year and will be set at pricing.

After one year, the notes will be automatically called at par plus the coupon if each index closes at or above its initial level on any quarterly determination date.

The payout at maturity will be par unless any index declines by more than 25%, in which case investors will lose 1% for every 1% that the least-performing index declines beyond 25%.

The notes will be guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

The notes will price Dec. 4.

The Cusip number is 61769HN35.

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