Morgan Stanley plans step down trigger autocalls tied to S&P, Stoxx

By Susanna Moon

Chicago, April 23 – Morgan Stanley Finance LLC plans to price 0% step down trigger autocallable notes due April 28, 2023 linked to the lesser performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

The notes will be called at par of $10 plus 8.25% to 9.25% per year if each asset closes at or above its initial level on any annual observation date or at or above its 70% downside threshold on the final valuation date.

If the notes are not called, the payout at maturity will be par plus the return of worse performing index with full exposure to any losses.

UBS Financial Services Inc. and Morgan Stanley & Co. LLC are the agents.

The notes will price on April 26.

The Cusip number is 61768P876.

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