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Morgan Stanley to price fixed-income autocallable securities on S&P
By Sarah Lizee
Olympia, Wash., Jan. 7 – Morgan Stanley Finance LLC plans to price 6.5% to 8.5% fixed-income autocallable securities due May 5, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will be automatically called at par plus the most recent coupon if the underlying index closes at or above its initial level on any quarterly determination date.
If the notes are not called and the index finishes at or above its initial level or the index has ever finished below its 70% downside threshold level, the payout at maturity will be par.
Otherwise, investors will lose 1% for each 1% decline of the index.
Morgan Stanley & Co. LLC is the agent.
The notes will price on Jan. 31.
The Cusip number is 61768DWU5.
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