Morgan Stanley plans contingent income autocallables on Las Vegas Sands

By Susanna Moon

Chicago, Aug. 7 – Morgan Stanley plans to price contingent income autocallable securities due Aug. 17, 2018 linked to Las Vegas Sands Corp. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 12.7% if the shares close at or above the 75% barrier level on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any of the first 11 determination dates.

The payout at maturity will be par plus the final coupon unless the shares finish below the 75% barrier level, in which case investors will receive a number of Las Vegas Sands shares equal to $10 divided by the initial price or, at the issuer’s option, the cash equivalent.

Morgan Stanley & Co. LLC is the agent with Morgan Stanley Wealth Management handling distribution.

The notes will price on Aug. 14 and settle on Aug. 19.

The Cusip number is 61765R107.

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