Morgan Stanley plans contingent income autocallables on Apple, BofA

New York, March 16 – Morgan Stanley Finance LLC plans to price contingent income autocallable securities due March 20, 2020 linked to the common stocks of Apple Inc. and Bank of America Corp., according to an FWP filing with the Securities and Exchange Commission.

Morgan Stanley will guarantee the notes.

The notes will pay a contingent quarterly coupon at an annualized rate of 9.2% if both stocks close above their downside threshold level on the quarterly observation date. The downside threshold level is 60% of the initial price.

Starting March 22, 2018, the notes will be automatically redeemed if both stocks close at or above their initial prices on a quarterly determination date.

The payout at maturity will be par plus the contingent coupon if both stocks finish above the downside threshold level. Otherwise investors will be exposed to the performance of the worst performing stock.

Morgan Stanley & Co. LLC is the agent.

The notes will price on March 17 and settle on March 22.

The Cusip is 61766V735.

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