Morgan Stanley plans contingent income autocallables on Vegas Sands

By Susanna Moon

Chicago, April 3 - Morgan Stanley plans to price contingent income autocallable securities due April 15, 2016 linked to Las Vegas Sands Corp. shares, according to an FWP with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at a rate of 10% if Las Vegas Sands stock closes at or above the 75% barrier level on the determination date for that month.

If the shares close at or above the call level on any quarterly determination dates, the notes will be called at par plus the contingent coupon. The call level will be 105% of the initial share price for the first four call dates, stepping up to 110% of the initial share price for the next four dates and to 115% of the initial share price for the rest of the dates.

If Las Vegas Sands stock finishes at or above the 75% trigger level, the payout at maturity will be par plus the contingent payment.

Otherwise, investors will receive a number of shares of Las Vegas Sands stock equal to $10 divided by the initial share price or, at the issuer's option, the cash value of those shares.

Morgan Stanley & Co. LLC is the agent.

The notes will price on April 12 and settle on April 17.

The Cusip number is 61761JFB0.

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