Morgan Stanley eyes 9.75% contingent income autocalls on Apple

By Sarah Lizee

Olympia, Wash., Jan. 8 – Morgan Stanley Finance LLC plans to price contingent income autocallable securities due Jan. 14, 2022 linked to the common stock of Apple Inc., according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 9.75% if the underlying stock closes at or above the 65% downside threshold on the determination date for that quarter.

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

The payout at maturity will be par plus the contingent coupon unless the stock finishes below its 65% downside threshold, in which case investors will be fully exposed to the losses.

The notes are guaranteed by Morgan Stanley.

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

The notes are expected to price on Jan. 11.

The Cusip number is 61768W541.

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