Morgan Stanley to price contingent income autocallables on S&P, Russell

By Sarah Lizee

Olympia, Wash., Oct. 17 – Morgan Stanley Finance LLC plans to price contingent income autocallable securities due April 26, 2021 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each month, the notes will pay a contingent coupon at the rate of 6.25% to 7.25% per year if each index closes at or above its coupon barrier, 70% of its initial level, on the determination date for that period.

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

The payout at maturity will be par unless either index finishes below its downside threshold level, 70% of its initial level, in which case investors will receive par plus the return of the least-performing index, subject to a maximum payout of par.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

The notes will price on Oct. 18.

The Cusip number is 61769HWM3.

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