Morgan Stanley plans contingent income autocallables on two stocks

By Sarah Lizee

Olympia, Wash., Nov. 25 – Morgan Stanley Finance LLC plans to price contingent income autocallable securities due Dec. 1, 2022 linked to the least performing of the common stocks of Cisco Systems, Inc. and Xilinx, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 12% to 14% per year if each stock closes at or above its downside threshold level, 60% of its initial level, on the related determination date.

After six months, the notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly early redemption determination date.

The payout at maturity will be par unless any stock finishes below its downside threshold level, in which case investors will be exposed to the decline of the least-performing stock from its initial level.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

The notes will price on Nov. 26.

The Cusip number is 61769HT88.

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