Morgan Stanley plans contingent income autocallables on Las Vegas Sands

By Jennifer Chiou

New York, June 9 – Morgan Stanley plans to price contingent income autocallable securities due June 2015 linked to Las Vegas Sands Corp. shares, according to an FWP with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 10% if Las Vegas Sands stock closes at or above the 74.25% barrier level on a determination date for that quarter.

The notes will be redeemed at par of $10 plus the contingent payment if the stock closes at or above the initial level on any of the first three determination dates.

The payout at maturity will be par plus the contingent payment unless the stock finishes below its barrier level, in which case the payout will be a number of Las Vegas Sands shares equal to $10 divided by the initial share price or, at the issuer's option, the cash equivalent.

The notes (Cusip: 61761S463) are expected to price and settle in June.

Morgan Stanley & Co. LLC is the agent.

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